Amber Raises USD 21 Million for Student Accommodation Expansion

Mumbai, Feb 12 (PTI) Student accommodation platform Amber on Monday said it has raised USD 21 million (around Rs 175 crore) in a funding round led by Gaja Capital.

Amber is planning to use the fresh capital for global expansion and to enhance its offerings for property managers and students, according to a statement.

Apart from Gaja Capital, Lighthouse Canton and Stride participated in the funding round. The Rainmaker Group acted as the exclusive financial advisor for the transaction.

"We have been obsessed with solving the house-hunting process, starting with students. Having experienced this first-hand, we noticed a significant gap in the customer experience for a need as 'fundamental' as housing.

"... in the last few years, our team has leveraged technology and effective execution to scale well, and that too profitably," Amber CEO Saurabh Goel said.

Amber provides students from over 50 countries a seamless booking experience in more than 250 cities around the world.