Shared accommodations startup Square Plums lifted Rs 3 crore Indian Angel Network in a funding round joined by adroit entrepreneurs and IAN lead investors VGN Prakash, Amitabh Shrivastava, Krishna Jha and Ravindra Krishnappa.
The startup is founded in 2016 by the alumni of BITS Pilani, Rajesh Kumar Kotta and HemantAttray, who have experience in consumer Internet and hospitality industry. In the seed stage funding the team was joined by Krishna Jha, Partner, Telnet Ventures.
The funds will be used to bring on board more properties and to create a robust technology platform for tenants, apartment owners and prospective tenants. The startup also intends to launch its mobile app for a better experience. The platform is currently available only in Bengaluru.
The startup will be facing serious competition from NestAway a-Ratan Tata-backed startup, which has risen around Rs 200 crore in a Series-C financing led by Tiger Global, Russian billionaire Yuri Milner and IDG Ventures India.
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