Room Soom Technologies, the parent company of an eponymous student housing and co-living platform, has now secured an undisclosed amount in the funding round from Mumbai Angels Network.
RoomSoom’s immediate goals are to increase the number of beds from 3000 to 5000 and expand its reach from seven to 10 cities, said the announcement.
“With these funds, we plan to tap every market, reach every individual, and identify every need. So that we can provide them with a solution they will not find anywhere else,” Nitin Agrawal, co-founder at RoomSoom said in a statement on Thursday.
The startup business operates with a specialized focus towards co-living accommodations for the youth. The company attributes its growth to an ability to identify the needs of a young and demanding population and provide quick solutions that they never thought existed.
“From an investor’s perspective RoomSoom had the right ingredients; a scalable and profitable business model, experienced and innovative management, and a resilient business that can recover quickly from the pandemic impact,” Anshuman Ranjan, a Mumbai Angels investor said in the statement.