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Miguel Cordon · · 1 min readReport: Indian accommodations startup secures $100m from Alpha Wave, others
“The VC firm [Alpha Wave], managed by Falcon Edge, has participated in several high-profile deals including in the recent fundraise by Cred, Swiggy, and Dream11, and has now infused over US$100 million in Stanza Living through its [Falcon Edge’s] two subsidiaries Alpha Wave Incubation and Moraine Master,” Entrackr reported, citing regulatory filings.
Details:
- Stanza Living has approved the issue of 10 equity shares and 8,430 series D compulsory convertible preference shares at 911,440 rupees (around US$12,174) apiece to raise the amount.
- The company is estimated to be valued at around US$470 million to US$500 million post-money, according to the report, citing data from Fintrackr.
Context:
- In March this year, it was reported that Stanza Living was in advanced talks to raise up to US$120 million in its series D round.
- After the capital infusion, Falcon Edge now holds the largest shareholding in the firm at 27.8%.
Editing by Collin Furtado and Jaclyn Tiu
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