Amber, a global student housing solutions provider, has secured $21 million in its maiden external funding round, spearheaded by Gaja Capital. Lighthouse Canton and Stride Ventures also contributed to the financing, signaling a strong vote of confidence in Amber’s vision and capabilities.

The infusion of fresh capital will fuel Amber’s ambitious plans for global expansion and further enhancement of its offerings tailored to property managers and students, according to a press release issued by the company.

Although Amber has not officially disclosed its valuation, insiders suggest that the company is poised to be valued at approximately $100 million, reflecting the confidence of investors in its growth potential. This development, first reported by Entrackr in September of last year, marks a significant milestone in Amber’s journey towards revolutionizing the student housing landscape.

Established in 2017 by Saurabh Goel and Madhur Gujar, Amber has been on a mission to simplify the housing process for students worldwide. Through its platform, Amber facilitates access to verified listings, integrated booking experiences, virtual property tours, and expert assistance, streamlining the entire housing journey for students.

With a global footprint spanning more than 250 cities across seven countries including the UK, the US, Australia, Ireland, Canada, Germany, and Spain, Amber boasts a robust network offering accommodation options to students from over 50 countries. Currently, the platform features listings for one million beds, affirming its status as a leading player in the student housing segment.

A cornerstone of Amber’s offerings is its AI-based dynamic pricing engine and dashboard tools, designed to empower property managers with insights to streamline operations and optimize revenue generation.

During its formative years, Amber secured angel funding from notable investors including Bhavish Aggarwal of Ola, Ravish Naresh of Khatabook, and Sandeep Tandon, co-founder of FreeCharge. Reports indicate that some of these early investors have since exited their positions in the company, signaling confidence in Amber’s growth trajectory.

In a testament to its rapid expansion and operational prowess, Amber reported a gross bookings value (GBV) of $600 million in 2022, with operational revenue reaching $15 million and post-tax profits totaling $6 million. Looking ahead, the company has projected to surpass $1.2 billion in GBV for its partners in 2023, underscoring its commitment to driving value and delivering exceptional service to its stakeholders.

Amber faces competition from various Indian brands in the student housing sector, including University Living, Your Space, Good Host Spaces, and Homversity, among others. However, its innovative approach, robust technology infrastructure, and global reach position it as a frontrunner in the rapidly evolving landscape of student accommodation solutions.

As Amber continues to scale new heights and redefine standards in student housing, the recent funding round marks a pivotal moment in its journey towards empowering students with seamless, accessible, and quality housing solutions worldwide. With the backing of prominent investors and a steadfast commitment to excellence, Amber is poised to shape the future of student living on a global scale.

By Admin

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