Crib, a SaaS (software as a service) based marketplace for co-living, has raised $400,000 in pre-seed funding round led Pranay Gupta, co-founder of 91Springboard through his AngelList syndicate 91Ventures.
BlackSoil Capital joined the round, as did angel investors such as Shashwat Nakrani, co-founder of BharatPe; Jasminder Singh Gulati, co-founder of Nowfloats; Ajay Yadav, founder of Roomi; Sarath Sura, ex-director of Allahabad Bank; Abdul Paravengal, ex-CBO of Shipper; Rahul Jindal, Director at Google; Uday Arya, partner at BlueLotus Ventures The round was also joined by Anirudh Bagai (Founder, Lawyer2CA) and other angel investors from the Faad Network.
The funds will be used by the Gurugram-based Crib, run by Purple Stack Venture Pvt Ltd, to expand its engineering team, accelerate product development, and onboard on the first set of properties from Bangalore, Pune, Hyderabad, Mumbai, and Delhi NCR.
Crib, which was founded by Sunny Garg and Shaifali Jain in 2021, the company said it is creating a digital ecosystem aimed at altering how landlords operate, tenants remain, and real estate is sold. Crib is building a full-stack solution for co-living through its SaaS-based marketplace approach, which includes property management software and a reseller platform.
Garg and Jain launched YourShell which was operated by Lofty Ventures Pvt and was later acquired by Stanza Living.
“When it comes to co-living in India, we always think that it’s the tenant who suffers. Being a tenant, a broker and an operator in the past, we learned that it’s equally challenging for each stakeholder. While running an asset-heavy business in a competitive landscape, operators face multiple operational challenges. With Crib, we will automate their business processes and enable them to acquire, manage and retain tenants digitally,” Sunny Garg, co-founder, and CEO at Crib said.
Ankur Bansal, co-founder at BlackSoil Capital said, “We believe Crib is well-positioned to take advantage of adoption technology by SME and individual proprietors especially in the post-covid era. It’s an industry with many stakeholders and with friction at every interaction which makes it ripe for disruption through the use of technology. On top of it the founders come with relevant ground-level industry experience and deep understanding of problems faced by all participants in the market. We believe It’s a classic case of vertical use of SaaS.”