People are drawn towards experience-focused, de-densified living, said Sreedharan
Notable Angels from Silicon Valley and the GCC region were part of the equity and minority debt that contributed to the US$1 million raised by Hyphen, India’s leading experiential living community out of Bengaluru with expansion plans for new markets.
Hyphen said the fresh capital will be deployed towards expanding into new markets, launching new product types and integrating technology and automation to drive consumer experiences.
The funds will be utilized to integrate automation and technology to make residents (Hypheners) more conscious about the footprint they leave.
Hyphen’s goal is to shift the ecosystem from a commodity-focused to a consumer-focused living brand while ensuring technology is an essential part of the Hyphen experience.
“People are drawn towards experience-focused, de-densified living; the pandemic helped accelerate this push. In fact, 76% of consumers are more likely to spend on experiences than materialistic things,” said Rishi Sreedharan, Co-Founder & CEO of Hyphen.
“As people move back into the city, they are looking for something different, and the run-of-the-mill shared-living experience will no longer cut it,” he said on 10 June 2022.
“At Hyphen, we are redefining living through an experience-first lens. Running at a 100% occupancy rate reaffirms our thesis that a consumer-first, differentiated living product is poised perfectly for today’s market.
“The capital will help us take Hyphen to competitive geographies and double down on hiring a 10x team.
“At the same time, the community is at the center of what we do, and our investment in our underlying technology stack will allow for a seamless living experience,” said Sreedharan.
Hyphen, formerly called Dwellingo, launched its first club (property) in August 2021 and has since been on a quest to eliminate urban loneliness.
The company is growing at 200% month on month and plans to have 6,000 beds and expand into five markets, starting with Hyderabad, Pune, Chennai and Delhi NCR by 2023.
“Post COVID, the co-living market has witnessed huge growth with people flocking back to offices. There is a greater need for players and companies to offer more than just four walls and a roof,” said Sriram Puthucode, former VP at Symantec Global.
“Hyphen’s emphasis on hybrid, experiential-led living sets them apart and takes a huge leap into the future of organized living. I am thrilled to be a part of their journey in category creation.”
Founded in June 2021, by Anirudh Rao, Grishma Reddy, Rishi Sreedharan and Samarth Gowda, the company is building India’s first experiential living community that fosters meaningful relationships. fiinews.com
