With this development, Grexter Living has added 2000 beds to its inventory
Bangalore, August 07, 2019: In an attempt to expand its geographical reach and add to its growing team, emerging tech-driven co-living provider Grexter Living has taken over i2Stay. Through this deal, Grexter Living has scaled up its operations adding 2000 new beds to its inventory, taking its total count of beds to over 5000 beds in Bangalore. It has also taken over some built-to-suit projects which i2stay has been working on.
Launched early last year, i2Stay provides a hassle-free living experience for working professionals at an affordable rate. Featuring a host of modern amenities including Wi-Fi, DTH connection, on-demand maintenance and customer service support, the fully-managed i2Stay properties by also come with an on-site management team led by a property manager. Rajasekhar Gowreneni, CEO of i2stay, will be joining the Grexter Living team as the Managing Partner for South India. He’s also serving as the Chairman of Iconhomz, a developer based in Bangalore and Hyderabad, specialising in the compact housing, for a decade.
Speaking on the development, Pratul Gupta, Co-Founder, Grexter Living, said, “We are extremely happy to welcome Rajasekhar on-board. Rajasekhar has been a pioneer in space-saving concepts, and through this partnership, we will be able to leverage his expertise and years of experience. We are already working on some really innovative co-living design ideas and hope to bring them to life very soon.”
Sharing his insight, Rajasekhar Gowrineni, MD and CEO of i2Stay, added, “Co-living is a high-growth sector, and it gives me immense pleasure in joining Grexter team, reaching our services to a larger number of customers. I am excited about the opportunity and possibilities that the future holds for Grexter and we are very optimistic about the growth.”
Leveraging Gowrineni’s rich industry experience, Grexter Living looks forward to continuing its vision of providing smart-living solutions to students and entry-level professionals. At present, the company is focusing on scaling up its operations and strengthening its position as Bangalore’s fastest-moving co-living space provider. By 2020, Grexter Living also aims to foray into two new markets, i.e. Pune and Hyderabad. The acqui-hiring of i2Stay is aimed at propelling the company’s country-wide growth and reimagining its business strategy.
About Grexter Living
Grexter Living is Bangalore’s fastest moving co-living platform, catering primarily to salaried employees, fresh graduates, and techies in the age group of 18-25 years. It provides state-of-the-art, fully-furnished co-living spaces across Bangalore. Grexter was launched in January 2016 by two IIT Madras Alumni, Pratul Gupta and Nikhil Dosi. Grexter offers functional and built-to-suit urban studio rooms that provide all the necessary amenities. Grexter raised a Pre-Series A investment worth $1.5 million (INR 10.6 Cr) from Venture Catalysts in 2019.