Hotline: 1800 102 2007
Hotline: 1800 102 2007
Jul, 11 2018

Student housing startup Placio raises seed funding, buys Paco Meals

Placio also secured Rs 34.5 lakh in seed funding from undisclosed external investors that will go towards the new food business.

Student housing startup Placio raises seed funding, buys Paco Meals

Noida-based Placio, which operates an eponymous student housing solutions platform, has acquired subscription-based food delivery venture Paco Meals, a company statement said.

Placio also secured $50,000 (Rs 34.5 lakh) in seed funding from undisclosed external investors that will go towards the new food business, the statement added.

The acquisition equips Placio to develop menus by culinary professionals from Paco Meals’ network and to also offer food delivery services for students.

As part of the transaction, Paco Meals’ co-founders Nitin Joshi and Parul Tusele will join Placio, a company spokesperson said.

Currently, the domain name of ‘pacomeals’ is up for sale, its online web address link revealed.

“The good news is that Placio now extends this outlook to even students living in non-Placio properties. Taking over Paco Meals will now make us realize our dreams—by unrestricted provision of meals to all students,” Rohit Pateria and Ankush Arora, co-founders of Placio, said in the statement.

The deal comes six months after Placio raised $2 million in a pre-Series A round from Singapore-based private equity fund Prestellar Ventures.

Founded in 2016 by Joshi and Tusele, Noida-based Paco Meals offered tiffin services to bachelors and students at subsidised prices through its platform.

Operated by Rental Stay Pvt. Ltd, Placio was set up in 2016 by Pateria, a chartered accountant, and Arora, a former executive at Sharekhan and Angel Broking. The startup curates modern living spaces, fully-furnished rooms, private rooms and personal apartments in localities in and around university campuses with adequate amenities. Placio, which was incubated at the Amity Business Incubator, currently manages over 15 properties.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Plumbing, Sanitary Ware And Bathroom Fittings
    About Us: Swachhpro was founded in March 2017 in Louisville, Kentucky,..
    Locations looking for expansion Karnataka
    Establishment year 2017
    Franchising Launch Date 2019
    Investment size
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type MultiUnit
    Headquater Bengaluru Karnataka
  • Tea And Coffee Chain
    Beontea is a revolubon, Tradibonal tea, automated process and consistent tase...
    Locations looking for expansion Uttar Pardesh
    Establishment year 2019
    Franchising Launch Date 2020
    Investment size Rs. 2lac - 5lac
    Space required 050
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Uttar Pardesh
  • Bike Maintanance & Repair Services
    About Us: PIKPART is the brand name of ROSPL Group company...
    Locations looking for expansion Haryana
    Establishment year 2017
    Franchising Launch Date 2017
    Investment size Rs. 10lac - 20lac
    Space required 800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • Facility Management
    About:     TalbotFORCE aims to redefine the facilities management and hygiene sector..
    Locations looking for expansion Haryana
    Establishment year 2019
    Franchising Launch Date 2020
    Investment size Rs. 5lac - 10lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities