stanza living: Stanza Living acquires the Internet of Things platform Singularity

Managed hosting provider Stanza Living has acquired enterprise Internet of Things (IoT) platform company Singularity Automation for an undisclosed amount. The acquisition comes days after Stanza Living raised ₹₹425 crore in debt financing led by Kotak Bank and RBL Bank, with participation from its existing debt provider Alteria Capital.

Stanza Living has raised nearly ₹1,670 crore in debt and equity combined, and continues to be the most capitalized player in the segment.

The acquisition will strengthen Stanza Living’s existing proprietary technology ecosystem, accelerating the company’s focus on developing highly customized IoT-based solutions for the managed accommodation industry.

Following the acquisition, the founders and core team of Singularity Automation will join Stanza Living.

“Technology has always been at the forefront of everything we do at Stanza Living. She has played a pivotal role in improving efficiency, strengthening our competitive advantage, and creating a high-quality, hassle-free and safe living experience for our consumers,” said Anindya Dutta, MD, Stanza Living. Backed by IvyCap Ventures and Times Internet, Singularity Automation was launched in 2017 to develop and implement resourceful IoT solutions and products for the managed life segment. “Given our shared DNA and aligned vision to reinvent the managed hosting space, I am confident that our existing product suite and our team’s proven track record will further refine the industry-leading technology ecosystem of Stanza Living,” said Chakradhar Reddy, CTO, Singularity. Automating.

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