StartupFox

HerSpace has secured a $40 million capital commitment from Gray Matters Capital, taking the impact investor's total commitment to the Bengaluru company to $50 million, including $10 million invested in 2025. The capital is structured as a mix of debt, quasi-equity and equity, to be deployed over the next 30 months rather than paid at once. The split between the three has not been disclosed.

Gray Matters Capital was founded in 2006 by Robert Pattillo, who is also named as one of HerSpace's two founders alongside Puneeth Thimmegowda. Simha Nagaraj is chief executive.

HerSpace funds, designs, builds and operates leased accommodation for industrial workers, selling to manufacturers rather than to individual tenants and running the buildings itself, including security, housekeeping, food and statutory compliance. The accommodation is factory-built and modular, spanning twin and quad rooms for sites of 50 to over 1,000 beds, access-controlled women's blocks with female wardens and round-the-clock monitoring, and self-contained units for supervisors who relocate with families. Residences carry rooftop solar and on-site sewage treatment, which the company packages as carbon credits and ESG reporting for its clients.