Ratan Tata’s 8th investment goes to NestAway, a home rental startup.
This is Ratan Tata’s 8th startup investment in this year. He has funded over 20 startups till now and it’s counting.
Bengaluru | Feb 28, 2016 01:02 PM IST.
NestAway Technologies, a home rental startup which has helped find homes for over 5000 people since it started in 2015 has received an undisclosed funding from India’s top industrialist and chairman emeritus of Tata Group Mr. Ratan Tata.
NestAway operates in over 6 cities across India at present and is expanding to other cities as well.
NestAway turns unbranded, unfurnished houses into fully furnished and managed apartments and provides them at affordable prices to verified tenants, said the statement by IDG Ventures India, which is an investor in the company.
Until recently, NestAway counted working professionals who are single among its target audience, but now it has also forayed into the family segment.
NestAway was founded by Amarendra Sahu, Smruti Parida, Deepak Dhar and Jitendra Jagadev in January 2015.
The company has raised over USD 13 million in capital in two rounds from marquee investors, including IDG Ventures India, Tiger Global, Flipkart and entrepreneur Naveen Tewari.
OffSpace, an office space rental startup is coming up with a concept for renting flexible office spaces, meeting & conference rooms, etc. on an hourly, daily, weekly, monthly basis. Its prices are reported to be almost half of the current market rate for office space rentals.
OffSpace is currently settings up about 50 centers in and around Bengaluru for ease of office space availability in nearby areas at affordable costs.