10,061.5582.45
Stock Analysis, IPO, Mutual Funds, Bonds & More

ZoloStays raises $30 million in Series B funding

The Series-B round also saw participation from IDFC Alternatives and Mirae Asset, as ET had reported in November last year.

, ET Bureau|
Last Updated: Jan 07, 2019, 08.29 AM IST
0Comments
ThinkStock Photos
ThinkstockPhotos-857384308
ZoloStays will also focus on automation and rely on IoT (Internet of Things) for smart electricity and water billing in its properties.
BENGALURU: ZoloStays Property Solutions, a co-living and home rental startup, has raised $30 million in a funding round led by existing investor Nexus Venture Partners to fuel its expansion plan.

The Series-B round also saw participation from IDFC Alternatives and Mirae Asset, as ET had reported in November last year. The transaction is estimated to have pushed up the company’s valuation by more than $100 million.

The startup, which has a platform that serves as a marketplace for property solutions like paying guest accommodation, service apartments and independent flats, will use the money to expand its footprint across the metro cities, according to its cofounder Nikhil Sikri.

The company currently operates in Bengaluru, Hyderabad, Pune, Chennai and Kota and has tied up with numerous building owners and large developers for its expansion plan. In a statement, the company claimed that it is the largest co-living player in India.

ZoloStays will also focus on automation and rely on IoT (Internet of Things) for smart electricity and water billing in its properties.

Also Read

ZoloStays in talks to raise $30 million

Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service