Thiruvananthapuram

27°C

Light Rain

Enter word or phrase

Look for articles in

Last Updated Wednesday July 24 2019 04:45 AM IST

Ratan Tata makes eighth investment in home rental startup

Text Size
Your form is submitted successfully.

Recipient's Mail:*

( For more than one recipient, type addresses seperated by comma )

Your Name:*

Your E-mail ID:*

Your Comment:

Enter the letters from image :

India Tata Ratan Tata. Photo: AP

Mumbai: Top industrialist Ratan Tata has invested an undisclosed amount in home rental company NestAway Technologies.

This is Tata's eighth personal investment in a startup in 2016 so far. He has invested in over 20 startups.

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.

So far, the start-up has provided quality rental homes to about 5,000 tenants across six cities.

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 $13 million in capital in two rounds from marquee investors, including IDG Ventures India, Tiger Global, Flipkart and entrepreneur Naveen Tewari.

(With agency inputs)

Your Rating:
Your form is submitted successfully.

Recipient's Mail:*

( For more than one recipient, type addresses seperated by comma )

Your Name:*

Your E-mail ID:*

Your Comment:

Enter the letters from image :

Disclaimer

The comments posted here/below/in the given space are not on behalf of Manorama. The person posting the comment will be in sole ownership of its responsibility. According to the central government's IT rules, obscene or offensive statement made against a person, religion, community or nation is a punishable offense, and legal action would be taken against people who indulge in such activities.

Email ID:

User Name:

User Name:

News Letter News Alert
News Letter News Alert