Mr Ratan Tata, Chairman Emeritus
of Tata Sons and Senior Advisor to IDG Ventures India, has invested anundisclosed
amount in his personal capacity into NestAway Technologies Pvt Ltd, a leader in
the ‘managed’ home rentals market in India.NestAway is India’s first “home
rental network”.
It seeks to manage all the rental pains on both homeowner and
tenant sides. NestAway essentially turns unbranded, unfurnished houses into
fully furnished & managed apartments and provides them at affordable prices
to verified tenants. So far, the startup has provided quality rental homes to about
5,000 tenants across 6 cities. Until recently, NestAway counted Single working
professionals 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.NestAway’s mission to fix the rental housing market by
inspiring trust between owners & tenants raised a notch up through
collaboration with Mr Tata – the name that always has & continues to define
the word “trust” for millions of Indians. It’s a privilege to work on such an
impactful problem with Mr Tata with his visionary guidance & mentoring”,
says Amarendra Sahu, Co-founder & CEO of NestAway.Karthik Prabhakar, Vice President
of IDG Ventures India, who is on the board of NestAway, said, “As the first
investors in NestAway, we have seen the company grow at a tremendous pace and
achieve clear leadership by far in its vertical. It is an honour to have Mr
Ratan Tata, an epitome of trust and quality, as an investor in the company and
look forward to his guidance and support to help with the next phase of
growth.”NestAway has raised over $13 million in capital over two rounds from
marquee investors including IDG Ventures India, Tiger Global, Flipkart and
Naveen Tewari.
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