Nestaway Raises $30 Mn From Tiger Global and others: Report

Home rental startup NestAway has raised $30 Mn (INR 200 Cr) in a round led by Tiger Global, reported TOI.

Russian billionaire Yuri Milner-backed fund Apoletto Asia, Flipkart official Sujeet Kumar and IDG Ventures also participated in this round.

Bangalore-based NestAway was founded by Amarendra Sahu, Smruti Parida, Deepak Dhar, and Jitendra Jagadev in January 2015.

It is an online marketplace for home rentals that turns unfurnished houses into fully-furnished and managed apartments, and provides them at affordable prices to pre-verified tenants. Additionally, the company also provides rental solutions for singles in the cities.

Nestaway rents homes to over 10,000 tenants across Bangalore, Delhi NCR, Pune, and Hyderabad. The startup is planning to expand to Mumbai and Chennai soon.

Earlier in February 2016, Ratan Tata invested an undisclosed amount in Nestaway Technologies Pvt Ltd.

Prior to this, NestAway had raised $12 Mn in a funding round led by Flipkart and Tiger Global in July 2015 and before that, it had raised over $1 Mn(INR 8 Cr.) in March 2015 from InMobi founder Naveen Tewari and venture capital firm IDG Ventures.

Apart from Gurgaon-based online managed marketplace, ShopClues, where tiger Global had invested about $100 Mn in Series E funding in January 2016 and Mumbai-based The Viral Fever (TVF) that received a commitment of $10 Mn (INR 65.6 Cr) from Tiger Global the fund has majorly remained dormant in this quarter.

Other startups in this segment include RentoMojo, RentSher, FlatFurninsh among others.

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