Ratan Tata, Chairman Emeritus of Tata Sons and Senior Advisor to IDG Ventures India, has invested an undisclosed amount in his personal capacity into NestAway Technologies Pvt Ltd, one of the leaders 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.
According to Karthik Prabhakar, Vice President of IDG Ventures India, who is on the board of NestAway, as the first investors in NestAway, the Startup has seen it grow at a tremendous pace and achieve clear leadership by far in its vertical. In the press release, he said “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.