Tata Sons chairman emeritus Ratan Tata has invested an undisclosed amount in his personal capacity into NestAway Technologies, a player in the managed...
Tata Sons chairman emeritus Ratan Tata has invested an undisclosed amount in his personal capacity into NestAway Technologies, a player in the managed home rentals market in India.
Tata is an active investor in the technology and e-commerce start-up segment and has made over 20 such investments.
NestAway essentially turns unbranded, unfurnished houses into fully furnished & managed apartments and provides them at affordable prices to verified tenants. So far, the start-up has provided quality rental homes to about 5,000 tenants across six cities.
NestAway’s focus has been on single working professionals, but now it has also forayed into the family segment.
NestAway was founded in January 2015 by Amarendra Sahu, Smruti Parida, Deepak Dhar, and Jitendra Jagadev. Besides Tata being the latest investor, NestAway has raised over $13 million in capital over two rounds from investors including IDG Ventures India, Tiger Global, Flipkart and Naveen Tewari.
“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 with Mr Tata with his visionary guidance & mentoring”, said Amarendra Sahu, Co-founder & CEO of NestAway.