Bhubaneswar Buzz

Ratan Tata decides to invest in Home Rental Startup by Odisha Boys NestAway

nest away bhubaneswar buzz startup

Tata Sons Chairman Emeritus Ratan Tata has invested an undisclosed amount in home rental startup NestAway Technologies Pvt Ltd.

“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,” said Karthik Prabhakar, vicepresident of IDG Ventures India, “We look forward to Ratan Tata’s guidance and support to help with the next phase of growth.”

The startup has provided rental homes to about 5,000 tenants across six cities. Until recently, NestAway counted single working professionals among its target audience, but it has now entered the family segment.

NestAway has raised over $13 million over two rounds from investors including IDG Ventures India, Tiger Global, Flipkart and Naveen Tewari.

NestAway was launched in January 2015 by Amarendra Sahu, Smruti Parida, Deepak Dhar and Jitendra Jagadev.

Source : Economic Times