29 February, 2016, Bangalore: Moved by the startup industry of the country, Ratan Tata, Chairman, Tata Sons has made another investment in the startup. NestAway has managed to attract the interest of the business tycoon and has raised an undisclosed funding from TATA.
Karthik Prabhakar, Vice-President of IDG Ventures India 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. We look forward to Ratan Tata’s guidance and support to help with the next phase of growth.”
NestAway, deals in providing a rental home service on sharing basis to students and working class. The company claims that it has provided its services to 5000 tenants across six cities and now, it has entered in the family segment. The company has managed to raise funding of over US $13 million in its two rounds from its investors including IDG Ventures India, Tiger Global, Flipkart and Naveen Tewari.
One of the biggest business tycoons of the country, Ratan Tata has been moved by the startup revolution of the country. Since last year, he has been one of the active angel investors in sartups. Chairman Emeritus of Tata Sons, Ratan Tata had made 13 investments in 13 startups. Startups that managed to attract the interest of the business tycoon include Bollant, Invictus Oncology, Moglix, Teabox, Cashkaro, Tracxn, DogSpot, UrbanClap, Abra, YourStory, Lybrate, Xiaomi and Snapdeal.