Zolostays, a Bangalore based co-living startup, has now secured Series C funding round of $56 million backed by the Mirae Assets, Trifecta Capital, Investcorp, Nexus Venture Partners, and others.
The company revealed that it will now be going to use the new funds to strengthen its technology, locking in more inventories, and strengthening AI-driven operating platforms.
Speaking on the fundraise, Nikhil Sikri, Co-founder, and CEO, said,
“We are creating a personalized living experience keeping the customer at the core. It allows them to personalize the way they live and work, all on their terms. We partner with them as they rewrite their own story and re-imagine life. Our unique approach allows us to enjoy the highest Net Promoter Score (NPS) – a benchmark indicator of customer satisfaction in the industry.”
Sameer Brij Verma from Nexus said,
“We have backed the company in each round since inception. Zolo is now benefitting from the supply side disruptions as other unorganized operators are not able to sustain service levels in the tough environment. With scale, Zolo’s value proposition to both the customer and the asset owner would substantially increase due to the network effect, thus allowing Zolo to win a disproportionate share of the $20 billion managed living services market.”