Ratan Tata backed NestAway raises $30 mn from Tiger, Yuri Milner, IDG

Mumbai: Ratan Tata-backed home rental company NestAway Technologies has raised around USD 30 million (around 200 crore) in a Series C financing led by Tiger Global, Russian billionaire Yuri Milner and IDG Ventures India.

Flipkart's former head of operations, Sujeet Kumar, also participated in the investment round, NestAway said today in a statement issued here.

"NestAway's mission is to make city housing available and affordable at scale. We are truly excited to see participation of our existing investors and welcome Yuri to the tribe," Amarendra Sahu, Co-founder and chief executive of NestAway, said.

Earlier this year in January, the Bengaluru-based startup had raised an undisclosed round from Ratan Tata, the chairman emeritus of Tata Group.

NestAway had previously raised over USD 13 million in capital over two rounds from marquee investors including IDG Ventures India, Tiger Global, Flipkart, Naveen Tewari and Kanwaljit Singh.

NestAway manages the end-to-end requirements of a rental property throughout its rental life cycle.

The company charges a small percentage of monthly rent it generates from the house as commission.

Further, it does not charge any brokerage or upfront fees to either the owner or the tenant, it said.

Amarendra Sahu, along with Smruti Parida, Deepak Dhar, and Jitendra Jagadev founded NestAway in January 2015.

The company expects to house a million Indians in the next 2-3 years.