Top industrialist Ratan Tata has invested an undisclosed amount in home rental company NestAway Technologies. This is Tata’s eighth personal investment in a startup in 2016 so far. He has invested in over 20 startups. NestAway turns unbranded, unfurnished houses into fully furnished and managed apartments and provides them at affordable prices to verified tenants.
So far, the startup has provided quality rental homes to about 5,000 tenants across six cities. Until recently, NestAway counted working professionals who are single among its target audience, but now it has also forayed into the family segment.
NestAway was founded by Amarendra Sahu, Smruti Parida, Deepak Dhar and Jitendra Jagadev in January 2015. The company has raised over $13 million in capital in two rounds from marquee investors, including IDG Ventures India, Tiger Global, Flipkart and entrepreneur Naveen Tewari.
Did You Know?
- Ratan Naval Tata was born on 28 December, 1937, into a wealthy and famous family of Mumbai.
- Ratan Tata’s parents separated during mid-1940s, when he was just 7 years old. Thereafter, he was brought up and raised by his grandmother.
- In December 1962, Ratan joined the Tata Group. He joined at Jamshedpur to work at the Tata Steel. He worked as a blue-collar employee till 1971.
- Ratan Tata took over as Chairman of Tata Industries in 1981
- Under the leadership of Ratan Tata, the Tata Group successfully acquired Jaguar, Corus, Land Rover and Tetly.
