Image for representation only
Image for representation only

Co-living startup Zolostays has raised $56 million in Series C round led by Investcorp, Nexus Ventures Partners, Mirae Assets, Trifecta Capital among others.

With the latest round, the company has raised $90 million till date.

Founded in 2015 by Nikhil Sikri, Akhil Sikri and Sneha Choudhry, Zolo plans to use these funds for technology, locking in more inventory and strengthening AI-driven operating platforms. The company has provided accommodation to over 125,000 people in the last five years and aims to reach 1 million people in the next five years.

“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.” said Nikhil Sikri, co-founder and CEO of ZoloStays.

With over 500 Zolos across 10 cities, the company plans to provide exclusive co-living campuses to people near their workplace in the near future. Zolo has more than 5 million square feet worth of ‘built-to-suit’ discussions underway, the company said in a statement.

The company said it is soon launching Zolo Red Carpet, which will provide an elite experience including wellness studios, all-day in-house cafes, workspaces, exquisite decor, and concierge services.

Source link