Zolo stays was launched in 2015 by Nikhil Sikri, Akhil Sikri and Sneha Choudhry for students or working professionals to have an affordable place to live with meals who are living away from their houses in different cities. With the need of working spaces, a huge market opportunity has also been rising for co-living places for working individuals especially in working hubs like Bengaluru and Delhi.
Zolostays earlier raised more than $40 million from the likes of IDFC Alternatives; Mirae Asset; Nexus Venture Partners; Alec Oxenford, founder of OLX; Olympia Developers; and Patni Computers Family Office. The total funding raised by Zolo till now stands at $90 million.
Bengaluru- based co-living startup Zolostays (Zolo) has raised Series C funding of $56 million led by Investcorp, Nexus Venture Partners, Mirae Assets, and Trifecta Capital, among others.
Speaking on the fund raise, Nikhil Sikri, Co-founder and CEO, said, “We are creating a personalised 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.”
Zolo is also launching a uber- premium brand extension called Zolo Red Carpet. These micro-living spaces will provide an elite experience, which will include wellness studios, all-day in-house cafes, work spaces, exquisite decor, and concierge services.