Zolostays raises USD 56 mn in Series C

New Delhi: Co-living player Zolostays has raised USD 56 million from Series C round of funding led by Nexus Venture Partners, Investcorp, Mirae Assets and Trifecta Capital. 

This money will be used in augmentation of technology in the company, locking more inventory, improving the AI-driven operating platforms in the company, the company said in a statement.  

The comnay has 500 properties in ten cities. An additional 500 properties will start soon. It has joined hands with big real estate firms to provide exclusive co-living premises called ‘Built to Suit’ for those living near their workplaces. 

Zolostays has so far raised USD 90 million. It has a capacity of accommodating 40,000 people in its properties at the moment. It has provided accommodation to 125,000 people in the five years of its existence. Now the company is aiming to reach one million people mark in the coming five years.