Ratan Tata invests in home rental network NestAway

BANGALORE: Ratan Tata, Chairman Emeritus of Tata Sons, has invested an undisclosed amount in his personal capacity into NestAway Technologies, a managed online marketplace for long-term home rentals in India.

Established in January 2015 by Amarendra Sahu, Smruti Parida, Deepak Dhar, and Jitendra Jagadev, NestAway enables users in the discovery of homes as well as the fulfilment (closing the rental transaction) and post rental services (rent collection, home repair services, etc).

At the same time, for owners who have no time or expertise to generate yield from their home, NestAway enables them to lease their homes with almost no hassle.

In May last year, the Bangalore-headquartered startup had raised over $1.2 million from IDG Ventures India, with participations from Naveen Tewari, Founder of home grown mobile ad network InMobi, and a few angel investors.

NestAway essentially turns unfurnished houses into fully-furnished and managed apartments and provides them at affordable prices to pre-verified tenants. So far, the startup claims to have provided rental homes to around 5,000 tenants across six cities.