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NestAway turns unfurnished houses into fully-furnished and managed apartments and provides them at affordable prices to pre-verified tenants

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.

In May last year, the Bangalore-headquartered startup had raised over US$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.

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.

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.

Also Read: This startup helps singles find affordable NestAway from their home

Until recently, NestAway counted single working-professionals among its target audience, but now it has also forayed into the family segment.

“NestAway’s mission to fix the rental housing market by inspiring trust between owners and tenants raised a notch up through collaboration with Tata – the name that always has & continues to define the word “trust” for millions of Indians. It’s a privilege to work on such an impactful problem with Tata with his visionary guidance & mentoring,” said Amarendra Sahu, Co-founder & CEO of NestAway.

Tata has invested in over two dozen companies, mostly consumer Internet startups. The names include Snapdeal, Paytm, Teabox, Crayon Data, and Chinese handset maker Xiaomi. He is also Special Advisor at Singapore-based VC firm Jungle Ventures and Senior Advisor at IDG Ventures.

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