Total amount raised
$98 Million
Latest funding date
7/1/2020
Location
Zolo has successfully raised funds through 4 distinct funding rounds, with the latest being a Series C round. The company is backed by 9 investors, including notable names like Investcorp and Trifecta Capital Advisors.
Keep reading to explore the intricacies of Zolo's fundraising journey and the investors backing this innovative platform.
What Is Zolo?
Zolo is a company that provides shared accommodation options for individuals, primarily operating in the real estate and rental property industries. Based in Bangalore, Karnataka, India, Zolo has a significant presence in the mobile and social media sectors as well.
Founded in an unspecified year, Zolo has grown to employ between 501 and 1000 people. The company offers coliving spaces across various cities in India, emphasizing affordability, convenience, and a vibrant community for socializing and networking.
How Much Funding Has Zolo Raised?
- Series A
- Amount Raised: USD 5,000,000
- Date: January 2017
- Lead Investors: Nexus Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their coliving spaces and enhance their service offerings.
- Series B
- Amount Raised: USD 30,000,000
- Date: January 2019
- Lead Investors: IDFC Private Equity, Mirae Asset, Nexus Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand into new cities.
- Debt Financing
- Amount Raised: USD 7,000,000
- Date: December 2019
- Lead Investors: Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support working capital needs and operational expenses.
- Series C
- Amount Raised: USD 56,000,000
- Date: July 2020
- Lead Investors: Investcorp
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in technology, secure more inventory, and enhance AI-driven operating platforms.
Total Amount Raised: USD 98,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Investcorp
- Details: Investcorp is a global investment manager specializing in alternative investments across private equity, real estate, credit management, and absolute return investments.
- Investment Focus Areas: Private equity, real estate, credit management, absolute return investments.
- Notable Investments: Tiffany & Co., Gucci, Saks Fifth Avenue.
- Nexus Venture Partners
- Details: Nexus Venture Partners is a venture capital firm that invests in early and growth-stage companies across sectors such as technology, consumer, and healthcare.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Snapdeal, Delhivery, Druva.
- Mirae Asset
- Details: Mirae Asset is a global financial services group that provides asset management, wealth management, and investment banking services.
- Investment Focus Areas: Technology, healthcare, consumer goods.
- Notable Investments: BigBasket, Ola, Zomato.
- Trifecta Capital Advisors
- Details: Trifecta Capital provides venture debt to early and growth-stage companies in India.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: UrbanClap, CarDekho, Rivigo.
- IDFC Private Equity
- Details: IDFC Private Equity is a leading private equity firm in India, focusing on infrastructure and related sectors.
- Investment Focus Areas: Infrastructure, energy, transportation.
- Notable Investments: Not publicly disclosed.
What's Next for Zolo?
As Zolo looks to the future, the company is poised to capitalize on the growing demand for flexible living arrangements. With plans to expand its reach to one million residents and launch a premium brand extension, Zolo Red Carpet, the opportunities are vast. The company is also engaging in 'built-to-suit' discussions to create exclusive co-living campuses, which could significantly increase its market share.
Given the substantial investments from prominent venture capital firms, Zolo is well-positioned for future fundraising rounds. The company's focus on technology and AI-driven platforms will likely attract further investment, enabling it to scale operations and enhance customer experiences. However, Zolo must navigate challenges such as maintaining service quality amidst rapid expansion and facing competition from other co-living operators.
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