Total amount raised
$98 Millions
Latest funding date
7/1/2020
Location
Zolo has successfully raised significant funding over multiple rounds, attracting a diverse group of investors including Investcorp and Trifecta Capital Advisors. The company specializes in providing managed co-living spaces, catering to the growing demand for flexible and community-oriented living arrangements.
Keep reading to explore the intricacies of Zolo's fundraising journey and the investors backing this innovative platform.
What Is Zolo?
Founded in 2015, Zolo is a Bangalore-based company specializing in managed co-living spaces. The company was established by Akhil Sikri, Isha Choudhry, Nikhil Sikri, and Sneha Choudhry.
Zolo offers shared accommodation options with various amenities, catering primarily to students and young professionals. The company aims to provide a community-oriented living experience.
With a workforce of 501-1000 employees, Zolo continues to expand its reach across multiple cities in India, making it a prominent player in the co-living industry.
How Much Funding Has Zolo Raised?
- Series A
- Amount Raised: $5M
- Date: January 2017
- Lead Investors: Nexus Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their co-living spaces and enhance their service offerings.
- Series B
- Amount Raised: $30M
- 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 enter new markets across India.
- Debt Financing
- Amount Raised: $7M
- 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: $56M
- 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: $98M. Current Valuation: Not publicly disclosed.
Key Investors
- Investcorp
- Details: Investcorp is a global investment firm specializing in alternative investments. They manage a diverse portfolio including private equity, real estate, and credit management.
- Investment Focus Areas: Private equity, real estate, credit management.
- Notable Investments: Gucci, Tiffany & Co., Saks Fifth Avenue.
- Nexus Venture Partners
- Details: Nexus Venture Partners is a venture capital firm that invests in early and growth-stage companies. They have a strong focus on technology and consumer businesses.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Delhivery, Druva, Unacademy.
- Mirae Asset
- Details: Mirae Asset is a global financial services group offering asset management, wealth management, and investment banking services. They have a broad investment portfolio.
- Investment Focus Areas: Technology, real estate, financial services.
- Notable Investments: Naver, Kakao, Big Hit Entertainment.
- Trifecta Capital
- Details: Trifecta Capital specializes in providing venture debt to high-growth startups. They support companies across various sectors with financing solutions.
- Investment Focus Areas: Venture debt, high-growth startups.
- Notable Investments: BigBasket, Rivigo, UrbanClap.
- IDFC Private Equity
- Details: IDFC Private Equity is a leading private equity firm in India. They focus on infrastructure and related sectors.
- Investment Focus Areas: Infrastructure, energy, transportation.
- Notable Investments: GMR Infrastructure, Gujarat Pipavav Port, Manipal Hospitals.
What's Next for Zolo?
As Zolo looks to the future, the opportunities are vast. The co-living market in India is projected to be worth between $6 billion and $10 billion annually, providing a significant growth avenue. Zolo aims to expand its reach to accommodate 1 million residents in the next five years, leveraging technology and AI-driven platforms to enhance customer experience and operational efficiency.
Future fundraising seems likely, given the aggressive growth plans and the need for continuous innovation. The company may seek additional investments to support technology advancements and inventory expansion. However, challenges such as managing rapid expansion, maintaining service quality, and navigating competition from other co-living startups and traditional rental markets could pose hurdles along the way.
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