Co-living startup Zolo has raised $56 million in Series C funding led by Investcorp, Mirae Assets, Nexus Venture Partners, and Trifecta Capital, among others.
As per the startup, it plans to use the fresh funds to improve its technology, locking in more inventory, and strengthening AI-driven operating platforms.
Talking about this funding round, Nikhil Sikri, Co-founder and CEO of Zolo, said,
“We are creating a personalized living experience keeping the customer at the core. It allows them to personalize the way they live and work, all on their terms. We partner with them as they rewrite their own story and re-imagine life. Our unique approach allows us to enjoy the highest Net Promoter Score (NPS) – a benchmark indicator of customer satisfaction in the industry.”
Founded by Akhil Sikri, Isha Choudhry, Nikhil Sikri, and Sneha Choudhry in 2015, Zolo is a Bangalore based co-living startup. The startup claims that more than 40,000 people can reside in Zolo properties at present, and it has served around 125,000 people in the past five years.
With this fresh funding amount, the company aims to continue aggressive growth in the country.
The company has also partnered with real estate developers to provide better and exclusive co-living campuses called Built to Suit.