ZoloStays operates co-living and home rental properties under two offerings, Zolo Standard and Zolo Select. The company reports 16,000 live beds and 50,000 locked-in beds and is operational in six cities including Bengaluru, Hyderabad, Pune, Chennai, and Kota. It plans to use recent funding to expand across metro cities and to invest in automation and IoT for smart electricity and water billing, alongside online and offline community-building initiatives. The startup recorded Rs 27 crore in total income for FY18 with losses of Rs 4 crore and is targeting Rs 100 crore in revenue by FY19. ZoloStays says it has grown twelve-fold since its last funding round and aims for ten-fold growth in the next two years. Zolo is a Bangalore-based accommodation booking platform that offers managed affordable housing for students and young professionals. The company operates an Android app and a web portal for bookings. It was founded in September 2015 by Nikhil Sikri (an AIIMS and ISB alumnus) and Akhil Sikri (an IIT Delhi computer science graduate). Zolo says it has 5,000 locked-in beds and plans to scale to over 12,000. The company intends to expand into Chennai and the National Capital Region by the end of the year. Zolo recently raised $5 million in a Series A and will use the capital to fund its scaling and expansion plans.

Total raised

$35M

Funding rounds

2

Latest round

Series B

Latest activity

Jan 2019