Zolo Raises $56 Million for Co-Living: Travel Startup Funding This Week
Photo Credit: Co-living means living with a lot of color, at least in India. Here's an example of extended-stay lodging from Zolo, a startup based in Gurgaon, India. Zolo
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Travel Startup Funding This Week
Each week we round up travel startups that have recently received or announced funding. Please email Travel Tech Reporter Justin Dawes at [email protected] if you have funding news.
This week, travel startups announced more than $77 million in funding.
>>ZoloStays Property Solutions, a tech-enabled a co-living startup, has raised about $56 million in a Series C round of funding.
Investcorp led the round. Nexus Venture Partners, Mirae Asset, and Trifecta Capital also participated. The startup, based in Bengaluru, India, has raised about $90 million to date.
Zolo offers shared and private rooms for rent at more than 450 properties across 10 Indian cities, including Gurugram, Hyderabad, and Chennai. It claims to have served more than 125,000 people over its history since 2015.
The company isn't a travel startup, per se, but many hotel companies and corporate extended-stay brands have considered investing in the general business concept.
The jury is still out on whether "co-living" has hit a speed bump or not. Will the experience of remote work lead to more digital nomads than ever? Or are shared spaces and revenue crunches making the concept less
