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In the news
Aurum PropTech NSE 0.85 % Ltd, NSE 0.85 %, as part of its continued inorganic growth strategy, has acquired Goldman Sachs-backed Nestaway’s co-living subsidiary HelloWorld Technologies India NSE -0.30 % and real estate data analytics company CareerSocially for total over Rs 61 crore.
The HelloWorld has acquired StayAbode and is looking for 2-3 more acquisitions as part of it’s plan to expand capacity to 50,000 beds by march next year. The HelloWorld currently has 20,000 beds and plans to add 30,000 more beds by end of the 2020-21 fiscal through both organic and inorganic routes, its founder and CEO Jitendra Jagadev told.
Bengaluru-based home rental startup NestAway’s co-living subsidiary The Hello World has acquired Bengaluru-based co-living provider StayAbobe in an undisclosed value deal. The acquisition was done a few months ago and has been announced now.Talking to Economic Times, founder and CEO Jitendra Jagadev said that StayAbode was acquired with a capacity of 2,000 beds.
Hello World, an independent subsidiary of Nestaway Technologies that offers co-living spaces for students and professionals in 19 cities pan India, announced the launch of 360Life, its contactless home-rental solutions for the Covid era.360Life primarily focusses on three axes of living in the current scenario and comes equipped with multiple tech-enabled features in the co-living space.
Bengaluru-based Nestaway Technologies officially announced the launch of its independent subsidiary Hello World on Wednesday.Hello World, which has been around for the last five months, focusses on co-living and student housing and is already 10,000 beds strong.
Nestaway Technologies, which is into rental property management, has announced its foray in the co-living business and said it plans to invest $10 million (about Rs 70 crore) this fiscal to reach 50,000 beds.The Bengaluru-based firm has set up a subsidiary -- The HelloWorld to enter the co-living segment which will cater to both students and professionals.
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