Nestaway forays into co-living and student housing, launches Hello World
Focussing on providing emotional safety for urban migrants and students, Hello World by co-living startup Nestaway will provide 10,000 beds across 15 Indian cities.
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.
At present, it is available in 15 cities, including Bengaluru, Hyderabad, Delhi-NCR, Pune, Kota, and Dehradun. The home rental startup claims that Hello World has recorded a 90 percent occupancy rate in the last five months.
The announcement comes one day after YourStory reported that Nestaway Technologies raised a total of Rs 34.92 crore from Goldman Sachs, as part of its ongoing Series D round. Existing investors IDG India (now Chiratae Ventures) and Tiger Global also participated in the funding.
In a statement, Nestaway founder Jitendra Jagadev said,
"It is important for urban migrants to find a sense of belonging in a new city and a place to call home. Our key factor will always be to provide emotional safety to our customers while encouraging community living. At Hello World, we host well-designed community events that bind the residents together, enriching them emotionally."
A Hello World membership will provide students and urban migrants access to engaging community activities, weekly gatherings, and an online community to exchange conversations, common interests, and meet like-minded people.
It will also provide additional benefits including therapy dogs on properties, free food samples for a day, community gatherings in the building, smart-tech security systems, housekeeping services, round-the-clock concierge service, and internal transfers to any other property.
Moreover, Hello World charges one month's rent as security deposit - at zero brokerage fee.
Additionally, it provides free stay for parents who come to meet their children. Hello World by Nestaway is also LGBTQIA+ friendly, claims the startup.
The subsidiary leases out entire plots of land or buildings to develop purpose-built rental houses. The startup plans to launch Hello World in nine more cities, aiming to reach 50,000 plus beds in the next year.
(Edited by Saheli Sen Gupta)