NestAway loses another co-founder as Smruti Parida exits the startup

Smruti Parida isn't the first co-founder to exit NestAway as Co-founder Deepak Dhar was reported to be quitting the startup in July.

NestAway loses another co-founder as Smruti Parida exits the startup

Wednesday October 23, 2019,

3 min Read

Days after Urban Ladder Co-founder Rajiv Srivatsa quit his startup, Smruti Parida, who is the Co-founder and Chief Technology Officer (CTO) of NestAway has hung his boots as well.  

He isn't the first co-founder to call it quits at NestAway. Earlier in June, it was reported that Co-founder Deepak Dhar had decided to quit the startup to start up his own fintech venture.

Announcing this move over LinkedIn, Smruti over a post said,

“A co-living city on cloud with a single theme of creating a community of bachelors who are responsible and caring was a bold idea. Still we went ahead to find out if such a possibility exists or not. During the journey, my beliefs and convictions as an engineer, leader, mentor, and friend took shape through the opportunities and challenges. I am here today to tell you that my journey as the CTO of NestAway comes to an end now, though I will continue to be a well-wisher and a cheerleader for NestAway from the side-lines.”


Smruti Parida

Smruti started home rental startup Nestaway in 2015 along with Deepak, Jitendra Jagadev, and Amarendra Sahu to provide affordable rental solutions to individuals.

Before that, Smruti worked with Microsoft as a Program Manager, and also co-founded another startup. 

However, the next move of the entrepreneur couldn’t be ascertained. Speaking about his next move in the post, he added,

“I will be waiting to discover my next mojo in life and you may see me trying something new in coming days. So keep looking around for the guy distributing pamphlets and read one from him, click on the next Instagram survey you see in your feed or read the spam email. It could be me.”

“Till that happens, I am happy to answer any question from my learnings over email and Whatsapp. If you are an entrepreneur stuck at a technology, product and growth dilemma and need help, drop me a note,“ added Smruti.

Over the past few months, NestAway been raising its Series D funding round and has picked up capital from the likes of Tiger Global, Goldman Sachs as well as existing investor Chiratae Ventures. 

Just last month, the startup entered the co-living segment and officially announced the launch of its independent subsidiary, Hello World.

Hello World, which has been around for the last six months, focusses on co-living and student housing and was already 10,000 beds strong, with the launch.

(Edited by Saheli Sen Gupta)