<article>Bengaluru-based paying guests service provider<a style="color: #000080;" href="http://dealstreetasia.com/tag/zolo-stays" target="_blank"> Zolo Stays</a> has raised $5 million in Series A funding led by existing investor <a style="color: #000080;" href="http://dealstreetasia.com/tag/nexus-venture" target="_blank">Nexus Venture Partners</a>.</article>

Bengaluru-based paying guests service provider<a style="color: #000080;" href="http://dealstreetasia.com/tag/zolo-stays" target="_blank"> Zolo Stays</a> has raised $5 million in Series A funding led by existing investor <a style="color: #000080;" href="http://dealstreetasia.com/tag/nexus-venture" target="_blank">Nexus Venture Partners</a>.
The funding round also includes venture debt from <a style="color: #000080;" href="http://dealstreetasia.com/tag/innoven-capital" target="_blank">Innoven Capital</a>.
The startup plans to use the latest capital raised to increase its reach from 5,000 locked-in beds to over 12,000 beds and expand to Chennai and NCR by the end of this year, the company said, in a release.
Founded in 2015, Zolo offers  branded paying guest accommodation with daily meals, housekeeping, Wi-Fi, through an integrated app based technology platform at locations near large office clusters in tier 1 cities.
“We believe there is a large market gap in the managed affordable living space targeted at students and young professionals moving into larger cities for employment and education opportunities. Zolo’s first principles approach to building a scalable cost-effective execution engine managed by their strong technology platform has allowed them to emerge as a leader in the market in a short duration,&#8221; said Sameer Brij Verma of  Nexus Venture Partners.
Zolo further said it also has a healthy pipeline of &#8220;built-to-suit” managed accommodation properties under development where land owners are partnering with Zolo to manage them on an end-to-end basis and share profits.
Nexus Venture Partners is an early-stage investor with investment size ranging from $500,000 to $10 million in early-growth stage companies in the US and India. It has invested in over 70 companies so far including <a style="color: #000080;" href="http://dealstreetasia.com/tag/snapdeal" target="_blank">Snapdeal</a>, <a style="color: #000080;" href="http://dealstreetasia.com/tag/runnr" target="_blank">Runnr</a>, <a style="color: #000080;" href="http://dealstreetasia.com/tag/craftsvilla" target="_blank">Craftsvilla</a>, <a style="color: #000080;" href="http://dealstreetasia.com/tag/housing" target="_blank">Housing</a> and <a style="color: #000080;" href="http://dealstreetasia.com/tag/dhruva" target="_blank">Dhruva</a>.
It recently put in $7 million as follow on investment in Bengaluru- and Austin-based startup <a style="color: #000080;" href="http://dealstreetasia.com/tag/postman" target="_blank">Postman</a>, a platform that helps developers build, test, document, and share their APIs at a faster pace.
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<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/55445-55445/" target="_blank">India: Postman raises $7m Series A funding from Nexus Venture Partners</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/india-insurance-seller-turtlemint-raises-seed-funding-led-by-nexus-ventures-29791/" target="_blank">India: Insurance seller Turtlemint raises seed funding led by Nexus Ventures</a>

Bengaluru-based paying guests service provider Zolo Stays has raised $5 million in Series A funding led by existing investor Nexus Venture Partners.

India: Nexus Venture leads $5m funding round in Zolo Stays

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India: Nexus Venture leads $5m funding round in Zolo Stays

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