New Delhi, October 06, 2020: The Khaitan & Co advised Co-Living Parent Pte Ltd., who has raised $56 million in a Series C round led by Investcorp, Nexus Ventures Partners, Mirae Assets and existing investor Trifecta Capital among others led by a core transaction team comprising of partner Vineet Shingal, principal associate Nayantara Kutty, senior associate Tanvi Arora and associate Srishti Mukherjee with assistance from the following: corporate aspects associate Akash Srinivasan, associate Roopali Adlakha, and associate Vaibhavi Tadwalkar, and direct tax aspects partner Bijal Ajinkya and principal associate Rahul Jain.

The current funding round brings Zolo’s total fund-raise to about $90 million. The co-living sector in India is currently facing several challenges as demand and occupancy levels remain a concern with people returning to their hometowns and many companies still allowing employees to work from home.

Zolo, which counts students and young professionals as its residents, will deploy the new funds to invest in technology, locking in more inventory, strengthening AI-driven operating platforms and growth.There are over 500 Zolo facilities spread across ten cities and it plans to add another 500 to absorb future demand.

News Courtesy:PIB | Hindu| DC | LE | LI | LO | IE | LL | PTI |ht | ET | UNI | DNA | FP | Jurist |IndToday|

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