**Nexus Venture Partners Plans Exit from Zolostays After 10 Years**
Nexus Venture Partners is reportedly preparing to exit its investment in Zolostays, a co-living startup, a decade after its initial investment. The company, currently valued between ₹1,500 and ₹1,600 crore, has streamlined its operations and is actively seeking new investors to enhance its presence in the competitive premium co-living market.
Sources indicate that Nexus has begun discussions with various venture capital firms and strategic investors, aiming to divest its entire 27% stake in Zolostays. The Bengaluru-based startup has raised approximately $113 million from multiple investors through both debt and equity but has faced challenges in expanding beyond its primary markets. Recently, Zolostays sold its student housing division, which managed accommodations for educational institutions, to Good Host Spaces for $12.5 million. This move aligns with the company’s strategy to concentrate on its core business of managing co-living spaces.
Zolostays has stated that the proceeds from the sale will enable it to focus on its main operations, improve cash flow, and enhance overall financial health. According to data from Tracxn, Zolostays’ funding history includes a $56 million Series C round led by Investcorp and Mirae Asset, along with a $30 million investment in 2019 from IDFC Alternatives, Mirae Asset, and Nexus Venture.
Founded in 2015 by Nikhil Sikri, Akhil Sikri, and Sneha Choudhry, Zolostays began with a $1 million investment from Nexus Venture. Akhil Sikri departed the company in 2023 and is now the Chief Technology Officer at Apsona, a SaaS firm. Zolostays offers premium co-living spaces for students, professionals, and organizations across more than 10 cities. Recent reports indicate that the company achieved an 11.4% year-on-year revenue growth, reaching ₹204.4 crore in FY24, while its losses decreased by 17.4% to ₹57 crore.
As Zolostays continues to navigate the evolving co-living landscape, its focus on core operations and potential new investments may shape its future trajectory in the industry.
**FAQ**
**What is Zolostays?**
Zolostays is a co-living startup that provides premium living spaces for students and professionals, operating in over 10 cities across India.