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A startup raises around $110 million from marquee backers, gets valued at close to $220 million, and then eventually gets sold at $11 million! Well, that's the story of NestAway. Did the pandemic kill the home rental startup or was it a victim of the funding winter? Or is there something else?
Ratan Tata-backed proptech startup NestAway Technologies Pvt. has been acquired by listed firm Aurum Proptech Ltd. with a 95% cut in the former's pre-Covid valuation.
Aurum said it has acquired NestAway for about Rs 90 crore, according to an exchange filing. That's a steep decline from its Rs 1,800 crore, or $220 million, valuation in 2019.