StayAbode
Stayabode is leveraging technology, design, service and brand to build co-living spaces for the rental residential real estate market.
| Date | Investors | Amount | Round |
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| - | investor | €0.0 | round |
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| N/A | €0.0 | round | |
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| Total Funding | 000k | ||
StayAbode, founded in 2016, carved a niche in Bangalore's competitive rental market by developing and managing co-living spaces tailored for young professionals. The company was established by Viral Chhajer, Varun Bhalla, and Devashish Dalmiya. The concept emerged from Devashish's experiences while backpacking, where he recognized the value of community living, a model he sought to introduce to India's urban millennials. The founders leveraged their respective backgrounds in marketing, technology, and finance, having worked at companies like Runnr, Treebo Hotels, and Roadhouse Hostels.
The firm operated on a full-stack business model, leasing entire buildings and transforming them into managed, furnished co-living properties. This approach provided residents with private bedrooms and bathrooms complemented by shared communal areas such as kitchens, lounges, and game rooms. StayAbode's revenue was generated by renting these spaces, offering a hassle-free living experience that bundled amenities like housekeeping, Wi-Fi, and security into the rental cost. This model was designed to appeal to young professionals moving to a new city by eliminating common rental challenges like high deposits and difficult landlords.
Targeting urban millennials, StayAbode focused on creating a community-centric environment, not just providing accommodation. Their service was positioned as a blend of boutique hotel convenience with the social benefits of community living. Over its operational years, the company raised a total of $1.96 million in funding across four rounds from investors including Akatsuki, Incubate Fund India, and notable angel investors. The company underwent two significant acquisitions; first by NestAway's subsidiary, The Hello World, in 2020, and subsequently by Housr in June 2022. The final acquisition by Housr marked an expansion for the parent company into the Bangalore market, adding over 20 properties and 1,200 beds to its portfolio.
Keywords: co-living, rental accommodation, Bangalore, real estate tech, property management, millennial housing, shared living, community housing, managed apartments, rental solutions, Viral Chhajer, Varun Bhalla, Devashish Dalmiya, Housr, NestAway, Incubate Fund, residential real estate, asset-light, PropTech, furnished rentals