Zocalo Realtech Pvt Ltd, which owns and operates Zocalo, a hostel and apartment rental listing website, has raised seed funding to expand its geographical footprint, increase team size, technology improvement, and for marketing purpose. The round was led by Rajesh Sawhney, Founder of GSF Accelerator, Sachin Bhatia, Co-founder of MakeMYTrip and others.
Founded in May 2014 by IIM-Ahmedabad Uday Lakkar, Zocalo connects individuals directly with accommodation providers with listings of hostels, PGs, shared and rental apartment information. Currently, it is present in Delhi NCR and Mumbai, the startup has an inventory of over 75,000 PGs & hostel beds and over 10,000 accommodation listings. The startup claims to add 6,000 new listings every month. It’s Android app has seen over 1,500 downloads so far.
The home rental and shared accommodation space has a number of startups that have attracted investor attention. In March, Bengaluru-based online home rentals firm, NestAway raised Rs. 8 crore from InMobi founder Naveen Tiwari and VC firm IDG Ventures. In February, peer-to-peer property listings site NoBroker received $3 million in Series A round from SAIF Partners and Fulcrum Capital. And in January, community-based online exchange for finding rented accommodation, Grabhouse.com had closed a series A funding of $2.5 million from Kalaari Capital and Sequoia Capital.