Bengaluru-based rental startup NestAway’s co-living subsidiary The Hello World has acquired Bengaluru-based co-living provider StayAbobe for an undisclosed sum.

StayAbode was acquired with 2,000 bed capacity, and NestAway is looking to acquire at least 2-3 co-living operators. It currently turns unfurnished houses into fully-furnished and managed apartments which it rents to pre-verified tenants, currently managing 150K units across 15 cities.

The organised co-living sector in India has grown 100% over the last year with the entry of startups such as OYO, Nestaway, Grexter, Zolo, Coho and others, and according to recent industry reports on co-living, the shared rental accommodation market will expand 10% annually until 2023.

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