Rs 1800 crore valuation, Rs 700 crore funding, but this company was sold for just Rs 90 crore due to…

The Indian startup ecosystem finds itself embroiled in another controversy as Amrendra Sahu, co-founder of home rental platform Nestaway, filed an FIR against the company’s investors. These investors include Tiger Global, Goldman Sachs, Chiratae Ventures, along with co-founders Jitendra Jagadev and Smriti Parida.

This case has revealed troubling details about financial and legal turmoil within the Indian startup ecosystem. Here’s how a company once valued at Rs 1800 crore with Rs 700 crore in funding was sold for just Rs 90 crore, raising serious questions about corporate governance and investor practices.

In 2020, Nestaway was valued at Rs 1800 crore and had raised Rs 700 crore in funding. However, the company was sold for a meager Rs 90 crore, marking a dramatic decline in its valuation.