
Ampere Nexus wins award for 'Electric Scooter of the Year' for 2025
The Ampere Nexus is built on a safe and durable LFP battery platform, equipped with advanced features, and engineered for daily convenience as well as long-distance reliability. Notably, the Nexus completed a record-breaking ride from Kashmir to Kanyakumari, showcasing its endurance and road-readiness across India's diverse terrain. This recognition symbolizes excellence across form, function, safety, sustainability, and innovation-highlighting that our products are durable, usable, and adaptable across a wide range of industries and use cases.
Ampere Nexus also won the India Design Mark Award in November 2024 and has travelled 10,000+ kilometres in 45+ days on its journey from Kashmir to Kanyakumari.
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India's Dhruva Space to launch Leap-1 satellite mission aboard SpaceX Falcon-9
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Time of India
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Greaves Cotton Q1 revenue rises 22% to ₹541 cr; engineering arm, EV division fuel momentum
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Mint
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Zolostays' first investor Nexus Venture to check out after a decade
MUMBAI : Ten years after placing its early bet on Zolostays, Nexus Venture Partners is preparing to exit the co-living firm, according to three people in the know. The startup, now valued at about ₹1,500–1,600 crore, has trimmed its non-core operations and is courting new investors, as it looks to scale in the competitive premium co-living space. 'Nexus has initiated talks with several VC (venture capital) funds and some strategics. It is looking to sell its entire 27% stake," one of the persons cited above said. The Bengaluru-based startup, which has raised about $113 million so far from a clutch of investors through debt and equity, has been struggling to grow beyond its core markets. The company had recently sold its student housing business that manages accommodation for colleges and universities to Good Host Spaces for $12.5 million. Zolostays said this sale was a part of the strategy to focus on its core business of managing co-living spaces. At that time, the company had said that the proceeds from the sale will allow it to concentrate on its main business activities, improve cash flow, strengthen overall financial health, and bring higher operational efficiencies. As per data available with Tracxn, Zolostays' fundraising includes a $56 million Series C round led by Investcorp and Mirae Asset. The company had also raised about $30 million in 2019 from investors led by IDFC Alternatives, Mirae Asset and Nexus Venture. Nexus VP has been one of Zolostays' biggest backers, having invested in the company since 2015. 'Nexus has stayed its course in the company and is now looking to sell," said the second person familiar with the development. When contacted, a Zolostays spokesperson denied there was any deal imminent. A Nexus Venture spokesperson did not respond to emailed queries. Founded in 2015 by Nikhil Sikri, Akhil Sikri and Sneha Choudhry, Zolostays had started out with a $1 million funding from Nexus Venture. Akhil Sikri left the company in 2023, and is now the chief technology officer at Apsona, a SaaS firm. A third person in the know pegged the company's valuation at ₹1,500-1,600 crore. Zolostays provides premium co-living spaces to students, professionals and organizations, and it operates in more than 10 cities. As per Entrackr, Zolostays recorded an 11.4% year-on-year (y-o-y) growth in revenue to ₹204.4 crore during FY24, while its losses narrowed by 17.4% to ₹57 crore. The company is yet to detail its financials for the last fiscal. According to a Nasscom blog published in May, the demand for co-living spaces and stock for 2025 are estimated at 6.6 million and 0.3 million beds, respectively. Penetration for the sector is likely to improve from 5% in 2025 to over 10% by 2030, it said. 'India's co-living market is on an upward growth trajectory, with demand rebounding strongly in recent years and operators gearing up for expansion across Tier-I cities and select Tier-II cities," the blog said. "The resurgence of the sector is being fueled by rapid urbanization and migration to cities, especially amongst students and young professionals who continue to seek flexible, relatively affordable, community-driven, and hassle-free housing options," it said.