Azuro acquired by prop-tech giant Square Yards

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Azuro acquired by prop-tech giant Square Yards February 10, 2020 Mumbai Angel Network’s prop-tech startup Azuro was acquired by Reliance group backed SquareYards in a full share swap deal.  Founded in 2016 by IIT Bombay alumni - Altaf Ahmad, Sushant Kumar, Sudhanshu Mishra, Ayush Agrawal, Vishal Chauthmal, Azuro, which current operations are primarily out of Mumbai, has grown significantly across the city. The startup uses in-house tech solutions to help house owners find tenants in a shorter time span and manages the property throughout the lifecycle of renting unlike the traditional rental brokerages. MA invested in Azuro in late 2016 along with Kae Capital and White Unicorn Ventures. "We are extremely excited to execute our end to end property management vision with Squareyards, we aim to catalyse the next phase of growth leveraging the Squareyards expertise in driving on ground transaction at a massive scale using the operational tech, and the platform Squareyards.com ", Altaf Ahmad, co-founder of Azuro. Abhishek Bhatewara, Mumbai Angels Investor and Director of Rohan Builders, commenting on the acquisition said,  “We invested in Azuro at a very early stage as we believed urban rental landscape was ripe for change. Personally, it was great to be involved as a board director and engaged investor, guiding the team in the early days and watching the company grow. At Rohan Builders, we work with Square Yards as well, and in my view, the acquisition will add synergies to the current operations of both Azuro and Square Yards." Nandini Mansinghka, Co-promoter and CEO at Mumbai Angels Network commented, “We are very excited about the acquisition of Azuro by  SquareYards which gives the investors an association with a profitable startup in the prop-tech sector. It has been a pleasure to partner with Team Azuro from their very early days and we wish Azuro founders the very best in their future journey.”