UAE proptech Silkhaus comes out of stealth with $7.7 million in seed funding
Silkhaus, a Dubai-based platform for short-term rentals has emerged from stealth with a $7.75 million seed funding to accelerate its expansion.
- Silkhaus was founded by CEO Aahan Bhojani and Ash-min Varma in 2021. The startup provides a marketplace for short-term rentals across the UAE, with plans to expand to the rest of the Middle East and North Africa region (Mena) countries and Southeast Asia.
- Silkhaus lists high-grade accommodation options, located in proximity to central business districts and leisure destinations. Multinational enterprises also choose Silkhaus for qualified long-stays for their employees.
- Silkhaus optimises revenue and streamlines operations for property owners, allowing them to list multiple or single units on the platform with an average revenue yield increase between 20 - 40 per cent. Guests can easily access high quality, well-maintained properties, elevating their experience, whether they are travelling for business or leisure.
- The startup has grown over 10x in the last 12 months while operating in stealth mode. Silkhaus anticipates its market opportunity to grow from the current $13 billion to $18 billion by 2026, across MENA, South Asia and Southeast Asia.
- Investors in the round include Nuwa Capital, Nordstar, Global Founders Capital, as well as International family offices, business leaders, and several global proptech entrepreneurs.
