UAE proptech startup Silkhaus raises $7.75m seed round

Homegrown UAE startup Silkhaus has secured $7.75m in seed funding, backed by top global venture capitalists and entrepreneurs – one of the largest seed rounds in the MENA region.

Founded in 2021 by Aahan Bhojani and Ashmin Varma, Silkhaus has grown over 10x over the past 12 months.

Silkhaus provides a technology-powered platform for anyone to operate high-quality short-term rentals – be it individual apartment owners, institutional investors or established operators.

As part of its mission to make short-term rentals more accessible to diverse audiences, 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.

Silkhaus’ investors include leading global venture capital funds, technology funds, real estate funds and the strongest entrepreneurs across the emerging markets. Global and regional investors joining this round include Nuwa Capital, Nordstar, Global Founders Capital, Yuj Ventures, Whiteboard Capital and VentureSouq. International family offices, business leaders, and several global proptech entrepreneurs have also joined this round.

Aahan Bhojani, founder and CEO of Silkhaus, said: “We are witnessing a significant increase in alternative accommodation and short-term rentals. However, the management of short-term rentals is highly fragmented and largely offline. Property owners lack the technology and know-how to deliver a world-class and standardised experience. We are building the operating system for property owners – large or small – to operate high quality short-term rentals and deliver memorable guest experiences. With the backing of our global investors, we are excited to build Silkhaus into a global category-leader.”

Nitin Reen, partner at Nuwa Capital said: “Our investment in Silkhaus, alongside global technology and strategic investors, reflects our belief in the future of accommodation solutions and Silkhaus’ ability to operationalise and scale the affinity that customers will expect of the Silkhaus brand. Aahan and Ashmin have differentiated themselves in the right ways with an early emphasis on solid unit economics, market leading NPS, and a value add for all of their stakeholders, including guests and property owners.”

Ole Ruch, managing partner at Nordstar said: “We are excited to see Silkhaus emerge as the leading platform for short-term rentals across Asia, and particularly excited to partner with Aahan and his team who in short time have proven their ability to disrupt two large and fragmented industries: real estate and hospitality.”

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