Peter Kennedy, a senior advisor at Burda Principal Investments, has filled in since March 15 as interim CEO to "provide strategic guidance and direction".
The company has also recently witnessed the departure of its chief technology officer (CTO) and chief financial officer (CFO).
CTO Pramodh Rai recently resigned after spending about 1.5 years building up the co-living startup's tech infrastructure, and will leave Hmlet in June. He will continue to play an advisory role in the startup.
CFO Rajive Keshup left the firm in October last year. Joseph Thia, an investment manager at Burda Principal Investments, was seconded to Hmlet to fill the role of interim CFO. Thia will end his six-month secondment in May 2021.
In 2019, Burda Principal Investments led Hmlet's US$40 million Series B funding round, with participation from existing investors such as Sequoia Capital India. That latest round valued Hmlet at around US$154.4 million, according to data platform VentureCap Insights.