Pioneering the Co-living Revolution in India - Colive Aims USD 20 Million Funding

Colive's Strategic Expansion Plan

Colive, a technology-driven platform specializing in fully managed co-living spaces, is actively engaging with venture capital firms to secure approximately $20 million. This funding is earmarked to fuel the company's ambitious expansion plans. Colive, with its base in Bengaluru, aims to significantly boost its room capacity across key Indian cities including Pune and Bengaluru. The target is to manage over 30,000 rooms by the end of 2024.

Seeking Capital and Partnerships for Growth

Suresh Rangarajan, the founder of Colive, explained that the company is seeking capital and exploring multiple partnerships with builders to expand its portfolio. This decision stems from the recognition of a demand-supply mismatch in the market. Rangarajan strongly believes that co-living will be the next significant trend in India, revolutionizing the rental real estate landscape.

Innovating in Co-living and Co-working Spaces

Colive is not just expanding its geographical footprint; it is also innovating in the type of spaces it offers. The company is currently developing custom-built real estate specifically designed for co-living arrangements. Furthermore, it plans to introduce hybrid integrated pods in its upcoming projects. These innovative pods are designed to blend co-living and co-working spaces, catering to the evolving needs of modern urban dwellers.

Significant Investment by The Sattva Group

In a major boost to its growth trajectory, Colive received a substantial investment in 2019. The Sattva Group acquired a 50% stake in the company for Rs 63 crore as part of a Series-A funding round. This investment underscored the potential of Colive in the co-living sector and provided a strong foundation for its future expansion plans.