Colive Series A funding round Highlights
- The colive funding round is led by the real estate company Salarpuria Sattva Group.
- The company will use the funds to scale up its operations from 12,000 beds at present to 1 lakh beds over the next two years.
- Co-living market in India is estimated at $93 billion over the next ten years.
- Colive was founded by Suresh Rangarajan in 2016 and previously raised $1.8 million in a seed round.
Co-Living startup Colive raises $9.2 million in series A Funding led by the real estate company Salarpuria Sattva Group.
The Bangalore-based startup is a technology-powered network of Branded Serviced Homes conveniently located near educational institutions & workplaces.
The Company offers Stylish, Safe, Serviced & Smart Homes for students, single professionals & young couples. Homes are fully furnished & are fashionably modern, enhanced with amenities.
In addition, it also looks forward to expanding its presence in Hyderabad, Mumbai and Pune.
Suresh Rangarajan, Founder and CEO of Colive, said, “Our mission is to make fully amenitised technology-enabled stylish living spaces easily accessible. Working professionals and young couples can upgrade their lifestyle and make the living experience with Colive and meet like-minded people in the community making it a total fun place to live.”
Bijay Agarwal, MD Salarpuria Sattva Group said, “We believe Coliving is going to be next big wave in India which will alter the real estate landscape in tier I cities specifically IT hubs. Nowadays, millennials move from one city to another and within city also and with each move, they have to worry about finding and setting up a place to reside in.
Coliving provide a huge respite to them along with community living, safety and additional services. We foresee ourselves in developing built-to suit real estate which will specifically cater to Coliving requirements and we also expect Coliving will generate stable rental income over a period of time.
We are proud to partner Suresh Rangarajan in his journey to create a leading Coliving operator in the country. Suresh Rangarajan is extremely passionate about Coliving and has gone into every detail to make this an extremely successful venture.
The company has experienced a profound growth since inception and we believe that with our support, Colive will emerge as the leading Coliving operator in the country.
In the last couple of years, the Suresh Rangarajan and team of Colive has proved its mettle. We are extremely delighted to partner with them and extend our support.”
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