Colive seeks $ 20 mn funding from Venture Capital

29 Nov 2023 CW Team

Colive, a platform rooted in technology that specialises in the management of fully rented homes, is engaged in discussions with venture capital firms with the aim of securing approximately $ 20 million to facilitate the expansion of its operations.

The company has outlined its intentions to double its room capacity in key cities such as Mumbai, Pune, Bengaluru, Hyderabad, and Chennai.

Colive, headquartered in Bengaluru, has set a target to oversee the management of over 30,000 rooms by the conclusion of the year 2024.

Suresh Rangarajan, Founder, expressed, "We are in the process of raising capital and exploring various partnerships with builders to broaden our portfolio, given the existing disparity between demand and supply. We anticipate that Co-living will emerge as a significant trend in India, reshaping the landscape of rental real estate."

The company is actively engaged in the development of tailor-made real estate structures crafted to cater to the specific requirements of co-living arrangements. Furthermore, it is poised to enter the domain of hybrid integrated pods in its upcoming projects, seamlessly integrating co-living and co-working spaces.

In 2019, as part of a series-A funding, The Sattva Group acquired a 50% stake in Colive for Rs 630 million.

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