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Colive, a technology-led co-living space provider of fully-managed rental homes, has raised $9.2 million (₹63 crore) in Series A funding from Salarpuria Sattva Group. In addition to a ₹17-crore pre-Series A funding, Colive has raised a total of ₹80 crore.
Founded in 2016, the Bengaluru-based company will utilise the funds to scale up to one lakh beds over the next two years from 12,000 now in Bengaluru, Chennai and Hyderabad. Colive is also looking to Mumbai and Pune and expand its presence in the existing markets. It plans to invest in the build-to-suit inventory that is gaining steam as a new asset class among developers.
“With this funding, we now have more firepower to turn Colive into a full-stack, tech-driven platform,” said Suresh Rangarajan, Founder CEO, told BusinessLine.
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