After grabbing a pre-series A round of funding for their operation, Tribe Student Accommodation is now looking to raise about $10 million for further expansion in the upcoming years to venture into the co-living domain to redefine community living in India.
The Tribe has identified 20 cities including Pune, Mumbai, Hyderabad, Delhi, Bengaluru, Manipal, Jaipur, Chennai, and Indore where it aims to set up luxury accommodation spaces and co-living centres in the next 18 months.
Situated at Baner, a prime location in the west of Pune, Tribe is aiming to attract clientele from major companies, institutes, and customers and envisions interest even from as far as Chakan, Talegaon, and Hinjewadi.
Providing amenities like co-working spaces operating 24x7, cafe, bar, restaurant, room service 24x7, laundry, fitness center, yoga/meditation room, theater, PS room, private party areas, infinity pool, 5-star community areas, valet options, top-end stores and brands within one building, Tribe strives to change the way co-living in India is viewed. The first centre will accommodate close to 250 premium rooms covering 1,20,000 sq ft.
Talking about their new venture, Yogesh Mehra, CEO of Tribe Student Accommodation said in a press statement, “We believe that people grow when they get an environment where their mind is free of age-old archaic beliefs and are allowed to leverage more focus on their profession or passion. We give our customers an experience that brings out the better in them with some of the best amenities that we provide in the country when it comes to accommodation spaces.”
An emerging player in the market, Tribe will aim at playing a bigger hand in driving the co-living market in India, which is expected to double by 2024, according to a report by Colliers Advisory.