Bengaluru-based coliving startup Colive has raised $20 Mn (INR 176.32 Cr) in a Series B funding round led by Bain Capital, with participation from existing investor Sattva Group.
The company said the funds will be used to strengthen its technology infrastructure and broaden its market reach.
Founded in 2016 by Suresh Rangarajan, Colive operates as a technology-driven rental accommodation provider. Its offerings include serviced, ready-to-move-in homes primarily designed for single professionals and young couples.
Although Bengaluru remains its largest market, Colive has also expanded to Hyderabad, Pune, and Chennai. The startup has previously raised more than $12 Mn and competes with Truliv, Stanza Living, Zolo Stays, and NestAway.
Alongside the funding, Colive announced a partnership with Bain Capital and Sattva Group to create a pan-India coliving platform. The partners have committed at least $100 Mn for the initiative.
The platform will focus on land acquisition, housing development, and delivery of fully furnished, managed residences near major business districts and educational hubs. Initial projects are underway in Pune and Bengaluru, with about 0.5 Mn sq ft of coliving space under development. Additional land parcels in Bengaluru, Pune, and Hyderabad are being considered.
Colive plans to launch 8–10 flagship developments in the near term through this new venture.
Demand for coliving spaces has been increasing in India due to urbanisation and shifting housing preferences of younger professionals and students. Earlier this year, Bennett, Coleman & Co. Ltd invested in Truliv at a valuation of INR 356.50 Cr, reflecting the sector’s momentum.
According to Colliers India, the market for coliving is projected to expand fivefold from INR 4,000 Cr ($465 Mn) in 2025 to nearly INR 20,000 Cr ($2.33 Bn) by 2030.
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By Ravi Kumar