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Co-living startup Colive raises $20 million funding led by Bain Capital
Colive, a Bangalore-based co-living startup, has partnered with Bain Capital and Sattva Group to establish a pan-India co-living real estate platform of $100 million. As a part of this strategic partnership, Colive has raised $20 million funding spearheaded by Bain capital. In the round, long-term partner Sattva Group also participated, according to an official statement.
The $20 million funds raised will cater to Colive's vision of being the 'Future of Living' and will be used to power its accelerated growth trajectory through enhanced technology infrastructure, expanded market presence, and reinforced market leadership in tech-enabled rental housing solutions across India.
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"India is experiencing a fundamental transformation in urban housing preferences, and Colive stands uniquely positioned to address this surging demand through technology-enabled, community-focused living solutions," said Sarit Chopra, partner at Bain Capital.
The new platform is said to be dedicated to acquiring land, developing flagship communities, and delivering purpose-built rental housing across India’s largest urban centers, meeting the growing demand from young professionals and students for high-quality, community-driven living spaces.
Founded in 2016 by Suresh Rangarajan, Colive offers smart, furnished & managed flexible homes closer to workplaces & colleges to the urban migrant population.
"This funding represents a pivotal moment in Colive's journey to revolutionize urban living for young professionals throughout India. It signifies strong investor confidence in our vision...," Suresh Rangarajan, founder & CEO of Colive, added.
Founded on the transformative mission of becoming "Your Family, Away from Family," Colive claims to reshape urban living through its 6S guiding principles of style, safety, smart, service, savings, and social, and provides a superior living experience.
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