Co-living startup Truliv raises $1.5 million, Real Estate News, ET RealEstate

June 23, 2023

CHENNAI: Co-living and holiday homes startup Truliv has raised a pre-seed round of $1.5 million (around Rs 12 crore) from various investors led by Conquest Global Ventures VCC, Vara Future LLP and others at a post-money valuation of around Rs 60 crore.

Co-living refers to a segment of real estate where high-quality and well-located properties are offered as shared rental accommodation.

This is driven by millennials who want comfort and ease of living. The model is fast growing as a way to solve the affordable housing problems for young urban workforce who prefer plug & play accommodation.

Launched in 2019, Truliv provides housing and community solutions for all demographic populations of India right from millennials to retired people.

In the home stays segment, Truliv Holiday Homes offers homes for small families and groups by the beaches off the ECR (East Coast Road) in Chennai. It is currently also exploring alliances with corporate clients to provide accommodations for business travellers and corporate retreats.

“Truliv intends to utilize these funds for the growth of its co-living, and Holiday Homes business verticals. The company targets to reach 7,000 Coliving beds in Chennai by 2025, which is a 3X increase from its current capacity, and to 36 holiday homes across Tamil Nadu by 2025 which is a 5X increase from its current capacity,” Rohit Reddy, co-founder, Truliv, said.

  • Published On Jun 21, 2023 at 05:00 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETRealty App

  • Get Realtime updates
  • Save your favourite articles

Scan to download App

Source link

Abhay Singh

Web Developer

Leave a Comment