Key takeaways
- Colive offers affordable, fully-furnished accommodation tailored for millennials, addressing the challenges of relocation in urban areas.
- The startup has expanded from 300 to over 15,000 beds, catering primarily to mid-level professionals and digital nomads.
- Colive leverages technology to provide managed living spaces with modern security and maintenance features.
- Initially, the company faced challenges in convincing stakeholders about the viability of co-living arrangements.
- Significant funding from investors has supported Colive's growth and expansion in the co-living sector.
Relocating to a new city comes with its own share of challenges, ranging from adjusting to unfamiliar surroundings to feeling isolated. It’s often challenging for India’s young population to find a fully-furnished and affordable accommodation that provides basic amenities. To address these issues, one such startup, Colive has emerged as an affordable and hassle-free solution, addressing all the challenges modern urban dwellers face.
Founded in 2016, Bangalore-based startup, Colive is a technology-powered network of fully managed ready-to-move-in homes, conveniently located in proximity to major IT parks and business hubs. It offers fully managed branded living spaces equipped with modern tech-enabled security, service and maintenance features.
Analytics India Magazine caught up with Suresh Rangarajan, founder and CEO of Colive to gain insights on how the company is utilising the emerging technologies. Colive started with only 300 beds in Bangalore, and currently, they have an inventory of more than 15,000 beds. In the initial stage, the company faced a hard time convincing stakeholders (property builders and investors) about the significance of co-living. The startup primarily caters to millennials (21-35-year-olds) – mid-level working professional, digital Nomads. It has secured funding from Ncubate Capital Partners in 2018 and Salarpuria Sattva Group earlier this year.
