Colive, India’s top co-living platform and Bangalore’s largest, has raised $20 million (Rs 176.32 Cr) in a Series B funding round led by Bain Capital.
The round also included existing investor Sattva Group.
The company plans to use the new funds to upgrade its technology and expand its presence in the market.
Before this round, Colive had raised more than $12 million. Its main competitors are Truliv, Stanza Living, Zolo Stays, and NestAway.
Colive was founded in 2016 by Suresh Rangarajan. It is a tech-driven rental platform that offers branded, serviced, ready-to-move-in homes, mainly for single professionals and young couples.
The company is strong in Bengaluru and also operates in selected areas of Hyderabad, Pune, and Chennai.
Along with the new funding, Colive announced a partnership with Bain Capital and Sattva Group to build a pan-India co-living platform, backed by an initial $100 million commitment.
The platform will acquire land and build fully-furnished, smart, professionally managed homes near major workplaces and educational hubs. It will focus on Gen Z and millennial professionals and students.
“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. Our investment commitment demonstrates our unwavering confidence in this market category and Colive’s established leadership position,” said Sarit Chopra, Partner at Bain Capital.
Colive has already acquired land in Pune and Bengaluru, with around 0.5 million sq ft of co-living space under development. The company is also exploring more sites in Bengaluru, Pune, and Hyderabad, and plans to launch 8–10 flagship projects in the near future.
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