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India: Bengaluru-based coliving startup Colive has raised US$20 million (INR 176.32 crore) in a Series B round led by Bain Capital, with participation from its existing investor Sattva Group.
The company will use the fresh funding to upgrade its technology infrastructure, expand its market presence, and reinforce its position in tech-enabled rental housing across India.
These improvements are part of a larger joint initiative by Bain Capital and Sattva Group to launch a $100 million pan-India coliving real estate platform, with Colive as its cornerstone manager.
The platform will focus on acquiring land, developing coliving communities, and developing purpose-built rental homes in major urban centres.
The initiative aims to scale its coliving footprint to 50,000 beds over the next three years. Each property under this master plan will average around 300,000 square feet, primarily targeting executive rentals.
As part of the agreement, the platform will be jointly owned by Bain Capital and Sattva Group, with Bain Capital holding the majority stake.
To date, the PropCo-backed platform has secured land in Pune and Bengaluru, with nearly 0.5 million square feet under development. Further expansion plans are underway in Bengaluru, Pune, and Hyderabad, aiming to deliver eight to 10 flagship projects in the near term.
Founded in 2016, Colive provides a network of fully managed ready-to-move-in homes. The firm targets professionals who are single as well as young couples. The platform currently operates across Bengaluru, Chennai, and Hyderabad.
By 18 March, Colive had attracted about US$1.85 million from Ncubate Capital.
For fiscal year 2024, Colive reported about INR 40 crore in Operating Income and about INR 25 crore in Net Loss.
Highlights:
- Colive raises US$20 million Series B to scale co-living platform: Colive has secured funding led by Bain Capital with participation from Sattva Group to expand tech-enabled rental housing across India
- Launch of USD 100 million pan-India co-living platform: The partners plan to develop a nationwide co-living platform, with Colive as the core operating partner, focusing on land acquisition, development, and purpose-built rental communities
• Ambitious growth target of 50,000 beds: The platform aims to scale to 50,000 beds within three years, targeting urban professionals and executive rentals in major cities
• Active development pipeline across key cities: Initial projects are underway in Bengaluru and Pune, with further expansion planned in Hyderabad, delivering 8–10 developments
• Focus on tech, scale, and operational growth: Funding will support technology upgrades, market expansion, and platform scalability, reinforcing Colive’s position in India’s growing co-living and flexible housing sector
