[Funding alert] Truliv Secures $1.5 Mn from Conquest Global Ventures VCC, Vara Future LLP, and Others

Truliv, a Chennai-based Co-living, and Holiday Homes startup, successfully raised a pre-seed round of $1.5 million Growth fund from various investors led by Conquest Global Ventures VCC, Vara Future LLP, and others at a post-money valuation of Rs. 60.0 Crs. This is the first Chennai-based Coliving startup to raise a seed round.

Coliving is an alternate real estate offering that offers high-quality, well-located shared rental accommodation. This is driven by Millennials who want convenience & ease of living. Coliving is convenient as it provides a desirable house at affordable costs and a much-needed community living experience.

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Speaking on this occasion, Mr. Rohit Reddy Co-founder, Truliv said, “Truliv intends to utilize these funds for the growth of its Co-living, and Holiday Homes business verticals. The company targets to reach 7000 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. Our scale-up plan for Coliving and Holiday Homes is backed by the demand we see in this space. Coliving has immense potential since it is flexible, convenient, and social. Truliv will en vigor to be at the forefront of India’s growth story by providing alternative and convenient solutions for the future.”

As corporate India moves to a hybrid work style, the young workforce will always seek options and better living spaces that allow WFH to run smoothly. Coliving demand is set to grow 10x within the next decade and is expected to double by 2024 from current levels as per the latest Colliers reference. The Coliving model is set to solve the affordable housing problems at least for the young workforce who can find plug & play accommodation.

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Mr. Ranjeeth Rathod, Co-founder, Truliv said, “We’re grateful to our investors for believing in our growth potential as firmly as we do. This funding will take us one step closer to our long-term goal of expanding pan India and becoming one of the market leaders in the Co-living space. The Demand for shared living spaces is expected to rise significantly over the next few years. Our aim is to provide quality and convenience of living at an affordable cost.” Truliv is the only operator in the country to promote Built to Suit Coliving spaces that are of the highest standards.

About Co-living

Co-living is a professionally managed process-oriented organization operating in the Co-living spectrum with a collective experience of over half a century. Co-living offers an unbeatable combination of comfort, convenience, and affordability, thereby enhancing the living experience for customers between the ages of 18 to 35. Currently in Chennai, Co-living is seeking to grow Pan India as part of its horizontal growth expansion plans. With Demand for shared living spaces expected to rise significantly over the next few years, Co-living is poised to offer Quality & convenience of living at affordable cost throughout India.

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About Truliv Holiday Homes

Truliv Holiday Homes offer the perfect getaway for small families & groups. Situated by the beaches of ECR, these homes offer Unending greenery and spectacular panoramas in private, with comforts to rival the best-star Hotels.

The Villas offer all the comforts of home in a serene and picturesque setting enhancing guest experience by offering customization options to meet individual preferences