Colive raises Rs 63 cr in latest round of funding

Co-living space provider Colive has raised Rs 63 crore in a fresh round of funding led by Bengaluru-based realty firm Salarpuria Sattva group.

Colive India, founded in 2016, had earlier raised Rs 17 crore in pre-series A funding.

In a statement, the company said it has partnered with Salarpuria Sattva group in USD 9.2 million Series A funding.

The funds would be used to scale up its operations from 12,000 beds to 1 lakh beds over the next two years.

"We believe co-living is going to be next big wave in India which will alter the real estate landscape in tier I cities specifically IT hubs," Salarpuria Sattva MD Bijay Agarwal said.