Chennai-based Co-living Startup Truliv Raises $1.5M in Pre-Seed Round, Breaks New Ground in the Industry

Chennai-based Co-living and Holiday Homes startup Truliv has successfully raised $1.5 million in a pre-seed round from investors including Conquest Global Ventures VCC and Vara Future LLP.

This funding marks the first seed round for a Coliving startup in Chennai. Truliv plans to utilise the funds to expand its Co-living and Holiday Homes business verticals.

According to Rohit Reddy, Co-founder of Truliv, the company plans to utilise the funds raised 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,” Reddy said, elaborating on the plans of the company.

“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.”

Ranjeeth Rathod, Co-founder of Truliv, expressed gratitude to their investors for their strong belief in the company's growth potential.

“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,” he said.


“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.”

According to a report by Colliers International, the Co-living industry in India has seen significant growth with over 50 operators in the market. These operators are achieving expected yields between 7 to 9% and offer around 210,000 beds in the organized space.

The monthly rental ranges from Rs. 8,000 to 14,000. The market value of organized players in the Co-living industry is estimated to be around Rs25,000 crores, and the sector has attracted PE investments of over USD 900 million.


The demand for Co-living is driven by various factors, including workforce trends, the need to address gaps in the unorganised sector, urban migration, and the increasing student population.

Organised Co-living is mainly concentrated in metro and tier 1 cities, but expansion is now being witnessed in Tier II cities as well. The report also highlights that during Q4 of 2021, the occupancy rate for the 210,000 beds stood at 70%.

Incorporated in 2019, Truliv is a subsidiary of DRA created for the purpose of redefining alternate real estate class. Truliv provides housing and community solutions for all demographic populations of India right from millennials to retired people.

The COVID pandemic disrupted lives and forced people to make alternative plans for their housing driven more by an urge to stay within proximity of their workplaces. Post-pandemic, shared housing models like Coliving have seen increased demand and acceptance, especially from the millennials. - TWL Bureau