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Coliving Startup Truliv Gets Strategic Investment From The Times Group
- Chennai-based coliving startup Truliv receives a strategic equity investment from Bennett, Coleman & Co. Ltd (BCCL) at a valuation of INR 356.50 Cr.
- The financial terms of the deal were not disclosed.
- Truliv plans to use the investment to expand into new cities, enhance its tech platform, and enter segments like holiday homes and retirement living.
- The startup aims for an annual revenue of INR 200 Cr in the next three years.
- BCCL, also known as The Times Group, is a Mumbai-based media conglomerate with major brands like The Times of India and The Economic Times.
- Truliv reported a revenue of INR 15.55 Cr and a net loss of INR 3.4 Cr as per the financials for the year ended March 31, 2024.
- The strategic investment from BCCL will help Truliv expand its presence and enhance technology solutions according to cofounder Ranjeeth Rathod.
- Founded in 2019, Truliv offers coliving spaces, raised $2 Mn in seed funding, and plans to expand to cities like Bengaluru, Pune, and Hyderabad.
- Truliv competes with other coliving startups like Stanza Living, Colive, Zolo Stays, and NestAway.
- Investors are interested in coliving startups due to their growth potential driven by changing lifestyle preferences.
- Coliving investments are seen to offer higher returns than traditional real estate with increased occupancy rates and scalable models.
- In a report by Colliers India, the coliving sector is expected to grow 5X from INR 4,000 Cr in 2025 to nearly INR 20,000 Cr in 2030.
- Investors are showing interest in the coliving sector, with companies like Stanza Living also raising significant funds.
- Truliv aims for significant growth with the strategic investment from BCCL.
- The coliving sector in India is attracting attention due to its potential for high returns and rapid expansion.
- The news was reported on Inc42 Media.
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