Indian Co-Living Startup Truliv Raises $1.5M in Pre-Seed Funding

Chennai-based co-living and holiday homes startup Truliv has raised a pre-seed round of INR 12 crore ($1.5M) from investors including Conquest Global Ventures VCC and Vara Future LLP at an approximate valuation of INR 60 crore ($7.3M).

Truliv will use the funds to bolster its co-living stock in Chennai to 7000 units and its holiday homes to 36 units, both by 2025, according to co-founder Rohit Reddy.

The startup will also explore partnership opportunities with corporate clients.

Truliv's co-living experience includes habitations with amenities ranging from swimming pools, gyms and yoga; fully maintained residential spaces, and 24/7 recreational spaces. Features include secure CCTV, wifi, parking and housekeeping as standard. Costs range from INR 8000-14000 ($97-$170) per month depending on location and amenities.

Truliv is by no means the first or only co-living space provider in India; approximately 100 companies offer co-living accommodation across the country, including Zolo and Nestaway (which was acquired for $11M by Aurum at a discount price following disappointing revenues).

Meanwhile, Truliv's holiday homes marketplace is set to "launch shortly" as per messaging on its website. According to research by real estate intelligence firm Realtor360, the size of the vacation & second home market in India was $1.4M in 2021—growing at a CAGR of 23.6%.

Truliv was founded in 2017 by Reddy and Ranjeeth Rathod. The company is backed by and is a subsidiary of real estate company DRA, an infrastructural keystone of India's home construction industry that has been operating for almost 40 years.