Co-living Sector

Co-living operator Settl. on Wednesday said it will double its capacity to 4,000 beds by June next year across Delhi-NCR, Bengaluru and Hyderabad as it is witnessing higher demand from working professionals. The company said the co-living segment has started to recover from the disruptions caused by the pandemic. Settl. said it also plans to raise further funds to expand and grow the business and has started a preliminary round of discussions with potential investors. "We are witnessing a surge in demand for managed rented homes from working professionals. Most of these employees are working on a hybrid model and they need quality space for living and work purposes," Settl. Co-founder Abhishek Tripathi said in a statement. Started in 2020, the company has 2,000 beds across 40 properties in the three cities and it aims to touch 4,000 beds by June next year. The company plans to add at least 1,000 beds in the National Capital Region (NCR) alone. "We take properties from builders an

Co-living operator Hyphen on Thursday said it has raised USD 1 million (around Rs 8 crore) from investors to expand business

The round also saw participation from BlackSoil Capital along with marquee angels from Faad Network. Other notable angel investors are Shashwat Nakrani (Co-founder, BharatPe), Jasminder Singh Gulati (Co-founder, Nowfloats, acquired by Jio), Ajay Yadav (Founder, Roomi), Sarath Sura (Ex-Director, Allahabad Bank), Abdul Paravengal (ex-CBO, Shipper), Rahul Jindal (Director, Google), Uday Arya (Partner, BlueLotus Ventures), Panna Lal Bhansali (ex-President, Guwahati Stock Exchange), Kushal Khandwala (Director, KIFS Housing Finance Ltd.), Tushar Anand (Alkem Pharma Family & Founder, Cheferd Foods) and others. The company's legal counsel Abhay Vohra (Partner, Burgeon Law), CA Anirudh Bagai (Founder, Lawyer2CA) also joined the round.Headquartered in Gurugram, Crib is building India's first digital ecosystem aimed at redefining how landlords operate, tenants stay and market sells. Through their SaaS-based marketplace model, Crib is creating a full stack solution for co-living including ..

Nexus Venture Partners-backed Zolostays is also coming up with custom-made properties for corporates

The start-up will deploy the new funds to invest in technology, locking in more inventory and strengthening AI-driven operating platforms

The funding round brings Zolo to $90 million raised in all

Firms are waiving the rent of those who have lost their jobs during the pandemic

Some also rent out their premises to IT firms' employees

The firm is internally assessing the possibility of partnering with aggregators or entering the market on its own

Brookfield owns over 25 million sq ft of commercial property in Mumbai and other cities. It also bought Hotel Leela's assets last year for Rs 3,950 crore

Priced at Rs 10,000-20,000 per bed, Olive's first phase will see the launch of 20,000 beds in all - 15,000s in Bengaluru and 2,500 each in Chennai and Pune

Housing.com, which is also backed by Softbank, Accel and SAIF Partners, has tied up with OYO Life and Zolo to promote their co-living spaces on its platform.

Zolostays co-founder is using his background in human behavioural sciences to cater to the living needs of students, young professionals

"They are also getting into warehousing, including for food, data, commodities etc. Warehousing is a big business now," Parekh also added

The undersupply of student accommodation, coupled with the market size, are a huge draw for developers and start-ups to invest in the space