Source: Entrackr
Truliv, a co-living startup based in Chennai, has secured a strategic equity investment from Bennett, Coleman and Company Limited (BCCL), the owner and publisher of The Times of India. This transaction values the startup at ₹356.5 crore.
Truliv was formed in 2019 by Rohit Reddy and Ranjeeth Rathod, as part of DRA Homes, a large real estate group in South India. Before this, Truliv raised $2.1 million (approx. ₹17.5 crore) in seed funding from DRA Homes and a mix of others.
BCCLs latest investment means Truliv will scale to more cities, enhance its technology, and develop new typologies of residential homes including, vacation homes, lifelong living and nature-based living.
Truliv operates on a built-to-suit model that is asset light. This means they do not own property, but manage and design spaces that modern residents want. We can grow quicker and do not have to spend large amounts of money on real estate.
Right now the company operates co-living spaces in Chennai. These living spaces are designed to meet the needs of individuals who are moving to a new city for work or speculation. The customers share accommodations and have access to individual living units. The company reports that it currently has a high percentage of occupancy across their properties, demonstrating a strong demand for living solutions that are flexible.
Truliv has entered the holiday homes segment already, their second line of business. They also plan to launch a student housing product, and in the future, they will target retirement housing and nature-based stays. These living solutions are designed to meet a spectrum of needs regarding age and lifestyle.
The startup’s goal is to provide not just a place to stay, but a better living experience. It aims to blend hospitality services with real estate to offer clean, modern, and community-focused housing.
Truliv has plans for growth in cities such as Bengaluru, Pune, Hyderabad, and Gurgaon. The company also plans to grow in both beds and types of housing solutions.
They plan to earn ₹200 crores of revenue annually in the next three years.
In short, They hope that the BCCL partnership will help Truliv grow its brand and visibility to get more customers through increased media exposure. With this support, they expect to become one of the leaders in India’s rapidly evolving alternative housing market.
