The fast-growing Indian economy is shooting up the demand for housing in its urban centers. Co-living is emerging as the housing of choice for millions of students and young professionals thronging cities like Mumbai. India’s co-living market is estimated to be growing at a CAGR of 17% and is predicted to hit $ 40 billion in the next five years.
Founder: Bharat Agarwal and Siddharth Agarwal
Founding year: 2019
Headquarters: Mumbai, India
Revenue: $ 6 million (in first 2 years of operation)
Hive Hostels is Mumbai’s leading provider of fully-serviced luxury hostels. Unparalleled tech innovations have set apart Hive Hostels from other service providers in this sector. After perfecting the operations and management of its chain of serviced housing, the company has expanded into providing hostel management solutions and support to Indian universities on a contract basis.
2. Union Living
Founders: Parth Soni and Rishabh Soni
Founding year: 2020
Headquarters: Mumbai, India
Union Living is investing to develop co-living properties as an asset class. Their carefully designed and curated properties leverage technology to offer the best-in-class living experiences and yield higher returns. They use scalable technology solutions to automate everything from property search to operations. Union Living is one of the first movers in the built-to-suit (BTS) sector in India.
3. GetSetHome
Founders: Junaid Shaikh, Shabnam Virani, and Muddassar Virani
Founding year: 2014
Headquarters: Mumbai, India
Valuation: Total funding of $ 1 million
Investors: Mistry Ventures
The GetSetHomes platform offers both single-ownership properties and short-term shared rentals. The PropTech start-up is credited with tech solutions that leverage AI, ML, and big data to address the needs of the rental sector holistically.
4. Tribe Stays
Founders: Yogesh Mehra and Shantam Mehra
Founding year: 2018
Headquarters: Pune, India
Valuation: $ 9.13 million (as of Mar 31, 2023)
Revenue: $ 1.46 million (as of Mar 31, 2023)
Investors: Ebrahim Chiniwala, Nandkishor Mundada, and Shilpi Sethi
Tech-savvy students and working professionals prefer Tribe Stays for its range of exciting hostels and co-living options in Mumbai. Their Tribe app with real-time announcements, secure payment systems, online check-in services, and robust customer support is a must-have for residents. The company is even planning to launch a hybrid hospitality segment soon.
Founders: Abhaydeep Middha and Ravi Shekhar
Founding year: 2021
Headquarters: Mumbai, India
With quality co-living properties, student accommodations, and corporate housing options, Livit is a promising PropTech start-up in Mumbai. Its shared rentals are brought to life by the Livit app which can be used to access the coolest amenities in its properties like gaming rooms and movie screenings.
Founders: Ronnie Screwvala, Mayank Kumar, and Phalgun Kompalli
UpGrad Founding year: 2015
Headquarters: Mumbai, India
Co-living is the latest foray of the Ed-Tech unicorn upGrad. Their PropTech platform, upGrad Living offers co-living and student housing solutions designed for chic urban students. Their properties come fitted with the latest gadgets, ergonomic furniture, climate control systems, and soundproofing to name a few. Everything, including the upGrad Living app, is customized to the student lifestyle.
7. Cozy Dorms
Founder: Anil Kapoor
Founding year: 2015
Headquarters: Navi Mumbai, India
The Cozy Dorms platform offers the best co-living experiences to students, professionals, backpackers, and singles in Mumbai. Their tenant management system facilitates online bookings and rent payments seamlessly. Property owners can also hire the Cozy Dorms’ tenant management system.
8. your-space
Founders: Nidhi Kumra, Shubha Lal, and Venayak Saran Gupta
Founding year: 2016
Headquarters: Delhi, India
Valuation: Total funding of $ 10 million
Revenue: $ 200K
Investors: Shantanu Rastogi (General Atlantic), AJAX Capital, Holy Basil Consultancy, and others
your-space is an emerging favorite among students looking for affordable rental solutions near university campuses. Using an integrated technology platform that is scalable and user-friendly, the PropTech enterprise manages 100+ centers and hosts a growing user community of 10K+ students.
9. Zolo Stays
Founders: Dr Nikhil Sikri, Akhil Sikri, and Sneha Choudhry
Founding year: 2015
Headquarters: Bengaluru, India
Valuation: Total funds of $ 98 million (2017 – 2020)
Revenue: $ 36 million (2023)
Investors: Investcorp, Trifecta Capital Advisors, and Nexus Venture Partners
Millions of students and working professionals in Mumbai prefer Zolo Stays for its intuitive interface and secure systems. Zolo rental and co-living properties are efficiently managed and come with smart amenities and services. Zolo residents get exclusive access to its close-knit community through dedicated social networks and special rewards and offers as well.
10. Stanza Living
Founders: Anindya Dutta and Sandeep Dalmia
Founding year: 2017
Headquarters: Delhi, India
Valuation: $ 430 million
Revenue: $ 53 million (estimated in 2023)Investors: Alpha Wave (formerly Falcon Edge), Equity International, Sequoia India, Matrix, Accel Partners, Alteria Capital, Kotak Mahindra, and RBL Bank
Stanza Living has transformed India’s real estate industry with its powerful technology solutions geared to meet human needs. The company is one of the largest co-living ventures in India. The company transforms leased properties into furnished co-living hubs equipped with smart amenities like AI-powered security systems.
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By Proptechbuzz
By Ravi Kumar
