Chennai-based co-living startup Truliv has drawn up ambitious expansion plans. The company aims to add 3,500 more beds in the co-living space during 2024-2025. According to a company communique, Truliv has surpassed its profitability target for the fiscal year, FY24.
As part of its expansion strategy, Truliv plans to enter the Hyderabad, Telangana, and Pune, Maharashtra markets within the next nine months, with further expansion into Bengaluru by July 2025. Currently, Truliv operates around 3,000 beds in Chennai across 22 properties, with an additional 500 beds and three properties in the pipeline.
In June 2023, the startup secured USD 1.5 million in pre-seed funding led by Conquest Global Ventures, Vara Future, and other investors. Truliv has commenced a roadshow for Series-A funding, aiming to raise four to five million dollars for future expansion.
The co-living sector in Chennai is experiencing growth, driven by the needs of young professionals and students seeking cost-effective housing solutions near large urban centres. Working professionals, including those in IT, ITES, professional services, and banking, account for 90 percent of their residents. Truliv’s total operational space in Chennai is approximately eight lakh sq. ft., with an additional 75,000 sq. ft. in the pipeline.
