Co-living startup CoHo plans to raise up to Rs 100 cr to expand its presence in India
CoHo, a co-living startup, is planning to raise Rs 70-100 crore for expanding its presence in India. The company is eyeing at reaching one lakh beds by the year 2022.
Starting its operations in 2015, CoHo currently has about 3,500 beds mainly in Delhi-NCR and Bengaluru, and another 10,000 beds would be launched soon.
Uday Lakkar, Founder and CEO, CoHo, said, “We are actively looking to raise capitals from strategic players and pure-play financial institutions for funding our expansion plan. We are targeting to reach one lakh beds over the next three years.”
CoHo will launch co-living facilities in four metros, including Bengaluru, Chennai, Hyderabad, Pune, and other major urban cities.
“Rapid growth will be driven by a combination of leasing and franchising models. CoHo’s growth will be accelerated through partnerships with real estate developers and fund houses which are looking to build a portfolio in this space, wherein CoHo acts as an operator which best optimizes the asset monetisation,” Lakkar added.