With plans for company expansion and growth, home-services startup, CoLive has raised $1.8 million in its recent round of funding.

CoLive is a co-living startup which provides homes located in convenient areas for its consumer base, with residences close to working areas and educational regions of the city.

Founded in 2016 By Sundari Rangarajan and Suresh Rangarajan, formerly a founder of Artha Group among other accomplishments, CoLive is based in Bengaluru.

Funds from the recent investment round will be put toward expansion, company and job growth as well as toward developments in products and services, the startup said in a statement. According to the company, CoLive has 75 properties in its home-base with a presence in Vellore and Coimbatore as well.

Rakesh Malhotra, Managing Partner at CoLive, said in the statement that the recent funds would be put toward company growth at an exponential level, which will be seen in the next few years.

The $1.8 million investment round was led by Gurugram-based venture capital firm Ncubate Capital Partners. In the past, the co-living startup has seen an investment from Sachin Khimji Nuvo Investors and Realtors Pvt. Ltd. worth $1 million.

CoLive, which owns CoWork247, a shared office-space company, plans to reach the goal of 10,000 beds over the course of the next few quarters, Suresh Rangarajan said in the statement. The startup also plans to expand its operations into Trichy, Thanjavur, Madurai and Amaravati.

(Picture courtesy: https://www.colive.in/)