Coliving startup Tribe Stays bags $2.8 Mn to scale its portfolio, with plans to expand its managed accommodation offerings across India. The startup's seed funding round was co-led by Artha Venture Fund and Riverwalk Holdings, with participation from Kunal Khanna and other family offices. With a focus on student and young professional accommodation, Tribe Stays aims to tap into India's unorganized student accommodation and hostel space, providing better quality long-stay experiences. The startup currently has 650 beds in Pune and plans to add another 1,000 in the ongoing fiscal year, with a long-term goal of 25,000 beds across cities like Hyderabad, Bengaluru, Mumbai, Gurugram, and Pune. This expansion comes as the student and young professional accommodation space sees strong growth, with India's affordable coliving space projected to reach $2.3 Bn by 2030. Investors are actively backing startups in this segment, with recent funding rounds by HooLiv and Colive, as well as Stanza Living's planned raise. However, the industry also sees exits, with Zolo selling its student accommodation business to focus on other growth opportunities.
