Entrepreneurs launch Indian coliving startup COVIE

George Sell George Sell Uploaded 25 August 2020

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India: Real estate entrepreneurs Swapnali Bhosale Kadam and Abhishek Kumar have launched COVIE, described as “a new age co-living startup” with 3,000+ beds in Pune, Bengaluru and Mumbai.

The platform is described as “a custom-designed new age coliving ecosystem which intends to provide collaborative and encouraging environments that bring out the best in people”.

COVIE caters to students, professionals, and senior citizens under the brands Covie Ed, CovieLiv & Covie Plus. During the initial phase, the launch is in Pune, Bangalore, and Mumbai and later the platform intends to expand to Chennai, Coimbatore, Kota, Jaipur, Delhi NCR, and Hyderabad. The startup aims to grow at a fast pace and reach a bed count of 30,000 plus in next three years.

The startup aims at to hit revenue at an industry average of Rs 10,000 per bed in the first year through aggressive acquisition of customers, beds and geographical reach.

Swapnali Bhosale Kadam, co-founder of COVIE said: "The coliving ecosystem in India has been growing at a speedy pace with newer working models coming into the scenario. The concept has brought in opportunities, mostly catering to students, professionals, and senior citizens, thus bringing much growth for this segment. Currently, our focus is on building long-lasting capabilities that are vital in strengthening the co-living system in India.”

Co-founder Abhishek Kumar said: "For the ever-dynamic millennial population, co-living is one of the most preferred means of housing as it provides a safe, secured and convenient choice in a new city. To keep up with the demand and comfort of our customers, we intend to enhance the overall experience by the adoption of innovative tech capabilities so that more and more people seek location independent lives without compromising on their quality of life."

 

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