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Business Economy


COVIE, co-living startup launches 3000+ beds in Pune, Bengaluru, Mumbai

(Rptg. omitting garble in headline)
Bengaluru, Aug 24 (UNI) COVIE, a new age co-living startup launched more than 3000 beds in Pune, Bengaluru and Mumbai, a statement said here on Monday.
According to the statement, the platform is a custom-designed new age co-living ecosystem which intends to provide collaborative and encouraging environments that bring out the best in people. The startup aims at clocking revenue at an industry average of Rs 10,000 per bed in the first year through aggressive acquisition of customers, beds and geographical reach.
COVIE is the perfect platform to have come out with an opportunity to promote a modern form of living where the inhabitants share a similar set of wellbeing, values, and interests. The co-living space is a thoughtfully designed private dwelling matching the modernity at the same time meeting the basic requirements of residents driven by the sharing economy and socio-demographic changes etc.
Talking about the new venture, Swapnali Bhosale Kadam, Co-Founder, COVIE said "The co-living 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 ecosystem in India. We expect to set benchmarks by creating premium spaces and render services by a co-living operator to ensure 100 per cent customer satisfaction".
Co-Founder, COVIE 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."
COVIE is the only player currently in India catering to all the three segments together namely students, professionals, and senior citizens under the brands Covie Ed, CovieLiv & Covie Plus. During the initial phase of launch in Pune, Bangalore, and Mumbai and later the platform intends to expand to newer markets like Chennai, Coimbatore, Kota, Jaipur, Delhi NCR, Hyderabad, etc. COVIE aims to grow at a much faster pace and reach a bed count of 30,000 plus in next three years.
UNI BSP JTS 1835/2028
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