![\"Tribe](\"https:\/\/inc42.com\/wp-content\/themes\/inc42\/img\/datalab-crosslink\/hover-datalab-logo.svg\"){kind=logo}
(hostels), Tribe Commune (coliving), and Tribe Suites (executive apartments).\u00a0<\/p>\n\t\t\t\t\t\tSUMMARY<\/p>\n
Tribe Stays\u2019 seed funding round was co-led by co-led by Artha Venture Fund and Riverwalk Holdings<\/p>\n
The startup plans to use the capital to scale its three managed accommodation sub-brands \u2013 Tribe Student Accommodation, Tribe Commune, and Tribe Suites <\/p>\n
Tribe Stays currently has 650 beds in Pune and plans to add another 1,000 in the ongoing fiscal year<\/p>\n
Coliving startup Tribe Stays has raised $2.8 Mn (about INR 24.8 Cr) in its seed round co-led by Artha Venture Fund and Riverwalk Holdings. The round also saw participation from Kunal Khanna, founder and CEO of Vivaldis, and other family offices.\u00a0<\/p>\n
In a statement, Tribe Stays said it will use the capital to scale its three managed accommodation sub-brands \u2013 Tribe Student Accommodation (hostels), Tribe Commune (coliving), and Tribe Suites (executive apartments).\u00a0<\/p>\n
As part of its long-term expansion plan, the startup plans to increase its total bed count to 25,000 across cities such as Hyderabad, Bengaluru, Mumbai, Gurugram, and Pune.\u00a0<\/p>\n
Founded in 2018 by Yogesh Mehra, Shantam Mehra and Aman Mehra, Tribe Stays currently has 650 beds in Pune and plans to add another 1,000 in the ongoing fiscal year.\u00a0<\/p>\n
The startup is trying to tap into India\u2019s unorganised student accommodation and hostel space by providing better quality long-stay experiences. Tribe Stays targets guests looking for up to 1 year accommodation. It is looking to cash in on the growing demand for managed accommodation from students, corporates, and professionals.\u00a0<\/p>\n
Tribe Stays competes with the likes of Your-Space, HooLiv, Colive, among others, in the managed coliving and hostel space in the country.\u00a0<\/p>\n
After the crash in demand during the Covid-19 pandemic, the student and young professional accommodation space is seeing strong growth now. According to a recent report, India\u2019s affordable coliving space is projected to reach the $2.3 Bn mark by 2030<\/a>.\u00a0<\/p>\n Investors are actively backing startups operating in the segment to capitalise on this opportunity. Last month, Inc42 reported that Stanza Living is planning to raise $32 Mn in a fresh round<\/a> from Motilal Oswal and Accel. HooLiv<\/a> and Colive<\/a> also raised $2.7 Mn and $20 Mn, respectively, in the past few months.<\/p>\n