Hyphen, a co-living operator, has raised $1 million (approximately Rs 8 crore) in a pre-seed funding round.

The funding round, which is a combination of equity and minority debt, also saw participation from notable angels from Silicon Valley and Sriram Puthucode, former VP at Symantec Global.

As per the startup, the freshly raised funds will be used to expand into new markets, launch new products, and integrate technology and automation.

Hyphen | Experiential Living Provider 

Founded by Anirudh Rao, Grishma Reddy, Rishi Sreedharan, and Samarth Gowda in June 2021, Hyphen is an experiential living provider of design-centered, serviced-home experiences to working professionals, students & seniors.

Speaking about the development, Rishi Sreedharan, Co-Founder & CEO of Hyphen, said,

“At Hyphen, we are redefining living through an experience-first lens. Running at a 100% occupancy rate reaffirms our thesis that a consumer-first, differentiated living product is poised perfectly for today’s market. The capital will help us take Hyphen to competitive geographies and double down on hiring a 10x team. At the same time, the community is at the center of what we do, and our investment in our underlying technology stack will allow for a seamless residential experience.”

Formerly called Dwellingo, Hyphen launched its first property in August 2021. It plans to have 6,000 beds and expand into five markets, starting with Hyderabad, Pune, Chennai, and Delhi-NCR, by 2023.

Rishi Sreedharan added,

“People are drawn towards experience-focused, de-densified living; the pandemic helped accelerate this push. In fact, 76 percent of consumers are more likely to spend on experiences than materialistic things. As people move back into the city, they are looking for something different, and the run-of-the-mill shared-living experience will no longer cut it.”

As per real estate services firm Jones Lang LaSalle, the co-living market in India is expected to hit Rs 1 trillion in the next five years.

Need legal assistance for your startup? Just contact us.

Follow us and connect with us on Instagram, Facebook, Twitter and LinkedIn.