Tribe, a company offering student hostels, has opened Tribe Stays in Wakad, Pune. Students aged 18 to 22 will be allowed to stay in the hostel, which will have 210 rooms.
The company will now have three properties in Maharashtra.
It recently entered the co-living segment and raised $1.5 million in private equity and structured debt.
“We have raised multiple rounds of funding for our operation and are looking to raise about $10 million for further expansion,” said Shantam Mehra, co-founder of the company.
In the upcoming years, Tribe plans to set up hostels and provide more than 20,000 beds for the student community in 20 more Indian towns with educational institutions, including Delhi, Bengaluru, Dehradun, Chennai, and Vellore.