Danish proptech startup LifeX, currently running co-living sites in six European cities, has announced a new funding round of €6 million. The investment was organised through Founders, a Copenhagen-based startup studio, together with Cherry Ventures, a Berlin-based VC fund. Supplementary funds were also sourced through Væksttfonden.
The fresh capital will help strengthen LifeX’s presence in existing and new markets, fuel product development, and accelerate the company’s vision to “make anyone feel at home, anywhere in the world”.
Founded in 2017 by Sune Theodorsen and Ritu Jain, the Danish startup says it helps young nomadic professionals overcome the challenges of finding housing and growing a social network in a new city. The company attempts this through a ‘family-style approach’ to co-living, with shared living spaces decked with designer furniture, where residents have no responsibility for standard adult living such as chores, house maintenance and bills.
CEO Theodorsen commented: “Co-living is not just a trend, it is here to stay and will continue to grow. With the way we work shifting to a more remote model, the time and care we spend curating our living spaces and community has become a great asset for us as well as increasingly attractive for our members.”
Members of the community hail from 50 countries. The six cities in current operation are Copenhagen, Berlin, Munich, Vienna, Paris and London. After a substantial seed round last year, LifeX has now received close to €15 million of funding overall and hopes to raise a Series A round in the near future.
Photo: Co-founders Ritu Jain and Sune Theodorsen