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Gravity Co Raises GBP5m to Expand its Portfolio Internationally

·3 min read

London, United Kingdom--(Newsfile Corp. - September 8, 2022) - Gravity Co, the UK based co-living & PRS brand sets its sights firmly on mainland Europe in 2023 focused on community, flexibility, wellbeing, and professional growth. Gravity announces it has raised GBP5m to further support its international expansion plans for 2023, taking the Gravity living experience to mainland Europe and increasing its diverse range of flexible homes available to its members.

Gravity Co Living

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The raise was finalised amid a big announcement in the sector, with Adam Neumann closing a $350m round for his new venture, Flow, at a $1bn post-money valuation from Andreessen Horowitz. Being the largest ever individual check ever written by a16z, not only is this a strong signal for VC & PE funds active in the real estate sector but it will also likely boost the interest of more generic investors to back companies disrupting the residential / living real estate market globally.

Following a successful 2021, Gravity's achievements have continued well into 2022 with the launch of its fifth property in another of the country's primary tech hubs, Reading. Referred to as the UK's very own Silicon Valley, the town has well and truly embraced Gravity with full occupancy achieved in less than 8 weeks.

With its community-led living experience continuing to increase in popularity as more and more prospective tenants join Gravity's waiting list, as well as an expanding UK pipeline project strategy currently in motion to help fulfil demand, the brand also has its sights firmly fixed on the international market.

Working on several projects with strategic real estate partners in Paris, Barcelona and Milan (to name a few) Gravity will continue to develop a network of community-led, residential (co-living and PRS) spaces in major business and tech hubs around the world, with the objective of getting to 1,000 operational beds by the end of 2023.

To further support this international growth and create a thriving, global community, Gravity is working towards launching the first social membership programme for non-residents. Social members will benefit from all the great perks offered to live-in members including access to events, discounts, the community via the mobile app, plus access to various shared communal spaces and discounts on units on a short term let basis around the world.

Riccardo Tessaro, Co-Founder and CEO 'It's truly an exciting time for Gravity. We've had a great run in the UK over the past few years, even during extremely challenging times and are ready to take our brand international. Not only have we grown in terms of our portfolio, but also in terms of people, making some key hires in the UK, France, Spain, and Italy, who will collectively focus on our acquisition strategy, launching our brand in some new and exciting locations.'

Susanna Rock, Co-Founder and CIO continues 'With properties already earmarked for our international pipeline, we have already turned our thoughts to our series B fundraising round where we plan to bring in private equity firms and VCs who we are confident have grown their interest for the asset class.'

For more information, please go to www.gravitycoliving.com

PR Contact- Craig McCormack - Marketing Manager
Email: cm@gravitycoliving.com - T: +447515 339221

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/136254