Nicolas Legay and Aurélien Dobbels, co-founders of Cocoonut;
Credit: © Kaori Anne Jolliffe / Silicon Luxembourg
Luxembourg coliving startup Cocoonut has announced a first round of €110,000 to expand in the Grand Duchy and the Greater Region.
This round of financing, with Business Angels specialised in real estate, is backed with €15 million to develop the startup's real estate portfolio. This capital will enable the young company to anchor its positioning in Luxembourg and accelerate its development abroad.
Like coworking a few years ago, coliving is developing exponentially worldwide. It is a new facet of residential real estate, offering small private spaces complemented by larger common areas and a range of services comparable to hotels.
Created at the beginning of 2020, Cocoonut has already announced a first round of €110,000 dedicated to its technological and commercial development, to which these same Business Angels commit to invest around €15 million for the transformation of its first three buildings.
In an interview with Silicon Luxembourg, Aurélien Dobbels, one of the two co-founders of Cocoonut, said: “More than the financial aspect, this first round of financing allows us to gain credibility and take advantage of the entire network and knowledge of our partners. Getting the land is the real challenge in the Grand Duchy and we are delighted to have them on our side now”.
A finalist in the Fit 4 Start competition, the startup has a strong local presence but its ambition is clearly European. Cocoonut is already working on projects in France and Belgium.
Nicolas Legay, the second co-founder, commented: “Having managed to bring this team together allows us to accelerate. With skills in finance, real estate and technology, we were naturally approached and consulted to work on large-scale projects of more than 3,000m2, in Luxembourg and the Greater Region! Working on larger projects allows us to perfectly integrate coliving with urbanisation issues”.
Cocoonut positions itself as an element of response to the difficulties encountered by newcomers to Luxembourg. Its offer is flexible and compliant with local legislation and constraints.
This information has been adapted from an article that first appeared in Silicon Luxembourg.
