SUMMARY
- Homversity raised $1M in a pre-Series A round, led by multiple prominent investors.
- Funds will scale student housing, expand user base, and enhance services across India.
- India’s 35M annual students create a ₹58,000 crore potential in the student housing sector.
The student housing networks platform Homversity has raised $1 million from investors including Shuru-Up, IPV (Inflection Point Ventures), Value Angels, Vinners Group, TAS, Pro-Growth Ventures, Growth 91, and others in a pre-Series A round.
According to a statement from Homversity, the fresh funding will be used to build a high-end, scalable student housing operator model, fund expansion plans to broaden the platform’s user base, and develop its services for students all throughout India.
Homversity is a Ahmedabad-based student housing network that was established in 2019 by Saurav Kumar Sinha and organizes various verticals of the Indian student housing sector. With hassle-free procedures and support systems like a 100% return on cancellations, the platform focuses on organizing the industry’s main verticals, including good cuisine, a safe and secure environment for students, and a high-quality stay.
By offering a good standard of living and nutritious meals, the form removes the burden of food and living expenses for both urban and rural students. It guarantees that students may concentrate on learning, networking, and personal development without having to worry about these fundamentals.
According to the business, its strengths are its profound understanding of the difficulties faced by both landlords and tenants as well as its large, comprehensive database. By providing specialized solutions that improve the user experience for all users, the platform is able to address major issues in the student housing market.
The business has raised a total funding of $378K across three rounds, with the latest being a Seed round of $155K on November 22, 2021, led by Shuru Up and three other investors. The company had a post-money valuation of $353K as of March 2, 2021. As of March 31, 2022, its annual revenue stood at ₹11.3L ($15.1K), while it reported a net loss of $31.1K. The platform is operated by its legal entity, Dwellerin Network Private Limited, incorporated on June 21, 2017.
