Homversity, one of India’s most prominent student housing networks, organizes several verticals of India’s student housing industry, has recently raised $1 million in a pre-Series A round led by Shuru-Up, IPV (Inflection Point Ventures), Value Angels, Vinners Group, TAS, Pro-Growth Ventures, and Growth 91, with participation from other marquee investors.
Founded by Saurav Kumar Sinha in 2019, Homversity connects students with secure and convenient accommodation options while organizing multiple verticals within the student housing industry. The platform’s key focus is organising major industry verticals like quality of stay, good food, and a safe/secure ecosystem for students with hassle-free processes and support systems like 100% refund on cancellations. Its strengths lie in its extensive, in-depth database and deep insights into the challenges tenants and landlords face. This unique understanding allows the company to address key pain points in the student housing market, offering tailored solutions that enhance the experience for all users.
Speaking about the company, Saurav Kumar Sinha, Founder and CEO of Homversity, said:
Homversity is working extremely hard towards solving the student housing problem in India and uplifting India’s student housing Industry. With IPV’s expertise in having worked with some great companies in the past targeted towards mass audiences, we see Homversity propelling towards becoming the largest premium student housing brand in the coming years.
The student housing industry in India presents a ₹58,000 crore opportunity, driven by over 35 million annual student enrollment across 51,000 universities, colleges, and institutes. Many institutions lack on-campus hostel facilities, creating a significant demand for off-campus housing solutions.
Ankur Mittal, Co-founder of Inflection Point Ventures, added:
Students moving from rural areas to metropolitan cities for better education opportunities often face cultural shock regarding food, living, and transportation costs. Homversity aims to address two of these key problems by providing a high standard of living and healthy meals, whether students come from rural areas or other urban centres. By doing this, Homversity ensures students can focus on education, networking, and personal growth without worrying about these necessities.
Homversity intends to use this financing to develop a premium scalable student housing operator model. This strategic investment will also assist expansion efforts to expand the platform’s reach and improve its offerings for students across India.
