- Homversity is one of India’s largest student housing networks, streamlining various verticals of the student housing industry to provide secure and hassle-free student accommodations nationwide.
- Funds will be used to establish Homversity’s premium scalable student housing operator model and, grow its user base.
- So far, Inflection Point Ventures has invested over INR 790 Cr across 210+ startups
Ahmedabad, 29th November 2024: Homversity raises USD 1 million to establish its premium scalable student housing operator model, expand its operations and contribute towards organising India’s student housing industry. This round received participation from Shuru-Up, IPV (Inflection Point Ventures), Value Angels, Vinners Group, TAS, Pro-Growth Ventures, Growth 91 and other marquee investors.
Funds primarily to be utilised towards establishing a premium scalable student housing operator model. This strategic investment will also support growth initiatives to enhance the platform’s reach and improve its offerings for students across India.
Homversity, started in 2019 today is India’s largest student housing network. It connects students with secure and convenient accommodation options while organizing multiple verticals within the student housing industry. Saurav Kumar Sinha is the Founder & CEO of Homversity, a leading student housing network in India. He holds a B-Tech in Computer Science from UPES Dehradun and has experience in IT Infrastructure Management from IBM. With a passion for innovation, Saurav started Homversity in 2019 to revolutionise the student housing industry.
Ankur Mittal, Co-Founder, Inflection Point Ventures says, “Students moving from rural areas to metropolitan cities for better education opportunities often face cultural shock in terms of costs of food, living, and transportation. Homversity is looking to address two of these key problems by providing a high standard of living and healthy meals, whether students come from rural areas or any other urban centres. By doing this, Homversity ensures students can focus on education, networking, and personal growth without worrying about these basic necessities.”
Homversity’s strengths lie in its extensive, in-depth database and deep insights into the challenges tenants and landlords face. This unique understanding allows the platform to address key pain points in the student housing market, offering tailored solutions that enhance the experience for all users.
Saurav Kumar Sinha, Founder & CEO, Homversity, says, “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. A significant portion of these institutions lack on-campus hostel facilities, creating a large demand for off-campus housing solutions.
About Homversity
Homversity is one of India’s largest student housing networks, organising several verticals of India’s student housing industry. It was started in 2019, by Saurav Kumar Sinha, in a hostel room. Homversity key focus is towards organising major verticals of the industry 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.
About Inflection Point Ventures and Physis Capital
Inflection Point Ventures (IPV) is an angel investing platform with over 23,500+ CXOs, HNIs, and Professionals to together invest in startups. The firm supports new-age entrepreneurs by providing them with monetary & experiential capital and connecting them with a diverse group of investors. IPV has launched a $50 Mn CAT 2 VC fund, Physis Capital, to invest in Pre-Series A to Series B growth-stage start-ups. The fund has already deployed capital in two startups so far, with a few deals in advanced stages of pipeline.
