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Homversity, a student housing network, has successfully raised $1 million in a pre-Series A funding round. The funding was led by Inflection Point Ventures (IPV), with participation from several other investors including Shuru-Up, Value Angels, Vinners Group, and Pro-Growth Ventures.
Company
Founded in 2019 by Saurav Kumar Sinha, Homversity aims to streamline India’s student housing sector. The platform connects students with secure accommodation options and addresses various aspects of student living, including quality of stay and meal provisions. Notably, it offers a 100% refund on cancellations.
Funding
- Establish a premium scalable student housing operator model
- Expand operations across India
- Enhance the platform’s offerings
- Improve overall user experience
Market Opportunity:
India’s student housing sector presents a ₹58,000 crore market opportunity, driven by over 35 million annual student enrollments across approximately 51,000 educational institutions.
Investor Perspective:
Ankur Mittal, Co-Founder of IPV, emphasized the challenges faced by students transitioning from rural to urban areas. Homversity aims to mitigate these issues by providing high-quality living conditions and nutritious meals.
Company Background:
Homversity’s inception was motivated by Saurav’s personal experiences with student housing challenges. The platform has evolved into what it claims is India’s largest student housing network, focusing on digital solutions without brokerage fees or hidden charges.
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