- Homversity ranks among India’s leading student housing networks, simplifying diverse aspects of the student housing industry to offer secure and seamless accommodation solutions nationwide.
- The funding will drive the development of Homversity’s premium, scalable student housing operator model and fuel user base expansion.
- Inflection Point Ventures has invested more than ₹790 crore across 210+ startups to date.
Ahmedabad, November 28, 2024: Homversity, India’s largest student housing network, has successfully raised $1 million in a funding round aimed at transforming the country’s student housing landscape. This strategic investment will be used to establish a premium, scalable student housing operator model, enhance platform reach, and contribute to organizing India’s fragmented student housing industry.
The funding round saw participation from prominent investors, including Shuru-Up, IPV (Inflection Point Ventures), Value Angels, Vinners Group, TAS, Pro-Growth Ventures, Growth 91, and other marquee investors.
Driving Innovation in Student Housing
Since its inception in 2019, Homversity has connected students across India with secure, convenient, and affordable housing solutions. The platform bridges critical gaps in the student housing market by addressing issues such as cost, safety, and quality of living. With this funding, Homversity aims to expand its operations and strengthen its offerings, ensuring students can focus on education and personal growth without worrying about basic living necessities.
Speaking about the investment, Ankur Mittal, Co-Founder of Inflection Point Ventures, shared:
“Students migrating to metropolitan cities for education often face challenges such as high living costs and inadequate housing options. Homversity is solving these problems by providing high-quality living standards and nutritious meals, enabling students to thrive academically and personally.”
Founder’s Vision
Saurav Kumar Sinha, Founder & CEO of Homversity, commented:
“Homversity is committed to revolutionizing student housing in India. With IPV’s support and expertise, we are poised to become the country’s largest premium student housing brand. This funding will accelerate our efforts to organize the industry and create meaningful, scalable solutions.”
Saurav, a B.Tech graduate in Computer Science from UPES Dehradun with a professional background in IT Infrastructure Management at IBM, founded Homversity to address the challenges faced by students in finding quality housing. His vision is to uplift the student housing ecosystem and cater to the evolving needs of India’s student community.
India’s Booming Student Housing Market
India’s student housing sector represents a ₹58,000 crore opportunity, fueled by over 35 million annual student enrollments across 51,000 universities, colleges, and institutes. A significant portion of these institutions lack adequate on-campus hostel facilities, creating a growing demand for off-campus housing solutions.
Homversity’s deep insights into the needs of students, tenants, and landlords uniquely position it to address these challenges. The platform’s robust database and tailored solutions ensure a seamless experience for all stakeholders in the student housing ecosystem.
With this investment, Homversity is set to redefine the standards of student housing in India, empowering students to focus on their futures while enjoying safe, comfortable, and high-quality accommodations.
