[Funding alert] Student housing startup Homversity raises $155K from investors to expand operations
The startup said it will use the funding to upgrade its technology on all ends, hiring new talent, and expanding services across India to over 100 cities.
Student housing marketplacehas raised $1,55,000 to expand its operations.
The round was led by Shuru-Up. Other investors who participated in the round include a consortium of their syndicates including Growth-Sense, ValCreators, BeyPar Innovations, and angel investors like Asit Oberoi.
Homversity, which was started in 2017 as a college project in a hostel room in Dehradun by Saurav Kumar Sinha, aims to create a verified ecosystem that would organise India's multi-billion dollar and rapidly growing student housing market, the company said in a statement.
"Homversity will be utilising the funds for upgrading their technology on all ends, hiring new talent, and expanding services nationwide to over 100 cities."
It had raised $1,35,000 pre-seed funding in 2019 by the La-Gajjar Group in Gujarat.
Kedar Dave, Founder & Managing Partner Shuru-Up, said, “At Shuru-Up, we believe that it is very hard to find a Founder who is not just running the startup, but living the startup every-day and once you find such founder it is a no-brainer to join the journey of the founder. Whenever a student shifts to another city or state, the first friend that he/she makes stays the closest to them. I believe that Homversity can be that 1st friend for any student and help them with their living.”
“Homversity is not just a hostel booking platform, it is the Students Company built by the students for the students,” he added.
Homversity has now evolved into a complete ecosystem with a variety of value added and innovative services and is moving towards becoming India’s Largest Student’s Company helping and serving millions of students nationwide.
“We at Homversity are thrilled to have such amazing investors with key insights and experiences of this industry, with their support and ideas we grow faster, better and cooler becoming the one stop solution for students in the coming years” said Saurav Kumar Sinha, CEO and Founder, Homversity.
Till now, Homversity has presented and won at several national and international events and are on their way to become the go to platform when it comes to searching and booking a hostel/PG.
(Disclaimer: Additional background information has been added to this PTI copy for context)
Edited by Megha Reddy