Homversity Raises $1 Million in Pre-Series A Round Led by Inflection Point Ventures

• ByStartupStory     |    November 29, 2024

Student housing network start-up Homversity has raised $1 million in a Pre-Series A funding round, led by Inflection Point Ventures (IPV). The round also saw participation from prominent investors such as Shuru-Up, Value Angels, Vinners Group, TAS, Pro-Growth Ventures, Growth 91, and other marquee investors.

The company plans to utilize the funds to establish a premium and scalable student housing operator model. It also aims to focus on growth initiatives to expand its platform’s reach and enhance its offerings for students across India.

Commenting on the fundraise, Saurav Kumar Sinha, Founder & 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.”

Adding to this, Ankur Mittal, Co-Founder of Inflection Point Ventures, emphasized the challenges students face when relocating for education:
“Students who move from rural areas to big cities for better education often experience a cultural shock due to the high 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 centers.”

Founded in 2019 by Saurav Kumar Sinha, Homversity is on a mission to create a safe and secure ecosystem for students. The start-up offers hassle-free processes and support systems, including a 100 percent refund on cancellations.

The company operates in a rapidly growing student housing market in India. Competitors in this space include Stanza Living, Zolo, Nestaway, and Coho.

The demand for student housing in India has been growing significantly. According to a 2023 study by Colliers, student relocation is projected to touch 31 million by 2036, while student enrollment in higher education is expected to surpass 92 million by the same year. The report highlights the untapped opportunities for investors and developers in the sector.

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