Education sector in India is booming with a buoyant number of young students, around 35 million, enrolling themselves in more than 50,000 universities and colleges. Most of these students are unable to get accommodations in college hostels or dormitories which are already less in number. Only solution for these students are PG and private accommodations.
Often, it becomes a herculean task to get a safe and comfortable hostel room. Students, searching for proper hostel rooms are part of an unorganized market which are dominated by inefficient and irregular brokers and estate agents.
There was latent demand in market for a service to help students, working professionals and PG hunters. This untapped market captivated the imagination of Saurav Kumar Sinha who ended up founding Homversity. Homversity was started as a college project and went on to become one of the fastest-growing start-ups in the industry. Homversity aims to digitize and organize the searching, booking and management of hostels/PGs/and other forms of rental accommodation.
Homversity, is India’s most reliable, data-driven and verified platform catering needs of lakhs of students, real estate agents and PG owners. Backed by business intelligence, AI and analytics, it provides a listing of hostels, PG rooms, live-in accommodations, etc. as per the need and requirements of Students.
The company provides accurate and updated information which is verified by a strong team of experts. Homversity is a one-shop-stop medium, through which one can search and book hostel rooms or PG conveniently that too with best prices, no brokerage, and no hidden charges.
The ability to provide end-to-end services have helped company to grow at a rapid pace. With monthly booking of 2 lakhs per month in Jan 2022, within a span of 6 months, it has catapulted itself to around2 Crore in monthly booking by July 2022. This exponential growth has allowed the company to build a strong base for its future growth. It has also helped thousands of Private hostels, home, and PG Owners to engage with right mix of customers they want to connect.
Homversity began its services by catering to a few Tier 1 cities. Now it has spread its operations and gets business from cities like Kota, Dehradun, Ahmedabad, Indore, Bengaluru, Delhi & NCR which are part of an ever-increasing list of cities in its portfolio. Handling diverse sets of customers in different regions has allowed Homversity to deepen its understanding of markets that has enhanced its stability.
Homversity has received multiple rounds of funding from elite investment firms and HNIs. A strong customer base and series of funding has provided it a much-needed fuel to capture new markets. Its ambitious target to expand to more than 100+ cities and 5 lakh beds doesn’t seem to be difficult task now. It is investing in technology to make its services more scalable, targeted, and efficient. The platform’s offering will be improved with new a property management suite, and several data-driven solutions which will provide a richer experience to its customer base. With focus on design and product development, Homversity intends to offer more value-added services in near future.
The digital ecosystem known as Homversity promises to serve India’s $93 billion student housing and co-living market. They intend to revolutionise and perfect the market for student housing.
Frequently asked questions (FAQs)
What is Homversity?
Homversity was started as a college project and went on to become one of the fastest-growing start-ups in the industry. Homversity aims to digitize and organize the searching, booking and management of hostels/PGs/and other forms of rental accommodation.
Who is the founder of Homversity?
Saurav Kumar Sinha is the founder of Homversity.
When was the last funding round for Homversity?
Homversity has received multiple rounds of funding from elite investment firms and HNIs.