What Happened to Homversity After Shark Tank India?

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What is Homversity?

Homversity is a smart digital housing platform that helps students find their ideal hostel/accommodation during their college or university time.

When a student comes to the city for education purposes, he faces a lot of challenges in finding proper accommodation. There are many problems associated with this.

There aren’t enough options for students to choose from. The hostels are mostly unhygienic. The food you’ll get in these hostels isn’t up to the mark. Once you book a place, there’s no refund policy in case you don’t like the place.

Homversity is single-handedly solving all these problems for students. There are no brokerage fees or hidden fees in Homversity.

Who is the Founder of Homversity?

Saurav Kumar Sinha is the founder of Homversity. He started Homversity when he was in his 3rd year of college.

Homversity Before Shark Tank India?

Homversity is available in 30+ cities in India. It has more than 1.1 Lakhs beds enlisted.

Homversity provides all kinds of solutions to students. If a student needs help in any department he can just mention that in the application, the problem will be fixed automatically. He doesn’t need to do anything more than that.

How much money did he ask for on the pitch?

He came to Shark Tank India seeking ₹65 Lakhs for 2% equity in the company. Which gives the company a valuation of ₹32.5 Crores.

How to get Homversity?

You can visit the Homversity website or mobile application to use it. Homversity uses 145 parameters to rate any hostel. To get on board with Homversity, a hostel needs to pass 75% of those parameters.

When you go to the website, you can search for hostels that are closest to your college/university. There you’ll get all the necessary information like photos, pricing, etc. These photos are updated every 3 months.

Homversity earns in 3 ways.

  1. It earns commissions from student bookings.
  2. It earns from the SAAS app model.
  3. It earns from services

Unit Economics of Homversity

The average booking period is 3 months. The conversion rate is 10%. Their monthly revenue is ₹2 Lakhs and monthly burn is ₹6 Lakhs.  

What are the Annual Sales of Homversity?

Fiscal YearAnnual Sales
2022 – 2023₹6 Crores
2023 – 2024₹25 ~ ₹30 Crores Projected

Which shark gave Homversity an offer?

Vineeta Singh was out. She didn’t think the business could scale in the long run.

Anupam Mittal was out. He thought the founder lacked business maturity.

Aman Gupta was out.

Peyush Bansal was out.

Ritesh Agarwal was out. He advised him to focus on 2/3 cities rather than the whole country.

What deal did Homversity get in Shark Tank India?

Homversity didn’t get any deal in Shark Tank India.

Company Name Homversity
Founder Saurav Kumar Sinha
Asked Amount ₹65 Lakhs for 2%
Final Deal No Deal
Shark No Shark
Company Net Worth ₹32.5 Crores
Company Website www.homversity.com
Company Status In Business

What is the net worth of Homversity?

The net worth of Homversity is ₹32.5 Crores according to the founder.

Is Homversity still in Business?

Yes, the website and mobile application of Homversity are still live.

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