Last updated on 28 January 2024.
Find everything about the Homversity pitch on Shark Tank India, founder Saurav Kumar Sinha, and the latest updates about the company!
Homversity on Shark Tank India
This next-gen startup is here to organize the hostels of India.
Here are the key details about their pitch on Shark Tank:
| Name | Homversity |
| Founder | Saurav Kumar Sinha |
| Episode | Season 3 Episode 3 |
| Ask | ₹65 Lakhs for 2% Equity |
| Deal | No Deal |
| Shark | NA |
| Status | In-business |
Homversity is a smart digital housing platform for Hostels. They are a one-stop solution for college students and working professionals to find the best accommodation in a different city. Also, they provide maintenance services to property owners.
The thing that makes Homversity different is that they are operators of the property, but just the main marketplace for hostels.
The pitcher asked for ₹65 lakhs of investment in exchange for a 2% stake in the startup. They operated in 30 cities till the time of the pitch.
An interesting fact here is that this is very similar to the first startup idea of shark Peyush Bansal, which was SearchMyCampus.com. So, he knew about the market and how difficult it is. However, the entrepreneur has figured out how they can earn profits.
The revenue model has 3 streams: commission through bookings, providing a SaaS platform for hostel owners, and maintenance service for their customers.
The idea was good but the market is not so sure shot. This was not something that investors wanted in their startups. Sharks were not happy with the low retention rate and high churn rate.
Anupam advised him that it is very difficult to crack and build a marketplace without spending billions of dollars. He even said to leave this aside for some time and learn first by working for another startup.
Peyush thought that he was moving too fast and needed to focus on the core problem. Ritesh advised the pitcher to prove the business in 1 or 2 cities first so that it gains the confidence of investors and property owners.
They all have something to say but no one wanted a piece of it at that moment. All of them were out.
Watch a small teaser of the pitch here:
Homversity got no investment on Shark Tank India season 3.
About Saurav Kumar Sinha
Saurav Kumar Sinha is the Founder and CEO of Homversity. The startup is headquartered in Ahmedabad, Gujarat.
Saurav was a student at UPES Dehradun studying B.Tech. in computer science, where he saw this problem. In his 3rd year of college, he founded Homversity and got its initial funding. In 2021, they got ₹1 crore funding from Shuru-Up.
After Shark Tank Updates
We will update any new updates about Homversity soon.
By the way, other businesses featured in this episode were Rodbez Taxi and Blix Toys.
Here is the official purpose of the company: “Homversity is working towards organizing/digitalizing India’s massive student housing and co-living industry with technology, innovation, and empathy. Homversity was founded by Saurav Kumar Sinha and a great team of individuals who understand the challenges faced by students and working professionals migrating to new cities and searching/booking/staying at a Hostel/PG/Flat or any other form of accommodation.”
Takeaways
So now you know about Homversity’s pitch on Shark Tank India and its founder Saurav Kumar Sinha. Not getting a deal is not the end of the world, so we hope he learns from the bits of advice and makes it big!
And if you don’t know who I am? I am Ranish Chauhan a.k.a. Fulmino Fan, a Fan of the Shark Tank show.