- Founder: Saurav Kumar Sinha
- Business: Accommodation Booking Platform
- Ask: ₹65 Lakhs for 2% Equity
- Net Worth/Valuation: ₹32.5 Crore
- Funding: No Deal
- Sharks: No Deal
- Episode: Season 3 Episode 3
Homversity Shark Tank India Pitch:
Homversity is a smart digital housing platform that provides students with access to book accommodations according to their preferences. There are no brokerage or hidden fees for booking. Homversity also assists property owners in efficiently managing and operating their properties.
Currently, the Homversity app and website are utilized in 30 different cities, offering more than 1.1 lakh beds to students. They have established 145 parameters that contribute to the rating of hostels, requiring hostels to meet at least 70% of these parameters to be listed on Homversity.
Homversity Shark Tank India Financials:
Homversity operates with three distinct revenue streams. The first model involves a commission from bookings, the second is a Software as a Service (SaaS) app charging ₹30 rupees per bed per month, and the third model offers services like maintenance.
For the fiscal year 2023-2024, they have projected bookings to be around ₹25-₹30 crores. By September of the fiscal year 2023-2024, they have already exceeded ₹4 crores in bookings. With an average accommodation duration of 3 months and a 10% conversion rate, they manage to achieve this. Their monthly expenses stand at ₹8 lakhs, with a revenue of ₹2 lakhs. However, their burn rate is triple that amount, at 6 lakhs.
Looking ahead to the fiscal year 2024-2025, they are projecting ₹5.6 crores in company revenue and anticipate a profit of ₹2 crores.
Homversity Shark Tank India Negotiations & Funding:
Vineeta was the first shark to opt out due to Homversity’s low three-month retention rate. Anupam expressed disappointment with the conversion answer and pointed out that Saurav lacked business maturity, leading him to opt out. Aman also chose to exit, citing concerns about the industry and uncertainty about when profitability would be achieved. Piyush and Ritesh also decided to opt out due to concerns about the company’s future strategies and a lack of clarity on Homversity’s goals. In the end, no deal was made.
Who is the founder of Homversity?
Sourav Kumar Sinha is the founder of Homversity, and he started this company when he was in the 3rd year of university as a college project. Sourav hold 70% equity in Homversity and 30% equity is share in 26 investors.
How is Homversity doing after Shark Tank India?
No deal was offered on the Shark Tank show. We will update this article within the next couple of months to provide information on how the business is running and report back on the revenue after the show.
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Here are other companies from Season 3 Episode 3.
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