๐Ÿš€ Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. ๐Ÿ”ฅ
Login

News on Medial

Related News

Homversity raises $1 Mn from Shuru-UP, IPV and others

EntrackrEntrackr ยท 7m ago
Homversity raises $1 Mn from Shuru-UP, IPV and others
Medial

Student housing networks platform Homversity has raised $1 million in a pre-Series A round from Shuru-Up, IPV (Inflection Point Ventures), Value Angels, Vinners Group, TAS, Pro-Growth Ventures, Growth 91, and other investors. The Ahmedabad-based company had previously raised $378K from Shuru-Up and more. The proceeds will be deployed towards establishing a premium, scalable student housing operator model, supporting growth initiatives to enhance the platform's reach, and improving its offerings for students across India, Homversity said in a press release. Founded in 2019 by Saurav Kumar Sinha, Homversity is a student housing network organising several verticals of Indiaโ€™s student housing industry. The platform focuses on organising major verticals of the industry, such as quality of stay, good food, and a safe, secure ecosystem for students with hassle-free processes and support systems like a 100% refund on cancellations. Homversity eliminates the hassles of food and living costs by providing a high standard of living and healthy meals, whether students come from rural areas or urban centres. By doing so, it ensures students can focus on education, networking, and personal growth without worrying about these basic necessities. According to market research, the student housing industry in India presents a Rs 58,000 crore opportunity, driven by over 35 million annual student enrollments across 51,000 universities, colleges, and institutes. Homversity states that its strengths lie in its extensive, in-depth database and deep insights into the challenges tenants and landlords face. This understanding allows the platform to address key pain points in the student housing market, offering tailored solutions that enhance the experience for all users.

Homversity raises $1 Mn from Shur-UP, IPV and others

EntrackrEntrackr ยท 7m ago
Homversity raises $1 Mn from Shur-UP, IPV and others
Medial

Student housing networks platform Homversity has raised $1 million in a pre-Series A round from Shuru-Up, IPV (Inflection Point Ventures), Value Angels, Vinners Group, TAS, Pro-Growth Ventures, Growth 91, and other investors. The Ahmedabad-based company had previously raised $378K from Shuru-Up and more. The proceeds will be deployed towards establishing a premium, scalable student housing operator model, supporting growth initiatives to enhance the platform's reach, and improving its offerings for students across India, Homversity said in a press release. Founded in 2019 by Saurav Kumar Sinha, Homversity is a student housing network organising several verticals of Indiaโ€™s student housing industry. The platform focuses on organising major verticals of the industry, such as quality of stay, good food, and a safe, secure ecosystem for students with hassle-free processes and support systems like a 100% refund on cancellations. Homversity eliminates the hassles of food and living costs by providing a high standard of living and healthy meals, whether students come from rural areas or urban centres. By doing so, it ensures students can focus on education, networking, and personal growth without worrying about these basic necessities. According to market research, the student housing industry in India presents a Rs 58,000 crore opportunity, driven by over 35 million annual student enrollments across 51,000 universities, colleges, and institutes. Homversity states that its strengths lie in its extensive, in-depth database and deep insights into the challenges tenants and landlords face. This understanding allows the platform to address key pain points in the student housing market, offering tailored solutions that enhance the experience for all users.

Your-Space posts Rs 142 Cr revenue in FY24; losses up 20%

EntrackrEntrackr ยท 9m ago
Your-Space posts Rs 142 Cr revenue in FY24; losses up 20%
Medial

Student housing startup Your-Space recorded steady growth, with revenue surpassing Rs 140 crore in the fiscal year ending March 2024. However, the Delhi-based company also saw a slight increase in losses during the same period. Your-Spaceโ€™s revenue from operations increased by 21.8% to Rs 142.7 crore in FY24 from Rs 117.2 crore in FY23, according to its consolidated financial statement filed with the RoC. Your-Space is a student housing company providing affordable PGs, hostels, and co-living spaces for girls and boys. The company operates over 60 smart spaces equipped with tech-enabled safety features such as facial recognition, biometrics, and digital locks. Income from residential services accounted for 99.5% of total operating revenue, which grew by 30%, reaching Rs 142.96 crore in FY24 compared to Rs 109 crore in FY23. The remaining income was derived from the sale of food, electricity, and other allied services. For the student housing startup, rental costs for accommodations accounted for 52.6% of total expenses, rising by 34% to Rs 92.2 crore in FY24 from Rs 68.9 crore in FY23. Employee benefits were Rs 21.1 crore in FY24. Additional overheads, including facility repairs and maintenance, advertising, and transportation, contributed to total expenses of Rs 175.3 crore in FY24, reflecting a 20% increase compared to FY23. See TheKredible for the complete expense breakdown. Your-Space recorded losses of Rs 30.7 crore in FY24, up from Rs 25.5 crore in FY23. Its ROCE and EBITDA margin stood at -809.54% and -69.15%, respectively. The company spent Rs 1.23 to earn a rupee of operating revenue in the last fiscal year (FY24). FY23-FY24 FY23 FY24 EBITDA Margin -14.47% -14.57% Expense/โ‚น of Op Revenue โ‚น1.24 โ‚น1.23 ROCE -69.15% -809.54% The eight-year-old startup has raised Rs 129 crore to date, including a $10 million round led by personal investments from Shantanu Rastogi (General Atlantic) and Ajay Guptaโ€™s (Capital Foods) family office, AJAX Capital, along with Holy Basil Consultancy. The startup competes with Abuzz Oxfordcaps, Stanza Living, University Living, and Housr, among others. The student housing market offers two distinct opportunities. One, tie-in with large universities to manage hostels for them as a service provider, as Good Host Space has done with its hostel model, primarily in association with the Manipal Group. And then there is the second model to provide student housing in the environs of colleges and universities independently, to fill the gaps in those markets. Both models have their advantages, with the Your-Space model relatively insulated from policy impact, but facing higher marketing and promotion costs, for instance.Irrespective, much like higher education itself, the sector faces interesting times ahead should the murmurs around rising costs into a clamour for a deeper view on education costs, where hotel costs have become a significant component. A sector where cost escalations have to be considered very carefully, however large the potential and existing size, will always lead to some investor wariness, and explains the relatively later entry of these startups to the funding party. The student housing sector is fast reaching that point where a breakthrough on the stability of the business model and visibility of growth prospects will be needed more clearly soon to keep attracting investor interest.

Co-living startup Truliv raises strategic investment from BCCL

EntrackrEntrackr ยท 13d ago
Co-living startup Truliv raises strategic investment from BCCL
Medial

Co-living startup Truliv raises strategic investment from BCCL Co-living startup Truliv has entered into a strategic equity partnership with Bennett, Coleman and Company Limited (BCCL) at a valuation of Rs 356.50 crore. The Chennai-based company had earlier raised 2.1 million US dollars in a seed funding round from DRA Homes and other investors. According to a press release, the fresh funds will be used to expand Trulivโ€™s footprint into new cities, strengthen its technology platforms, and build out the next set of alternate asset classes in hospitality including holiday homes and retirement living. Founded in 2019 by Rohit Reddy and Ranjeeth Rathod, Truliv is a subsidiary of DRA and is focused on transforming the alternate asset class hospitality sector in India. The company aims to deliver impactful and future-ready living solutions that cater to the evolving needs of diverse demographic segments. Operating through a built-to-suit, asset-light model, Truliv says its approach blends real estate efficiency with hospitality finesse. Its high occupancy properties serve the growing base of mobile professionals, digital nomads, and young urban migrants in India. Truliv currently operates in the holiday homes segment as its second asset class, with several more offerings under development. Its upcoming portfolio includes student housing, retirement communities, and nature-centric living solutions. Each offering is designed to redefine residential experiences through innovation, quality, and lifestyle integration. With plans to scale into new cities and diversify into emerging segments like holiday homes, retirement living, and nature-centric stays, the company is projected to generate Rs 200 crore in annual revenue within the next three years.

Download the medial app to read full posts, comements and news.