In its pre-Series A funding round, which was led by Negen Capital and included participation from other institutional investors, family offices, and angel investors, the student co-living platform HooLiv raised Rs 24 crore ($2.73 million).
The New Delhi-based company had paid Kotle-Patil Developers an undisclosed sum earlier in February 2020.
The money raised will be utilized to improve HooLiv’s property management platform, build its brand, and acquire more beds in order to increase its operations in non-metropolitan areas. Additionally, the company intends to make its business model available abroad.
Chinmoy Mishra, Rasmi Mishra, Gaurav Vij, and Abhishek Verma founded HooLiv, which runs specially designed dorms for college students and coaching centers. In order to guarantee standardized operations, consistent living conditions, and cost effectiveness for both property owners and students, the platform focuses on offering well-organized, technologically advanced student housing.
With the help of technology and real estate management, HooLiv’s model provides integrated housing solutions that include features for community engagement, security, and upkeep. Large-scale facilities are converted and managed as student housing assets by the company in collaboration with property owners and educational institutions.
HooLiv intends to close the gap between supply and demand in India’s organized student housing market, which is being driven by the expansion of coaching facilities and universities throughout the nation.
