HooLiv, a student co-living platform, has been able to secure a Pre-Series A financing round where they have raised ₹24 crore (approximately $2.7 million). Negen Capital was the lead investor in the funding round. Other participants in the round were a combination of financial stakeholders, such as institutional investors, different family offices, and a handful of angel investors. This funding is an important move towards the New Delhi-based startup because it will aim at expanding its operations and establishing itself in the Indian student housing market that is expanding.

Primary focus and key areas to facilitate growth

The funding round has been successfully closed, which indicates that the investors believe in the business model of HooLiv, which is aimed at delivering specially designed student accommodations. The platform will focus on the particular needs of the students who are located in both universities and key coaching centres.

Since its establishment, HooLiv has branded itself as a combination of real estate management and technology to provide one-stop and hassle-free housing services, including but not limited to maintenance, security, and community interactions.

Strategic geographical expansion is the core area of investment in the use of the recently raised funds. HooLiv will use the proceeds to pursue its expansion effort, which will be aggressive and more so expansion to non-metro cities. The rationale behind this is to take advantage of the growing need for formal student accommodation beyond big metropolitan regions.

The capital will be invested in strategic areas to make this growth possible. New Bed Acquisitions, expanding the number of vacancies to cope with the demand. Brand-Building Initiatives, enhancing the HooLiv brand name in the new and existing markets. Upgrades of the Property Management Platform, the improvement of the underlying technology infrastructure to enhance efficiency, customer experience, and operational management.

In addition to its immediate domestic expansion plans, the New Delhi-based startup also has a vision of expanding its successful business model globally within a few years. This is a long-term objective that will position the firm to possibly exploit the international student housing market.

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Core value proposition and key strategic goal

HooLiv was founded in 2019 by four co-founders, Chinmoy Mishra, Abhishek Verma, Gaurav Vij, and Rasmi Mishra. They had the vision of developing an organized, technology-supported product that was to serve the disjointed student housing market. Through the management of student accommodation, students are guaranteed that the products are uniquely designed in line with the lifestyle and academic needs of the students.

The co-living platform has also shown great momentum and acceptance in the market since its introduction. It has a network of 20 locations and can boast over 15,000 customers served, to date. This current footprint is a good platform upon which it intends to expand to non-metro cities.

HooLiv is most identified with the core value, which proposes the ability to provide a holistic and hassle-free living experience, especially to students and their parents who are going through the hassle of locating appropriate accommodation close to educational institutions.

Through this new funding, one of the most important strategic objectives of HooLiv is to effectively fill and close the significant demand price gap that prevails in the well-organized student residential industry in India. The two primary forces in the market that are escalating this gap are the ever-increasing number of institutions of learning and the development, simultaneously, of mass coaching facilities developed around the nation.

The Indian education industry, with the large number of migratory students relocating to learning and coaching centers, poses a structural and constant demand for professional, secure, and controlled co-living accommodation.

With the new capital, HooLiv is planning to establish itself as a formidable force in offering these highly sought-after integrated housing solutions, which will, in turn, professionalize a section of the market that has always been filled with unorganized providers.

Conclusion

The Pre-Series A successful funding round by Negen Capital of ₹24 crore in HooLiv is a turning point in the life of the student co-living platform. This funding will enable HooLiv to bridge the demand and supply gap in the organized student housing market substantially, given that it already serves more than 15,000 customers in its 20 locations. The integrated, technology-supported living solutions will place the platform in a long-term domestic expansion with a view to expanding internationally in the future.