In a pre-Series A funding round led by Negen Capital, the student co-living platform HooLiv raised Rs 24 crore ($2.73 million), with participation from angel investors, family offices, and other institutional investors.

The New Delhi-based company had raised an undisclosed sum from Kotle-Patil Developers earlier in February 2020.

Key Highlights

• HooLiv secures ₹24 crore in pre-Series A funding led by Negen Capital.
• Investment to fuel HooLiv's expansion into non-metro cities and international markets.

The money raised will go toward building HooLiv's brand, acquiring more beds, and improving its property management system in order to increase its presence in non-metropolitan areas. Additionally, the business intends to export its business model.

HooLiv, which was founded by Abhishek Verma, Gaurav Vij, Rasmi Mishra, and Chinmoy Mishra, provides specially designed student housing for students attending coaching centers and universities. The platform's main goal is to provide well-organized, technologically advanced student housing that guarantees uniform living conditions, standardized operations, and cost effectiveness for both students and property owners.

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The HooLiv model offers integrated housing solutions, including features for community engagement, security, and upkeep, by fusing technology and real estate management. The company converts and manages large facilities as assets for student housing by collaborating with property owners and educational institutions.

With more universities and coaching facilities opening up all over the nation, HooLiv intends to close the gap between supply and demand in India's organized student housing market.