Homigo raises $200K In Seed Funding

Bangalore-based Homigo, a platform that provides working professionals with fully-furnished houses on sharing basis, has raised $200k in Seed funding from unnamed individual investors based out of Bangalore and abroad.

Started in July 2015 by three IIT Kanpur graduates – Nikunj Batheja (CEO), Jatin Mitruka (COO) and Aakash Verma (CTO), Homigo focuses on bridging the gap between the demand (of live-able houses) and the supply (houses available on rent) in an organized manner.

How Does It Work?

Homigo takes up houses on rent from owners and turns them into ‘Homigo Houses’ by furnishing them with relevant items and appliances. Besides furniture and electronics, the startup also takes care of minor household objects like cutlery, utensils etc., and management of electricity, Internet and other services, to make it convenient for people to move into new homes. It also claims to manage flatmate compatibility.

It is a platform that provides working professionals with fully-furnished houses on a shared basis.

The team claims it already has close to 400 pending requests on its website.

“We are choosy when it comes to selecting houses. If you see our current houses you will notice a lot of good societies where there all the amenities like gym, pool and a well-maintained club house. Most of the upcoming Homigo houses that you will see will be in societies where bachelors find it difficult to get a house. All in all, Homigo is not just a company, it’s a solution; a solution for owners as well as tenants,” said Nikunj.

The company plans to reach around 10,000 areas in the coming one year spread across Bangalore, Hyderabad, Pune and Chennai. With this funding, it plans to expand only in Bengaluru and aims to reach 500 beds. The startup is planning to launch its app very soon and will be integrating a lot of services at one place.

Until now the online real estate sector was mainly about property search on online classifieds, where users got an option only to look for houses and apartments. Off late since a trend of sharing spaces has come up, (With AirBnB and Lyft being two leading examples) startups like Flatchat, Flatmate has come up which allows users to select their roommates first and then the apartments. Online real estate space is evolving with the change in consumer behaviour, and one can possibly expect more such initiatives rising up in the near future.

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