YourOwnROOM, which is a residential prop-tech startup, has now secured $1.3 million in the seed funding round from a group of investors that include the US-based investment firm Lotus Capital, and others.
YourOwnROOM’s rental and property management business was set up in the year 2016 by the Sachin Joshi and Prabhat Kumar, both the friends and colleagues are from the DXC Technologies. It offers with the strategically located managed co-living and family homes to the millennial tenants.
In a statement, Sachin notes, “Since the beginning, we have acquired different sizes of residential assets and run them profitably on our platform with the help of extensively implemented machine learning (ML) and artificial intelligence (AI) on different internal processes of a business. Our platform today provides the capability to bet on suitable assets and markets with long term tenants and improved returns”.
The statement notes that YourOwnROOM has set a strong foundation over the last 3.5 years and has learned the recipe to scale its co-living business profitably. “We have learned that procuring the right asset at the right location and staying on top of operations using tech is critical for our long-term sustained profitable growth,” says Prabhat.
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