[Funding alert] Proptech startup Ivy Homes raises $7M from Khosla Ventures, Venture Highway, others
Bengaluru-based proptech startup Ivy Homes, which uses AI and ML to provide instant liquidity to home sellers, will use the funds to build its product and expand its team.
Bengaluru-based proptech startupon Monday said it raised $5.75 million in equity and $1.3 million in debt in its seed round, which saw participation from , , , , , , , and .
Ivy Homes, which uses artificial intelligence (AI) and machine learning (ML) to provide instant liquidity to home sellers, will use the funds to build its product and expand its team.
Abhilash Narahari, Co-founder, Ivy Homes, said,
“The funding we raised is a big step toward realising our mission to deliver transparent solutions to the real estate sector. With our unique data and pricing engine, we aim to transform what is a complex, painful, and month-long ordeal into a transparent and predictable process.”
Founded in 2021 by Abhilash Narahari (IIT Kharagpur alum) and Pritam Thakur (IIT Kanpur alum), transactional real estate platform Ivy Homes uses a machine learning-based pricing algorithm to forecast the fair market value of a property based on over 50 parameters.
The proptech startup intends to address the lack of transparency in the real estate business when it comes to property purchasing and selling. It also wants to become the go-to option for selling homes that offer fair market value for a property while enhancing the overall customer experience.
“Home selling is such a large problem to solve, and we believe the best way to deliver a superior customer experience is by being fully transactional,” added Pritam Thakur, Co-founder, Ivy Homes.
Priya Mohan, Partner at Venture Highway, said,
“As the first institutional investors, we are excited to back founders who solve complex problems and deliver category-creating solutions. Abhilash and Pritam bring a combination of domain, previous startup and tech experience, and in this, we saw a strong founder-market fit. We believe Ivy Homes has the opportunity to create a tech-driven ‘never before seen’ customer experience for home sellers and buyers.”
(This story was updated to add Rebright Partners to the list of investors in the first paragraph.)
Edited by Suman Singh