The India-based prop-tech startup, Ivy Homes has raised $5.75 million in equity and $1.3 million in debt in a seed round of funding.
The round saw participation from leading investors, including Khosla Ventures, Venture Highway, Y Combinator, GFC, Foundamental, Better Capital, and Titan Capital.
Ivy Homes makes instant offers to buy homes using AI and Machine Learning. It uses a machine-learning-based pricing algorithm to forecast the fair market value of a property based on more than 50 parameters.
It provides a substantially more convenient option for selling by handling the whole process while also enhancing the experience of home purchasers for resale homes.
Speaking on the funding round, Abhilash Narahari, Co-founder, of Ivy Homes said, “The funding that we have raised is a big step toward realizing 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.”
“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,” Pritam Thakur, Co-founder, of Ivy Homes added.
Further commenting on investment in Ivy Home, 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 start-up, 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.”