This Bengaluru-based startup named Ivy Homes has raised $5.75 million and $1.3 million in equity and debt in its seed round respectively. The round was participated by Khosla Ventures, Venture Highway, Y Combinator, GFC, Fundamental, Better Capital, and Titan Capital.
The prop-tech startup Ivy Homes uses artificial intelligence (AI) and machine learning (ML) to facilitate instant liquidity to home sellers. The company is planning to utilize the fresh funding capital in building its product and expanding its team.
Ivy Homes was founded by Abhilash Narahari and Pritam Thakur in the year 2021. It is a transactional real estate platform whose ML-based pricing algorithm works to forecast the fair market value of a property based on over 50 parameters.
The startup intends to find the lack of transparency in the real estate business when it comes to property purchasing and selling. The company has plans to become the go-to option for selling homes that offer fair market value for a property while enhancing the overall customer experience.
Abhilash Narahari, Co-founder, of Ivy Homes, said, “The funding we 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,” added Pritam Thakur, Co-founder, of 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.”