Ivy Homes: Prop-tech startup Ivy Homes raises $7 million in funding

New Delhi: Ivy Homes, a prop-tech startup that uses artificial intelligence and machine learning to provide instant liquidity to sellers, has raised $5.75 million in equity and $1.3 million in debt in seed round of funding.

The round saw participation form leading investors, including Khosla Ventures, Venture Highway, Y Combinator, GFC, Foundamental, Better Capital and

Capital.

“With our unique data and pricing engine, we aim transform what is a complex, painful and month-long ordeal into a transparent and predictable process,” said Abhilash Narahari, cofounder, Ivy Homes.

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.

“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,” said Pritam Thakur, cofounder, Ivy Homes.

“As the first institutional investors, we are excited to back founders who solve complex problems and deliver category-creating solutions. We believe Ivy Homes has the opportunity to create a tech-driven ‘never before seen’ customer experience for home sellers and buyers,” said Priya Mohan, partner at Venture Highway.

Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox.