Bangalore, India-based proptech startup Ivy Homes raised USD 7 million in seed funding. The round took place on June 6, 2022. Leading investors such as Khosla Ventures, Venture Highway, Y Combinator, GFC, Foundamental, Better Capital and Titan Capital participated in the funding. Ivy Homes raised USD 5.75 million in equity, whereas USD 1.3 million came in the form of debt.
Purpose of Funding for Ivy Homes
With the latest investment, Ivy Homes will build on its product offerings. Meanwhile, the proptech startup looks to ramp up its hiring.
The startup wants to address the lack of transparency in the real estate business regarding property purchasing and selling. It also wants to become the go-to option for selling homes that offer fair market value for a property. Ivy Homes look to enhance the overall customer experience.
What the co-founders have to say
“Home selling is such a large problem to solve. We believe the best way to deliver a superior customer experience is by being fully transactional,” said Pritam Thakur, Co-founder of Ivy Homes.
Abhilash Narahari, Co-founder of Ivy Homes, said, “The funding that we have 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.”
What the investor has to say
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.”
About Ivy Homes
Abhilash Narahari, IIT Kharagpur alum and Pritam Thakur, IIT Kanpur alum), brought Ivy Homes into existence in 2021. The proptech startup is a transactional real estate platform. It is based on a machine-learning pricing algorithm to forecast the fair market value of a property based on over 50 parameters.
Consequently, Ivy Homes serves a fairly vast market that has remained relatively unchanged in recent years. It provides a substantially more convenient option for selling by handling the whole process while also enhancing the user experience.
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