Abhilash Narahari and Pritam Thakur founded Prop tech startup Ivy Homes in Bengaluru in 2021, it employs artificial intelligence (AI) and machine learning (ML) to deliver immediate liquidity to domestic sellers.
The company intends to address the lack of openness in the real estate industry when it comes to property purchases and sales. It also aspires to be a viable alternative to traditional home sales, providing a fair market value for the property while also improving the whole client experience.
In a seed round of funding, it raised $5.75 million in equity and $1.3 million in debt. Leading investors such as Khosla Ventures, Venture Highway, Y Combinator, GFC, Fundamental, Better Capital, and Titan participated in the round.
“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,” said Abhilash Narahari, cofounder of Ivy Homes.
“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, co-founder of Ivy Homes.
Partner at Venture Highway, Priya Mohan said “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”
Ivy Homes uses AI and machine learning to make immediate offers on homes. It forecasts the fair market value of a property based on more than 50 characteristics using a machine-learning-based pricing algorithm.
Technology has evolved to simplify even processes like home-buying, enabling a reliable and transparent process. Ivy allows sellers to sell their houses in a matter of weeks, saving them months of stress and uncertainty. They are using prop tech to revolutionize residential real estate in India. They provide a seamless buying experience with complete transparency for buyers.
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