Openhouse Raises $2Mn Seed from IQ Ventures to Transform India’s Residential Resale Market

Prop-tech start-up Openhouse has raised $2 million in a seed round led by IQ Ventures, backing the company’s bid to professionalise India’s residential resale market. The raised capital will be utilised in product development, inventory curation and to scale the start-up’s end-to-end resale platform across high-demand NCR micro-markets.

The Gurugram-based start-up positions itself as a one-stop resale operator. It combines AI pricing, professional home staging, buyer sourcing, legal documentation and transaction management under a single service.

The company says its goal is to eliminate opaque pricing, fake listings and inconsistent broking practices that plague resale transactions today.

Funding & Backers

IQ Ventures led the round, which also attracted angel participation from former Zomato co-founders Mohit Gupta and Gunjan Patidar, SaaS Labs founder Gaurav Sharma, Spinny co-founder Ramanshu Mahaur, and other strategic investors.

Founders Rahool Sureka and Ankit Khemka, alumni of IIT Delhi and with prior exits and financial leadership experience, will steer deployment of the fresh capital.

Openhouse is targeting a rapid GMV ramp, aiming to grow monthly gross merchandise value from around ₹10 crore to ₹100 crore within the next 4–6 quarters. The company plans to expand its verified inventory, scale premium staging services, and beef up legal and compliance teams to shorten transaction cycles and increase throughput.

Signature Offering

At the centre of Openhouse’s value proposition is a 90-day sale guarantee for sellers, designed to deliver speed and certainty; buyers gain access to verified listings and data-driven valuations.

The start-up says the model reduces time-to-close and improves price transparency in a market notorious for lengthy, trust-scarce processes.

Openhouse’s technology suite includes the Data IQ engine, which analyses more than 100,000 market data points monthly to produce automated price estimates and demand signals, and Broker AI, a recommendation tool that matches buyers to societies and homes aligned with budget and lifestyle preferences. The founders say the tools underpin faster pricing, better matching and more predictable outcomes.

Market Opportunity

The founders point to the broader market context. India’s organised residential resale segment across major cities is substantial, and Openhouse says it can capture share by offering certainty, transparent pricing and an integrated service model. The proposition is pitched at sellers frustrated by opaque commissions and buyers seeking verified options.

Co-founder Rahool Sureka said the start-up was born from personal frustration with a broken resale experience and a conviction that an organised, tech-led player could professionalise transactions end-to-end. Co-founder Ankit Khemka brings financial and operational expertise to the platform’s scaling plan.