Bellevue Washington based PropTech startup Plunk secured $6.5 Million funding

Plunk, a Bellevue Washington based PropTech startup leveraging Artificial Intelligence and Machine learning has secured $6.5 million in a seed funding round.

Plunk is founded by David Bluhm. The protect startup's app aids the home buyers, home sellers, or homeowners to see what a home could be worth if renovated called Plunk Value along with other insights into their home upside potential. The company also offers a new home renovation loan, which helps to enable the financing of major remodeling projects.

PropTech is one of the hottest concepts which refers to the digital transformation taking place in real estate. Technological advancements such as artificial intelligence (AI) are changing the way people research, rent, buy, sell, and manage a property.

Andy Liu, the Co-founding partner of Unlock Venture Partners, said, "Knowing what your home will be worth before you remodel will become the new normal. We think every homeowner will appreciate the value that Plunk’s insights deliver."

Gen Tsuchikawa, chief investment manager for Sony Innovation Fund (SIF) and CEO and chief investment officer for Innovation Growth Ventures (IGV), said, "Plunk’s data-driven approach and creative use of AI make it easy for homeowners to make informed decisions when buying, renovating or selling their home. By building a platform connecting homeowners, lenders and contractors, Plunk has the potential to bring a layer of trust and transparency to the real estate business."

Unlock Ventures, led the latest funding round for the AI proptech startup. Other participating investors include Sony Innovation Fund, Vectr Fintech Partners, Plug and Play Ventures, and Second Century Ventures.

The company, as of now, has plans to use the new funds to release and iterate on its mobile app to further develop and bring to market its analytics to support residential real estate professionals, notes the announcement.