Index Industries announced a $50 million seed round led by Lightspeed Venture Partners on November 10, ahead of a planned token linked to US home prices. That first investment product will be offered only to eligible investors outside the United States.
Index Industries builds benchmarks and technology for third-party housing investments. The first planned product on its platform, USHP, would reference a daily national index assembled from existing monthly home-price measures. A separate company, USHP Limited, based in the British Virgin Islands, would issue the token. The product is pitched to asset managers, family offices, funds and corporate treasuries seeking housing exposure without owning property.
Co-founder and CEO Josh Rosenthal previously served as president and general partner of Polychain Capital. Co-founder and chairman Brian Hardecker also leads residential real estate platform Longmark. In the funding announcement, Lightspeed partner Justin Overdorff cited the Longmark partnership as a reason for leading the investment.
USHP’s website says minting and redemption prices would use the lower of the housing index and reserve value per token. That means investors would not be guaranteed redemption at the benchmark price—a material qualification to the proposed home-price exposure.
The November 10 announcement set out plans for USHP Limited to release the token on Ethereum in 2026 and expand to Solana in 2027.