The round was led by Lightspeed Venture Partners, with participation from Polychain Capital, Galaxy Ventures, Wintermute Ventures, and other institutional investors. The company is building the technology and infrastructure to transform U.S. housing into a broadly investable asset class. Its platform combines a daily-reporting index with tokenization technology and real estate and capital markets services to power third-party housing-linked investment products. USHP, based on Index Industries' U.S. Home Price Index and issued by USHP Limited (BVI), will be the first investment product built on the platform.

Index Industries is building the technology and infrastructure to transform U.S. housing into a broadly investable asset class. Founded in 2026 by Josh Rosenthal, CEO of Index Industries and former President of Polychain, and Brian Hardecker, Chairman of Index Industries and CEO of Longmark Group, formerly of Blackstone Real Estate, Index Industries manages the U.S. Home Price Index and provides technology for USHP.