Proptech News 11/22/2024
Proptech, HealthTech, Prawns and a new Challenge Fund from Ufi in this week's Maddymoney - Maddyness
Gendo, an AI-powered platform that transforms architectural visualizations, has raised £4.3M in a Seed funding round. The platform, co-led by PT1 and LEA Partners, uses advanced image generation technology to create high-quality visualisations from 2D sketches, drawings, or text prompts in minutes. Since its beta launch in July 2024, Gendo has attracted over 3,600 users and generated over 50,000 images across 5,000 projects. Its ability to provide visualisations in under 10 minutes has made it popular among leading architecture firms like Zaha Hadid Architects and KPF. Patrik Schumacher, principal of Zaha Hadid Architects, has joined Gendo as an advisor. The funding aims to scale the platform and strengthen its position as a go-to AI tool in architectural visualization
NAR's REACH Program Named Top Accelerator by PropTech Outlook - NAR
The National Association of Realtors®' REACH technology growth program has been named PropTech Outlook's 2024 Accelerator of the Year. REACH, created by Second Century Ventures, is the most active venture fund in global real estate technology, leveraging a network of 1.5 million NAR members and executives. The program welcomed 55 new companies in 2024, offering solutions in building automation, decarbonization, brokerage, finance and banking, asset and property management, and data analytics. REACH operates two programs in the U.S., the UK, Canada, Australia and New Zealand, Latin America, and Israel, and aims to serve additional markets in the future. Applications are open for REACH programs in the U.S. residential sector, the UK, Australia and New Zealand, Latin America, and Israel
Autodesk leads $15.1m round for Singapore proptech firm - Techinasia
Podium, a property technology platform, has raised S$20.4 million (US$15.1 million) in a series A1 round led by software giant Autodesk. The funds will help Podium accelerate its growth in key markets, including Singapore and Australia, where it is in advanced discussions with property developers, design consultants, supply chain partners, and government agencies to join its platform. Podium addresses the critical challenges facing the built environment today, including low productivity, high waste, cost inefficiencies, and the growing need for sustainable building practices. The platform uses automation algorithms to generate detailed building models based on factors such as project cost, residential development units, and desired floor-to-ceiling height and loading limits. Suppliers can upload product data, allowing designers to generate building designs incorporating their materials and prefabricated components
Sustainable Proptech gaining momentum - Remi Network
Canada’s 2024 Sustainable Proptech Report highlights the rapid growth of tech companies in sustainable and smart buildings, with 131 firms now backed by institutional investors, up from 68 in 2021. These companies span four sub-sectors: asset management, analytics/research, sustainable construction, and smart cities, attracting $3.5 billion in funding to date, including $823 million in the past year. Modular construction, climate tech, and decarbonization are central themes, driven by climate volatility, labour shortages, and regulatory pressures. Modular construction offers efficiency gains, though it faces design and cost challenges. Regulatory frameworks like New York’s Local Law 97 underline the rising costs of non-compliance, while competitive pressures push developers to prioritize sustainability for operational savings and asset value. Investors foresee increasing demand for green technologies, as Canadian banks and venture capitalists commit significant funds toward climate-related financing. Industry leaders assert that decarbonizing the built environment will not only transform society but also drive economic and financial value.