Report: Investors put more capital into PropTech companies
Connected Real Estate Magazine – September 30
PropTech startup companies are currently on the rise. Venture capital-backed real estate companies have raised approximately $11 billion in 2021—a 22% boost from last year, according to recent Crunchbase News data. Low interest rates, a good construction market, and government spending have all played key roles in the uptick in PropTech investment dollars. However, the flood of institutional money into the real estate industry has been the biggest factor.
Companies are betting on new tech to make the re-opening of offices safe
CNBC - September 30
The next time a company accountant is tallying up operational expenses for their office buildings there could be several new items on the list: sensors, ultraviolet lights, and maybe even plants with algorithms. As companies and building owners re-open office doors after the coronavirus pandemic, they are now faced with greater responsibilities in keeping tenants and workers safe. Grant Morgan, the CEO of biosafety start-up R-Zero, said that this has opened up a whole new line of business for companies providing products and services around hygiene and safety.
How to solve the 5 big data challenges holding CRE back
GlobeSt.com - September 20
Leasing automation, centralized leasing departments, providing customer service through bots, smart-home IoT devices, and using mapping technology to replace spreadsheets are among the forward steps the apartment industry has been taking to handle data since the pandemic. Yet many companies are facing challenges in gathering, analyzing, and using data. JLL’s Transform with Technology report explores common hurdles that businesses are facing when making the most of PropTech, along with a few available solutions.
Apartments built on an assembly line
New York Times – September 10
What if housing were built more like cars — on an assembly line in a factory? Rick Holliday, a longtime Bay Area developer, turned a former Naval submarine factory into one that has been doing exactly that. Workers at Factory OS construct apartment building components on Mare Island in Vallejo, about 40 miles from San Francisco, then transport them on flatbed trucks to their final location. The process can cut the time it takes to build an apartment building in half, to roughly only 11 to 12 months, Holliday said.
PropTech startup snags $180M in debt and equity
PitchBook - September 21
Blueground has raised $180 million in a Series C fundraising. The round consisted of $140 million in equity financing led by WestCap, and an additional $40 million in debt funding from Silicon Valley Bank. Geolo Capital, VentureFriends, and Prime Ventures also participated in the equity portion of the round. Based in New York, Blueground offers fully furnished rentals and access to other services like apartment cleanings and grocery delivery.
Measurabl raises $50M to help reduce carbon footprint of commercial buildings
The San Diego Union-Tribune – September 14
San Diego startup Measurabl, which makes software that helps commercial real estate companies track the carbon footprint of properties, has raised $50 million in a Series C round of venture capital investment. The money will accelerate Measurabl’s efforts to expand into new markets and introduce additional features to help drive decarbonization in commercial real estate.
Mynd raises $57.3M at an $807M valuation to give people a way to invest in rental properties remotely
Tech Crunch – September 16
Mynd, which aims to make it easier for people to buy and manage single-family rental properties, has raised $57.3 million in funding from QED Investors. The financing values the Oakland-based company at $807 million, and brings the company’s total raised to $174.9 million since its 2016 inception. Invesco Real Estate led its previous round, a $40 million raise, and committed $5 billion to purchase and rent 20,000 single-family homes through Mynd over the next three years.
Pacaso raises $125M in Series C round
Crunchbase News – September 14
PropTech startup Pacaso has raised $125 million in a Series C round less than a year after the company launched. Pacaso helps people find and buy second homes that they co-own with others. The Series C round brings the company’s valuation to $1.5 billion and comes as Pacaso marks its international expansion into Spain.