This Week in Proptech

This week there were headline-grabbing deals in industrial - logistics and residential real estate tech.  Globally, deal volume slowed across the entire industry while unicorn ibuying startup Opendoor announced their plans to go public.

Opendoor — $1.0 Billion — Residential
Opendoor raises $1.0 billion as the company prepares for its IPO.  The company will receive $414 million from the capital generated from the April initial public offering of his SPAC, Social Capital Hedosophia II. Additionally, a group of investors, including Palihapitiya and funds managed by BlackRock, agreed to infuse another $600 million through a PIPE, or a private investment in public equity. 

The deal values Opendoor at $4.8 billion — nearly equal to its 2019 revenue. The company’s earlier investors include General Atlantic, SoftBank’s Vision Fund and Lennar Corp. 
 
Volansi —$50.0 Million — Logistics
Volansi, a San Francisco based, drone delivery startup raises $50 million as they expand into new markets.  The round, led by Icon Ventures,  brings the company's total funding up to $75 million. 
 
Data.World — $26.0 Million — Logistics
Data.world, an Austin-based data platform, raises $26 million to expand it's enterprise data catalog.  The round was lead by Tech Pioneers Fund, with participation from Breyer Capital, Prologis Ventures, Alumni Ventures Group, Shasta Ventures, OurCrowd and Workday Ventures. Angel investors Arthur Patterson, Lincoln Brown and Cotter Cunningham also participated.

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