This Week in Proptech

Sep 11

Written By CRETI

This week we are adding several new sectors, including industrial and logistics to innovation and technology impacting real estate and the built environment.

We are adding industrial and logistics to our newsletter because industrial real estate is amongst the most underserved sectors within the industry, while logistics is the infrastructure that keeps the build world operational.

Venture capital was active during the conventionally slow week of Labor Day Weekend. This week in real estate tech venture capital there were headline-grabbing deals in architecture, construction, industrial, and logistics. Early-stage Seed and Series A funding has gained momentum into high barrier to entry sectors, while established companies continue to dominate headlines and funding.

The largest round went to Mosaic, a residential-construction technology company that provides adaptive solutions for planning and construction in the home building industry. The Pheonix-based company raised US$ 14.250 million in Series A funding lead by Andressen Horowitz, Building Ventures, and others. The company also inked a $100 million deal with Mandalay Homes to build hundreds of single-family homes in northern Arizona over the next 24 months.

The second-largest round went to Livspace, a interior design startup that connects people to designers, services, and products. The APAC-based residential marketplace raised US$ 90 million Series D led by Switzerland’s Kharis Capital and India- and Southeast Asia-focused Venturi Partners

The third-largest round went to Orchard, a residential-ibuying platform transforming the way people buy and sell their homes, raised a US$ 69 million Series C round led by Revolution Growth. Existing investors FirstMark Capital, Navitas, Accomplice and Juxtapose also participated in the round, which brings the company’s total funding to US$ 138 million.

What Does This Mean?

The month of September witnessed a variety of investments across multiple sectors and locations. While funding ranged significantly in deal sizes, deal volume was considerably higher than anticipated.

Investments spanned across multiple continents as total funding reached US$ 120 million across 12 companies in September, while deal sizes ranged from US$ 1.0 million and US$ 90.0 million.