This Week in Proptech - July 2, 2021

Written By CRETI

This week in proptech, approximately $561 million (+1.45%) was invested in real estate technology companies. Globally, 32 (+60%) companies announced funding rounds at a median of $11 million (+83%). Investments ranged across various sectors, mainly industrial, logistics, residential brokerage, and finance.

Notable Rounds

  • On June 28, 2021, Bowery Valuation, a New York-based tech-enabled appraisal company, announced a $35,000,000 Series B led by Goldman Sachs Asset Management with investments from Alpaca VC, Nine Four Ventures, Navitas Capital, Camber Creek, Capital One Ventures, Builders VC, Fika Ventures, and Greenspring Associates.

  • On June 29, 2021, Toggle, a Brooklyn-based construction robotics company, announced a $8,000,000 Series A led by Tribeca Venture Partners with investments from Blackhorn Ventures, Point72 Ventures, Twenty Seven Ventures, and New York State’s Empire State Development Fund.

  • On June 29, 2021, Side, a San Francisco-based tech-enabled real estate brokerage company announced a $50,000,000 round led by Tiger Global Management with investments from D1 Capital Partners and ICONIQ Capital.

What Does This Mean?

This week in proptech, the market continues to outperform market expectations. Real estate tech venture capital dollar volume increased by 1.45%. The residential real estate technology sector continues to lead venture capital activity. This week, New York-based real estate technology companies dominated headlines with venture capital investments in Bowery, Toggle, and others.

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CRETI https://cretiventures.com
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