Weekly Proptech: Friday, July 1, 2022

Written By CRETI
 
 
 

This Week in Proptech

$327 million was invested across 17 companies at a median funding amount of $15 million. Some of the largest rounds of funding went to companies in residential, energy, sustainability, architecture & design, smart cities, and more.

Why Does This Matter?

Recession, recession, recession 📉. Talks about a recession has overtaken the global economy. In the US, inflation has continued to increase to a four-decade high of 8.6%, according to the 🇺🇸 Bureau of Labor Statistics. Factor in increased interest rates and out-of-wack 🥴 consumer spending, and it's no wonder the global economy is hunkering down for the "inevitable."

Despite a rollercoaster 🎢 of emotions, sustainability 🌿 has been a glowing ☀️ sector and continues to be drenched with opportunities. In fact, year to date, *$25 billion has been invested across 560 private climate tech companies in real estate, construction, hospitality, agriculture & land, energy, science & engineering, life sciences, natural resources, alternative resources, consumer tech, and more.

What Does This Mean For Proptech?

The financial success of climate tech is poised to survive a recession. The urgency at which capital has flowed into the sector has surpassed market expectations. In real estate, sustainability has made its way into the commercial and residential real estate sector, namely in the form of green buildings. From decarbonization and carbon capture to alternative energy ⚡️ and renewables 🔋, the market is ripe with opportunity as the industry continues to grow.

*Data from CRETI data and research, Crunchbase, Pitchbook, and public filings.

CRETI Venture Capital Index

CRETI Proptech Index
The CRETI Proptech Index is a private market real estate technology index tracking the financial performance of the proptech industry. It is the most followed proptech venture capital indices, globally. Contact us to learn more.

TOGETHER WITH Moderne Ventures

Moderne Ventures is now accepting applications for its 2022 Midyear Passport class!

The Moderne Passport is a 6-month industry immersion program. We help proptech companies refine and execute their go-to-market strategies, connect with members of the Moderne Network™ - access to 700 corporations and executives in the real estate industry, and provide mentorship, pilot, and investment opportunities.

Notable Rounds of Funding

  • June 29, 2022 — WiredScore, an NYC-based digital connectivity rating system for commercial office buildings, raised a $15 million Series B led by Beringea with investments from Bessemer Venture Partners, Crow Holdings, Cushman & Wakefield, Fifth Wall, Jona Capital, and Taronga Group.

  • June 29, 2022 — Cleartrace, an Austin, TX-based company that provides automated energy and carbon accounting for investors, enterprises, and real estate owners, raised a $20 million Series B led by ClearSky with investments from Brookfield Renewable Partners, EDF North America Ventures, Exelon, and Tenaska.

  • June 30, 2022 — Stake, an NYC-based cashback platform for renters, raised a $12 million Series A led by RET Ventures with investments from Enterprise Community Partners, Hometeam Ventures, Operator Stack, Shadow Ventures, Olive Tree Ventures, and Second Century Ventures.

UPCOMING EVENTS

CREtech, the largest international community of professionals devoted to technological innovation in the real estate sector, announced today that speakers from Blackstone, Hines, Ivanhoe Cambridge and Tishman Speyer will join the speaker lineup for CREtech’s flagship event and largest real estate technology conference, CREtech New York, taking place this October 12-13.

  • John Fitzpatrick, Senior Managing Director, Blackstone

  • Ilene Goldfine, Chief Digital Strategy Officer, Hines

  • Rob Simpson, Senior Director, Sustainability, Ivanhoe Cambridge

  • Jonathan Flaherty, Global Head - Sustainability and Building Technology Innovation, Tishman Speyer

 
CRETI https://cretiventures.com
Previous

Weekly Proptech: Friday, July 8, 2022