Weekly Proptech: Friday, August 5, 2022

Written By CRETI
 
 
 

This Week in Proptech

This Week in Proptech — $145 million was invested across 15 companies at a median funding amount of $5.2 million. Some of the largest funding rounds went to flex-office, residential, brokerage, industrial, and climate proptech companies.

The Market in a Nut Shell: This week, venture capital investments in proptech companies decreased by 68 percent. A total of 67 investors were involved in 15 companies at an average of 4.5 investors per deal.

Why Does This Matter?

This week we took a look at the Inflation Reduction Act and its impact on the clean tech industry. The new legislation would represent the country’s largest investment in climate change mitigation to date. The bill includes $369 billion in tax breaks, and other climate-related incentives that experts estimate could help the U.S. reach a 40 percent reduction in greenhouse gas emissions by 2030.

What Does This Mean For Clean Tech?

Besides capital for clean tech projects, the bill will result in a major investment in technological research and development, ramp up domestic solar and wind manufacturing, and build a resilient energy future.

According to CNBC, the bill provides $27 billion to a clean energy accelerator to support technologies that reduce emissions, with an additional $2 billion to support energy research in government labs.

CRETI PROPTECH VENTURE 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.

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Notable Rounds of Funding

  • August 3, 2022 — Common Ground, a Kuala Lumpur, Malaysia-based flex office company, raised a $51.5 million Venture Round led by Catcha Group and Emissary Capital.

  • August 2, 2022 — Homzmart, an Cairo, Egypt-based home furnishing company, raised a $23 million Series B from Nuwa Capital, Outliers Venture Capital, Rise Capital, STV, and Impact46.

  • August 3, 2022 — Mudafy, a Mexico City, Mexico-based tech-enabled brokerage, raised a $10 million Series A from Founders Fund.

 
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