Weekly Proptech: Friday, September 30, 2022

Written By CRETI
 
 
 

This Week in Proptech

This Week in Proptech — $225 million was invested across 15 companies at a median funding amount of $3.3 million. Some of the largest funding rounds went to multifamily, property management, decarbonization, and other proptech companies.

Funding in a Nut Shell: Venture capital investments increased by 45.2 percent in a week-over-week analysis of proptech capital allocation.

CRETI PROPTECH VENTURE INDEX

State of the Market.

This week we took a look at real estate technology and the future of office buildings.

Since the end of COVID 🦠 restrictions, office buildings 🏢 have remained mute 🤐. According to research by CBRE, corporate real estate executives appear eager to improve office occupancy by accommodating new ways of working that include a broad return to the office.

Despite changes in how people choose to work, according to the survey, results indicate that the strategies to influence employees’ return to the office is split between being company vs. employee-led.

A core strategy in the future of the office is leaning into technology. Property owner-manager and occupiers are showing greater interest in blending the physical and virtual worlds to create affiliation between employees regardless of location. Additionally, organizations are advancing the adoption of video technology, smart building and occupancy sensors, tenant experience apps, and more.

What Does This Mean For PropTech?

In an analysis of real estate tech companies on the 2022 CRETI Office Real Estate Index, $900 million has been invested in office-based proptech companies globally.

VTS, an NYC-based commercial real estate tech company, Common Ground, a Malaysia-based flex office provider, and Cove, a DC-based tenant experience company, raised some of the largest equity rounds, year to date.

Despite total capital allocation, the market for pure office technology has been met with mixed reviews. Areas of opportunity seem to be at the intersection of traditional office and office adjacent sectors.

IN PARTNERSHIP WITH CRETECH

Join us in New York City on October 12th and 13th for two days of the most exciting in-person event in the world of real estate technology and innovation. No other event brings together so many landlords, asset managers, brokerages, construction companies, tech startups, venture capitals, thought-leaders, and more all under one massive roof.

Experience the largest trade show, most strategic networking opportunities, and world-class content covering every industry food group including office, multifamily, single-family, construction, retail, logistics, and hospitality in a fast-paced, electric environment.

Notable Rounds of Funding

  • September 26, 2022 — Disperse, an on-site construction tech platform, raised a $16 million Series B led by 2150 with investments from Kindred Capital and Northzone.

  • September 26, 2022 — SweepSouth, a home services platform, raised a $11 million Series B round from Alitheia IDF.

  • September 26, 2022 — Giatec, an internet of things for concrete testing, raised a $3.7 million Venture round from BDC Capital Cleantech Practice.

 
CRETI https://cretiventures.com
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