Weekly Proptech: Friday, November 11, 2022

Written By CRETI
 
 
 

This Week in Proptech

This Week in Proptech — $157 million was invested across 16 companies at a median funding amount of $4.4 million. Some of the largest funding rounds went to construction, residential, multifamily, and other real estate technology categories.

Funding in a Nut Shell: This week venture capital investments increased by 4.7 percent. Venture funding rounds, letter rounds without a clearly identified funding type, represented 30 percent of funding activity, the largest funding segment this week.

CRETI PROPTECH VENTURE INDEX

State of the Market

This week we took a look at venture capital investments in proptech companies and what it means for the industry.

Over the past four weeks, $1 billion has been invested in proptech companies. While reaching the billion-dollar market is impressive, compared to the same time last year, the industry is down $2 billion ($755 million per week).

What Does This Mean For PropTech?

The proptech industry is at an inflection point. Macroeconomic conditions and financial headwinds have emphasized the need to digitize real estate and property operations with the goal of lowering operating costs and unlocking new revenue opportunities. However, during times of economic turbulence, entrepreneurship and fundraising decline, and in some cases, dramatically.

Notable Rounds of Funding

  • Airly raised a $5.5 million Series A co-led by Pi Labs and Firstminute Capital with investments from Richard Branson, Cal Henderson, Semapa Next, TOVentures, and 3 other investors.

  • Alvéole raised a $8.1 million Series A led by Round13 Capital.

  • Yave raised a $7.5 million Seed Round co-led by Better Tomorrow Ventures and MetaProp with investments from Goodwater, Activant, Moore Capital, Fintech Fund, Cross River, Vinte, Magma Partners, DILA Capital, and Wollef from 29th Street Ventures, LAB Ventures, and 1 other investor.

 
CRETI https://cretiventures.com
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