Weekly Proptech: Friday, April 8, 2022
This Week in Proptech
Venture capital investments in proptech companies decreased by 48.75%. $225 million was invested across 19 companies at a median funding amount of $2.8 million. Some of the largest rounds of funding went to construction, robotics, residential, asset management, and others.
Why This Matters
In the past three weeks, week-over-week investments in real estate technology and innovation-based companies has been below the total median amount of capital allocated to the sector. In fact, in the past three weeks, a total of $1 billion has been invested in the real estate tech industry.
What does this mean for proptech?
Year to date, a total of $7.669 billion has been invested in proptech companies. Venture capital investments have increased by 30.9%, year to date. In fact, during the same time last year, a total of $5.886 billion was invested in the industry.
So why the dip in funding?
Despite the decrease in total dollar volume, deal volume has remanded relatively the same. In the past three weeks, Seed Funding represented 26% of total deal volume. During the same time last year, Seed Funding represented 29% of total deal volume.
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Notable Rounds
April 7, 2022, Built Robotics, a construction tech company, raised a $65 million Series C led by Tiger Global Management with investments from Building Ventures, Fifth Wall, Founders Fund, and New Enterprise Associates.
April 6, 2022, IndiQube, a provider of coworking spaces, raised a $30 million Series B from Ashish Gupta and WestBridge Capital.
April 6, 2022, Cottage, a residential real estate tech platform, raised a $15 million Series A led by Fifth Wall with investments from DivcoWest, Susa Ventures, 1Sharpe Ventures, and 7 other investors.
