Latest in Commercial Real Estate Tech News by CREtech

Cashierless Amazon Go Plans Pop-Ups, Larger-Format Stores In 2020, Explores Licensing Deals

BISNOW

11/27/2019

Amazon’s invasion of the grocery store industry could begin in earnest next year. The e-commerce world-conqueror has been testing a 10K SF version of its cashierless Amazon Go convenience store in Seattle’s Capitol Hill neighborhood, and could roll out the concept in a nationwide expansion as soon as the first quarter of 2020, Bloomberg reports. The new format could reportedly apply to stores as large as 30K SF, the size of many grocery stores.

After WeWork, SoftBank’s Startup Bookkeeping Draws Scrutiny

BLOOOMBERG

11/27/2019

In early 2018, the founders of Chinese artificial intelligence startup SenseTime Group Ltd. flew to Tokyo to see billionaire investor Masayoshi Son. As they entered the offices, Chief Executive Officer Xu Li was hoping to persuade the head of SoftBank Group to invest $200 million in his three-year-old startup. A third of the way into the presentation, Son interrupted to say he wanted to put in $1 billion. A few minutes later, Son suggested $2 billion. Turning to the roomful of SoftBank managers,…

Hospitality Influences Multifamily in a Big Way

GLOBEST

11/27/2019

Concierge and housekeeping services that mirror the hospitality industry are increasingly catching on in the multifamily world. One hotel-inspired services firm, Spruce, allows residents to access an array of services including daily chores, housekeeping, pet care (dog walking, pet sitting, etc.), along with laundry and dry cleaning through its app. Spruce’s daily chores service includes more than 15 unique services such as folding clothes, washing dishes, making the bed, cleaning a single room,…

Leavy.co, the app for millennials who want to rent out their room while travelling, discloses $14M funding

TECHCRUNCH

11/27/2019

Leavy.co, the Paris-born startup that offers a travel app for millennials to help them travel more without getting into further debt, has quietly raised $14 million in funding. The investment — which is pegged as a seed round and actually closed in January! — is led by Dutch investor Prime Ventures, with participation from angel investor Dominique Vidal (who is also a partner at Index Ventures). Pieter Welten, a partner at Prime Ventures, has taken a seat on Leavy’s board. Founded in 2017 by CEO…

This Is How Coworking Firms Go Bust

BISNOW

11/27/2019

WeWork’s finances have grabbed all the headlines, but while the U.S. giant was trying and failing to raise money in an IPO, two smaller UK coworking companies entered insolvency proceedings. One of them, The Clubhouse, has been bought by global giant IWG, which has taken over its four London sites. But the report by administrators at RSM into its demise paints a picture of how the company ended up in administration, and can serve as a cautionary tale for landlords when assessing the financial st…

Related, Block Capital sign deal with short-term rental operator

THEREALDEAL

11/27/2019

Short-term rental operator Domio is claiming its territory in Wynwood. The firm signed a deal to take over the residential component of the Related Group and Block Capital Group’s 175-unit project, The Real Deal has learned. Domio signed a lease for the apartments at The Bradley, a mixed-use project under construction at 51 Northwest 26th Street. Lenny Kravitz’s Kravitz Design is designing the amenity spaces and public areas. Arquitectonica is the architect. Domio competed against companies such…

Co-founder Chris Kelly to leave Convene

CRETech

11/26/2019

Convene’s co-founder is leaving. Chris Kelly, who also serves as vice chairman, will resign from the flexible office provider by the end of the year, according to Commercial Observer. He will still advise the startup. Convene has raised $260 million since its founding in 2009. Its backers include RXR Realty, the Durst Organization and Brookfield Asset Management. Kelly announced the decision Friday at a company meeting. He said he had been thinking about stepping down for years. The move signals…

Singapore launches AI strategy

SMARTCITIESWORLD

11/26/2019

Singapore has launched its National Artificial Intelligence (AI) Strategy to support a goal to become a global hub for developing, testing and scaling AI solutions. The strategy was formally announced at last week’s Smart City Expo World Congress (SCEWC) in Barcelona by Dr Vivian Balakrishnan, Minister-in-charge of the Smart Nation Initiative and Minister for Foreign Affairs, Republic of Singapore.“We believe that AI is a transformative technology. The fact that computers and systems can now see…

Altruist, a Los Angeles-based provider of an integrated digital brokerage platform for financial advisors, raised $8.5m in Series A funding round.

FINSMES

11/26/2019

Altruist, a Los Angeles-based provider of an integrated digital brokerage platform for financial advisors, raised $8.5m in Series A funding round. The round was led by Venrock. As part of the funding, Nick Beim will be joining the Altruist Board of Directors. The company intends to use the funds to continue to expadn operations and its development efforts. Led by CEO and founder Jason Wenk, Altruist provides a platform that offers advisors commission-free trading, fractional shares, the ability…

Entera Raises $7.5M in Funding

FINSMES

11/26/2019

Entera, a San Francisco, New York and Houston-based real estate technology platform that enables investors to access, make data driven decisions and purchase residential real estate, raised $7.5m in funding. The round was led by Bullpen Capital and Craft Ventures, with participation from ValueStream Ventures and Chris Heller, former CEO of Keller Williams and currently the Chief Real Estate Officer of OJO Labs. The company intends to use the funds to expand the reach of its technology platform, …

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Cashierless Amazon Go Plans Pop-Ups, Larger-Format Stores In 2020, Explores Licensing Deals

After WeWork, SoftBank’s Startup Bookkeeping Draws Scrutiny

Hospitality Influences Multifamily in a Big Way