CREtech Weekly PropTech Venture Capital Funding Recap
This week was a relatively slow week in in real estate tech venture capital, with multiple deals in insurance, construction and investment management technologies. The largest deals took place in the insurtech and lease process management categories.
In Europe, wefox Group, the Berlin-based insurtech company, has boosted its Series B to $235M after closing an additional $110 million. In the US, States Title, a San Francisco based company that uses machine intelligence to create seamless title and escrow processes, raised $100 million Series C venture funding from undisclosed investors.
Other deals were spread across a variety of proptech subcategories. PrecisionHawk, a Raleigh-based drone tech start up, raised $32 million to help the commercial drone industry get off the ground. Investors in the round included Millennium Technology Value Partners, Third Point Ventures, Eastward Capital Partners, and others. British Pearl, a London-based developer of a property investment platform, launched a crowdfunding round last month and had raised £804,000 (USD$ 1,046,269) as of 12 December. Levelset, a New Orleans-based money management and payment startup for contractors in the construction industry, raised $30 million in financing from Horizons Ventures, the investment firm backed by Li Ka-shing, who is one of the world’s wealthiest billionaire property developers. Finally HqO, a Boston-based landlord-tenant engagement company, has raised $34.2M in Series B funding.
What does this all mean?
This week witnessed a slowdown both in deal volume and size in real estate tech. The slowdown doesn't come as a suprise as December is a time where most markets slow down and wrap up the previous year. Another big takeaway from this week's funding recap is also the variety of deals across different countries and categories, which included insurance construction, investment management and drone technologies.
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