CREtech Weekly PropTech Venture Capital Funding Recap
This week witnessed several relatively large deals across a variety of countries, where deals in Morocco, Germany, the UK and North America dominated headlines. The majority of this week’s capital went to companies that aim to transform the hospitality, retail and residential categories through AI, SaaS, cloud and other technology platforms.
The largest round went to SiteMinder, an Australian software company focused on the hotel industry. SiteMinder announced a $70M (USD) round on January 16th that valued the company at $750M. In California, Homebound, a company that provides home-building services, raised $35M in a round led by Fifth Wall Ventures on January 17th, bringing the San Francisco-based company's valuation to $210M. Homebound is currently focusing on areas recovering from natural disasters. Life House, a US based tech-enabled lifestyle hotel company, announced yesterday the closing of a $30 million Series B round. Soft Robotics, a US-based robotics startup company, has closed its Series B round of funding, raising $23M led by Calibrate Ventures and Material Impact. Finally, Planet Smart City, a London based provider of smart affordable housing, secured £20.5M funding from existing and new investors, taking the total amount raised since the company’s inception to €100M.
Other relatively smaller deals and acquisitions took place in Europe, Africa and North America. Home, the Berlin-based startup that set out offering an app to help landlords manage rentals but has since pivoted to solve the landlord-tenant problem more directly, has raised $12.2M (€11M) in Series A funding. On January 22nd, Placer.ai, a San Francisco based developer of a SaaS platform that provides real-time access to location analytics and foot-traffic data for retail and hospitality businesses, raised $12M in its Series A round of funding. In the UK, mortgage broker Trussle has secured $8.3 (£7.5M) in a Series C funding round from Rabobank and Goldman Sachs. The latest round brings Trussle’s total funding to date up to $29.3M (£26.5M). In Africa, Mubawab, a Morocco based developer of an online platform for buying and renting real estate, has raised $7M in funding to accelerate its growth. TestFit Inc., a Dallas-based building configuration software leveraging practical generative design, announced on January 16th that it has secured $2M in seed funding from Parkway Venture Capital LLC. Finally, HousingAnywhere, a Netherlands-based housing platform, acquired Studenten WG, a Germany based classifieds website for an undisclosed amount.
What does this all mean?
Global news dominated headlines this week, where deal sizes ranged greatly, between $2 to $70 million. In addition to the increased global activity in proptech deals, another big takeaway from this week's funding recap was the variety of proptech categories, which included companies that leverage AI, cloud and robotics to transform the retail, hospitality and residential categories.
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