Last year VCs invested $19.8 billion into these property-technology, or proptech, startups.In 2022, the surging proptech industry ran headlong into a period of high interest rates and prospects of an economic slowdown, chilling growth in a sector that had fed off hot real-estate and tech markets for more than a decade., from $32 billion to $19.8 billion. Startups had to reckon with lower valuations, stingier checks from venture capitalists, and greater uncertainty surrounding public offerings.
Climatetech and AI-powered tools are major themes of the proptech industry in 2023, just as they are in the wider venture world. Venture investors are looking for companies that can help improve housing affordability and serve the growing ranks of investors that need to manage properties and relationships with tenants.
And while commercial real estate undoubtedly faces more trouble ahead, institutional landlords need to keep track of their existing deals and plan new ones, with the help of tools from elite software to cellphone location data. Proptechs are there for that. Insider asked more than 20 venture investors who focus on real-estate and construction technology to nominate the most exciting proptech startups in 2023.
We relied on the companies' self-reported fundraising numbers but used PitchBook data as a supplement for firms that declined to comment.Carsten H. Westergaard, Aeromine's chief technology officer, founder, and inventor; David Asarnow, its CEO and cofounder; and Martin Manniche, its cofounder.
how is fractionalapp on the list while ArrivedHomes isn't. lazy journalism