“Data is the new oil.”– Debbie Gamble
Powered by Techstars, and based in Toronto, the Colliers PropTech accelerator had its 2019 demo day showcasing a number of up-and-coming companies attempting to modernize the $200+ trillion asset class. There were products in multiple categories that leverage the capabilities of today’s technology; Machine Learning, Artificial Intelligence, Automated Valuation, Blockchain, Smart Homes, all with promising potential.
There are an estimated 5,000 proptech startups globally, signalling a shift of the tide in an evolving industry, considering this is the single largest asset class, with ultimately the largest opportunities. These were some of the companies that stood out:
- RealAR: “Augmented Real Estate at scale.”
- Skenario: “We predict the value and risks in properties using data and AI on both residential and commercial real estate.”
- Arex: “We use blockchain & artificial intelligence to digitalise, manage and close complex real estate transactions.”
- Bred: “Pioneering the Real Estate industry by bridging the gap between Digital and Traditional markets.”
- PropertyQuants: “Comprehensive Global Real Estate Database.”
Data and transparency are now integral to all aspects of real estate, and status quo is not an option. VC funding in this category is on the rise, and it has never been more important to have “network” as your special sauce.