Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
Biz Journals
LENX, the corporate venture arm of homebuilding giant Lennar, led the raise for HomePace, which says it allows people to “easily access their home equity without taking on additional debt or interest payments.” Homeowners can receive up to $250,000 in cash.
TechCrunch
Sumutasu, a Tokyo-based proptech startup that offers a direct online real estate purchase service, has secured $8.2 million in equity and $1.6 million in debt. The company has raised a total of $16 million since its 2018 inception. …
Bisnow
LoopNet, the commercial real estate platform acquired by CoStar Group in 2013, which bills itself as the sector’s most trafficked online platform, has a new leader from another CoStar acquisition.
Crunchbase
Reviewing aftermarket performance of venture-backed companies that went public via SPAC lately feels a lot like watching one of those documentaries exploring the Mariana Trench.
finLedger
Gravy, a proptech startup that helps renters become homeowners, announced today that it is launching out of beta and raising a $2.6 million seed round, according to a press release shared with FinLedger.
Bisnow
The hype around investment in the metaverse — the evolving and still somewhat nebulous collection of virtual online spaces proponents say is the future of gaming, shopping and human interaction — has created a boom in virtual land sales on different platforms.
Tech Funding News
Plug and Play, the global corporate innovation partner and prolific early-stage investor is today announcing its launch in the UK. This move indicates the significant growth in interest in UK tech from the world’s leading technological hub.
Axios
The “mass timber” movement is a growing worldwide effort to build high-rises and other buildings out of wood composites rather than steel and concrete, for environmental reasons.
Crunchbase
A year ago, startup founders often found themselves fought over by venture investors eager to grab a piece of any promising young company with fast growth potential. Investors competed in an increasingly heated environment in which they were often under pressure to close outsized deals in a matter of days. All told, venture capitalists spent a record $643 billion in 2021, almost double what they had the year before.
The Real Deal
While Katerra floundered, its executives diverted the firm’s business to their other companies and used its funds for private jet rides and basketball games, according to a new lawsuit.
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