Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
Bloomberg
A startup that lets building owners cut their carbon footprint without buying expensive equipment has raised $156.5 million from backers including a major real estate services company and one of Europe’s largest utilities. Redaptive Inc. has now raised more than $181 million to date.
Proxyclick
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PlaceTech.
Tech investor Oded Eliashiv shares his pick from his stable of startups. With Covid-19 continuing to impact the property world, a number of innovative Israeli proptech companies are developing creative ways to assist building owners, managers, and agents during these difficult times. According to IVC Research Center, there are approximately 8,300 active startups in Israel. These include a growing number of proptech companies, some of which are already active in the European market….
Wall Street Journal
What if you can make something with fewer greenhouse-gas emissions than your competitors, but get no financial benefit? It’s a business problem Gregory Barker is trying to solve. Mr. Barker is the executive chairman of En+ Group PLC, the world’s largest aluminum maker outside China. It uses hydroelectricity to power smelters in Siberia that make aluminum with one-fifth the emissions of rivals in China burning coal.
Crunchbase
Redaptive, an Efficiency-as-a-Service tool for commercial and industrial customers, secured $150 million in private placement funding after raising $6.5 million earlier this year.
Sapphire Ventures
The global payments market is enormous. The industry is $240 trillion in size, which is larger than the global GDP of roughly $85 trillion*. Over the past decade, startups and established players have capitalized on this opportunity by modernizing the payment process for consumers. But the business-to-business payments space, which is actually much larger than consumer payments, remains antiquated and ripe for disruption.
Housingwire
Opendoor has officially filed its announcement to go public after announcing its merger with Social Capital Hedosophia Holdings Corp. II in September. But the filing also revealed that Opendoor is under investigation by the Federal Trade Commission over its advertising practices. According to the filing, Opendoor in 2019 received a civil investigative demand….
Wall Street Journal
Real-estate investors have a mountain of money looking for a home. Lately a lot of it is ending up in suburban single-family houses. Invitation Homes Inc., INVH 1.44% the country’s largest rental-home owner, on Wednesday disclosed a joint venture with Boston property investor Rockpoint Group LLC that will result in more than $1 billion for the landlord’s ongoing house hunt….
Prescriptive Data
Prescriptive Data, a privately-held smart building technology company focused on using artificial intelligence to optimize tenant comfort and decrease carbon emissions, announced yesterday that KPMG LLP (KPMG) has selected its flagship building operating system, Nantum OS, to be deployed as part of its new patent-pending blockchain capability, Climate Accounting Infrastructure (CAI).
The Real Deal
Newmark was not interested in the deal, in part because Cushman carries a high debt load, sources with knowledge of the offer told Bloomberg News. Cushman has about $3.8 billion in debt, which is larger than its market capitalization of roughly $2.6 billion.
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