Latest Trends and Insights in Real Estate Technology

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  • SoftBank-Backed Oyo to Cut About 5,000 Jobs in Overhaul

    BLOOMBERG

    Oyo Hotels is cutting its global workforce by about 5,000 to 25,000 people, with the deepest reductions in China after business there crumbled in the wake of the coronavirus outbreak. The Indian startup, one of the largest in SoftBank Group Corp.’s portfolio, is reducing staff in China, the U.S. and its home country as it seeks to boost profitability. Oyo expanded rapidly after its founding in 2013 and reached a valuation of $10 billion, but investors have soured on money-losing businesses after…

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  • Proptech Startup Strata Raises $1.5 Mn From SAIF Partners, Mayfield India

    INC42

    Real estate investment platform Strata has raised $1.5 Mn funding in seed round led by SAIF Partners and Mayfield India. Real estate data analytics platform PropStack and three angel investors have also participated in the round. The Bengaluru-based proptech startup plans to use this funding to double its workforce to over 45 employees by hiring for tech and investor relations roles. Besides this, the company is also planning to expand to metros beyond Bengaluru and Mumbai, and also strengthen …

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  • The Rental Tour of the Future Through AR/VR

    GLOBEST

    SAN FRANCISCO—roOomy, a virtual staging, CGI and 3D modeling platform, is partnering with Toll Brothers Apartment Living to create a custom application for Magic Leap’s spatial computing device, Magic Leap 1. This partnership is a result of Magic Leap’s independent creator program, a grant-based initiative to give developers funding and support to create experiences on the Magic Leap 1, a lightweight wearable augmented reality/AR headset that blends digital and physical worlds. …

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  • SoftBank-Backed Oyo to Cut About 5,000 Jobs in Overhaul

    BLOOMBERG

    Oyo Hotels is cutting its global workforce by about 5,000 to 25,000 people, with the deepest reductions in China after business there crumbled in the wake of the coronavirus outbreak. The Indian startup, one of the largest in SoftBank Group Corp.’s portfolio, is reducing staff in China, the U.S. and its home country as it seeks to boost profitability. Oyo expanded rapidly after its founding in 2013 and reached a valuation of $10 billion, but investors have soured on money-losing businesses after…

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  • TrueHome snags US$8.8 million with Class 5 Global and monashees

    CONTXTO

    Mexican proptech TrueHome had been quiet about its latest equity raising, but the startup revealed today (8) that it raised US$8.8 million in a Series A round. Class 5 Global and monashees co-led the investment. They were joined by FJ Labs and Mountain Nazca. In the latter’s case, this is the second time it’s invested in the proptech. TrueHomehad previously raised a seed round for US$1.3 million with this Mexican venture capital (VC) firm.

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  • PlanRadar Raises Series A Funding Round Of €30 Million To Boost Digital Transformation In Construction And Real Estate

    CRETECH

    MARCH 2020, NEW YORK PlanRadar, Europe’s leading PropTech SaaS solution for digital documentation & communication in construction and real estate projects, has secured €30milion in Series A funding. The milestone deal comes at a time when the $10tn global industry’s productivity slump continues to stunt sector growth, with reports showing the potential for a massive $1.6tn in added value if properly modernised. This is a flagship deal for the German-speaking region in which the Viennese comp…

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  • Demand for flexible space transforming office markets

    JLL

    Tenant demand for more flexible space options is forcing a dramatic shift in the office market as building owners adapt to occupier needs. In the U.S., the flexible space sector has grown at an average annual rate of 23% since 2010. That compares with just 1% average annual occupancy growth in the broader office market. Industry giants WeWork and IWG control approximately half of the flexible space market by rentable building area, but there are many other flexible space operators worldwide….

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  • Five raises $41 million to commercialize its self-driving technology

    VENTUREBEAT

    Five has raised $41 million in venture capital as the startup seeks to turn the self-driving research it has conducted into commercial products and services. The U.K.-based startup has created a technology stack to power autonomous vehicles. The company uses AI and machine learning that would let cars use simpler maps to navigate their surroundings. By reducing the complexity of the technological challenges, the company hopes to accelerate the deployment of autonomous vehicles.

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  • Airbnb-backed Lyric lays off 20% of staff

    THEREALDEAL

    The San Francisco-based company, which partners with multifamily landlords to offer apartments to business travelers, laid off at least 25 of its 120 staffers on February 5 amid a “downsizing and restructuring” whereby it also plans to close nearly 200 units nationwide, sources said.

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  • CREtech Weekly PropTech Venture Capital Funding Recap

    CRETECH

    DRIVING HEADLINES This week in real estate tech witnessed several mega-rounds in the U.S. and China. In addition to the sudden rise in the total funding amount and dollar volume, the total deal volume also increased this week and was spread across different cities, globally. The more notable rounds of capital went to real estate brokerage platforms, autonomous vehicles and smart home technologies.  The largest announced mega-round went to Beike, a Chinese real estate brokerage platform also …

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