Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
GLOBEST
A few years ago, Bill Gates has announced plans to build a smart city outside of Buckeye in Arizona. Through his subsidiary Mt. Lemmon Holdings, the billionaire spent $80 million to purchase more than 24,000 acres of land with plans to build a smart city, which will include housing, schools, offices and retail. Since the purchase, there has been limited information on the development of the project.
PLACETECH
The startup dedicated to empowering all people with smartphone-based identity signals for universal access, has launched a reader so small it can be installed behind existing access card readers in less than five minutes, making it quick and inexpensive for companies to provide employees, tenants, and visitors with smartphone-based building access with zero impact to existing security systems. Before now, companies that wanted to enable smartphone-based building access had to replace their exist…
WSJ
Are new factory technologies replacing human workers or are they giving them extra abilities so they can focus more on what makes humans irreplaceable in plants? A look at the latest crop of technologies transforming factories suggests the answer is both—at least for now. • Some new tools, including wearable devices and sensors, are helping employees work more safely and efficiently. But others are designed to slash labor costs, such as having machines—unassisted by any human—make parts overnigh…
COINDESK
According to Red Swan CEO Ed Nwokedi, $780 million of that is available to investors in pre-sale, while the company has another $4 billion in real estate in its tokenization pipeline. The $2.2 billion represents 16 different Class A commercial properties based in Austin and Houston, Texas, Brooklyn, N.Y., Oakland, Calif., and Ontario, Canada. Tokenization has struggled to transform the multitrillion-dollar real estate market as institutions hesitate to re-engineer back offices until the…
TECHEU
Proptech investment fund PropTech1 Ventures has put together a solid research report on – surprise – proptech. More specifically, the firm is today releasing an analysis of the European proptech landscape, examining trends and key market developments in this growing space. The report, which you can download free of charge here, shows that the sector is showing consistent signs of growth over the past few years despite its relatively early stages of development in Europe….
GLOBEST
NEW YORK CITY- Flexible workplace provider Convene has partnered with work experience platform provider Lane to launch a strategic partnership. Convene will become an investor in Lane to further the Toronto-based company’s interests in the U.S., and Lane will promote Convene as its partner of choice for amenity-rich and flexible workplaces. …
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…
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 …
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. …
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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