Propcorn, a pioneering AI-powered search engine for the property trade, introduced the completion of its €600k pre-seed funding spherical. The financing spherical was led by Austrian enterprise angel Hansi Hansmann and his Hans(wo)males Group. The investor consortium was complemented by Calm/Storm, and Weilburg Ventures, the start-up funding arm of the Weilburg Household Workplace.
Propcorn focuses on figuring out redensification and new construct potential and makes use of Synthetic Intelligence to optimise city improvement and property funding.The corporate plans to make use of this backing to alter the proptech panorama for good.
The Austrian proptech was based in early 2024 by Niki Stadler (CEO), Benjamin Buchta (CPO) and Bertty Contreras (CTO). Collectively, they’re pursuing the aim of redefining using know-how within the property sector.
“We’re thrilled to have such prestigious traders on our facet who share our imaginative and prescient to remodel the property trade,” stated Niki Stadler, Founder and CEO of Propcorn. “With this funding, we are going to speed up our product improvement and convey our AI-powered search engine to market in order that city planners, builders and traders can uncover new alternatives with unprecedented effectivity and accuracy.”
Optimising property portfolios
Propcorn’s platform will go reside in September 2024 and affords all customers a free trial interval. The service will present property professionals with a strong device to establish underutilized land and optimize property portfolios, making the method of city planning and funding quicker and extra data-driven.
“The founding workforce has recognized a key ache level within the property trade and is ideally positioned to unravel it with the assistance of its AI-driven platform. We’re delighted to be a part of this,” commented Hansi Hansmann, Enterprise Angel and Chairman of the Hans(wo)males Group.
The financing spherical was legally supported by RPCK Rastegar Panchal Rechtsanwälte Keyvan & Katharina Rastegar. Propcorn is certainly one of Austria’s first FlexCo start-ups, demonstrating its modern strategy not solely by way of know-how, but additionally by way of trendy company constructions, corresponding to worker participation by the doable allocation of tax-privileged enterprise worth shares (UWA).
Lucanus Polagnoli, Founding Accomplice and CEO at Calm/Storm Ventures, added: “We’re happy to help Propcorn’s mission with our Austrian Founders Fund, not solely as a result of we imagine within the founding workforce, but additionally as a result of we see the ever-increasing strategic significance of AI-driven applied sciences. We imagine that this improvement will have an effect on all industries, particularly the property sector.”
Sebastian Scholda, Managing Director at Weilburg Ventures, stated: “Propcorn solves the issues of many market members within the property trade in an environment friendly approach. Along with property traders, for whom Propcorn gives a strong device with its modern strategy, Propcorn can be revolutionizing city improvement and concrete planning. Propcorn’s options can counteract the more and more criticized challenge of ‘soil sealing’ specifically, as redensification may be assessed rather more simply and rapidly. This variety and sensible relevance had been decisive components in our funding.”