BuiltAI raises £2m to deliver first-of-its kind big-data transparency to the UK's commercial real estate
Spotting the next ‘big thing’ in the UK’s $1.6 trillion commercial property market is no mean feat. Rising to the challenge, deeptech company BuiltAI has closed a £2 million seed round for its ground-breaking geospatial analytics platform.
Increased demand for real-estate assets and significant shifts in the commercial real estate market are making it harder for property firms, funds and landlords to generate Alpha returns. At the same time, the severe lack of data transparency in the commercial property sector means that BuiltAI’s platform can improve players’ information about new markets and broader consumer trends that would unlock hefty returns on future deals.
BuiltAI is the first to build the richest, most accurate AI-augmented dataset on UK commercial real estate using the latest in machine learning capabilities. Built AI’s proprietary algorithms can create granular ‘street level’ insights on any property and location from sparsely-populated and disparate datasets that are pervasive in the industry. Built AI’s vision is to create a ‘live’ digital snapshot of the country's real estate assets that can be used to virtually model investment scenarios across entire portfolios.
“We want to fundamentally alter how property investments are evaluated. Using the very latest machine learning, we combine financial modelling and granular data analytics to deliver the optimal assumptions for any deal plan.”Firoz Noordeen, Co-Founder, BuiltAI
“MMC is thrilled to be partnering with BuiltAI. The team is building category-defining real estate data infrastructure, transforming sparse data sets into granular, precise insights supercharging both transactions and asset management.”Andrei Dvornic, MMC Ventures
The new funds will fuel BuiltAI’s R&D and product growth - including furthering its AI geospatial analytics and extending its customer acquisition in the UK and Europe.
For more on information, read this article by TechCrunch.