Real estate technology investor Taronga Ventures has singled out 10 ‘realtech’ startups for its second RealTechX innovation program.
RealTechX launched last year to support emerging technology startups in the real estate sector and broader built environment and has already attracted more than 300 applications from 25 countries hoping to take part in the program.
This year’s startups focus on energy sustainability, digital visualisation, industry data platforms, novel construction and asset management solutions.
Last year 12 companies joined the inaugural program, which collaborates with some of the region’s leading properties companies including Dexus, Lendlease andAustralian Unity to focus on solutions to industry problems. CBRE, Core Logic and International Towers at Barangaroo – the home of Startup Daily and ausbiz.com.au – have joined the corporate partner network for the 2021 cohort. The program also has support from the Australian government and university sector, as well as the startup programs from tech giants Amazon, Microsoft, IBM and Google.
The corporate partners participate in the selection process for RealTechX and there’s a possibility of subsequent investment from Taronga Ventures.
RealTechX program director Julian Kezelman said the ideas in the new cohort showed depth and unique solutions.
“It is clear that the realtech sector is coming of age – moving beyond simple apps and platforms that optimise existing practices to genuinely transformational technologies,” he said.
Taronga Ventures managing partner Avi Naidu said the property sector was embracing the need for innovation after 2020’s disruption.
“The Covid-19 period has caused dramatic shifts in the real estate sector, driving owners and operators of assets to reimagine how buildings will be used in the future,” he said.
“Real estate executives are now convinced that innovation and technology has a central role to play in building robust and differentiated portfolios.”
The 10 startups are:
Allume: Enabling a single rooftop solar system to be shared between multiple apartments or commercial tenants
Darabase: Software allowing property owners to monitor, manage and serve augmented reality content on their buildings
Inspace: Platform that enables people to virtually ‘walk-through’ properties, whether they are already built or not
Omnyfy: Software for retail asset owners to rapidly launch and manage multi-vendor eCommerce marketplaces
Portt: Software transforming sourcing activities and supplier contracts into strategic business assets and outcomes
Propella.ai: Facilitating better location-based decisions using big data, statistical analysis and artificial intelligence
Qualis Flow: Digital capture of materials and waste data on construction sites for compliance and sustainability
SPACECUBE: Design and development of modular infrastructure that is quick to deploy, relocatable and customisable
Trendspek: 3D models and drone-captured data for asset and operations managers to ensure real-time asset insights
Valen Energy: Vertical solar energy generation poles used to power lighting, security, cell towers and remote IoT applications