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BuiltAI Secures £ 2m Investment From Investors Including MMC Ventures – UK Technology Investment News

Identifying the next “big thing” in the UK’s $ 1.6 trillion commercial real estate market is no small feat. Accepting the challenge, Built AI, the artificial intelligence platform for the commercial real estate market, closed an initial £ 2 million round for its groundbreaking geospatial analytics platform. The deeptech company is developing an AI-based inference technology that offers radical transparency to the commercial real estate market in order to inform the best and quickest investment decisions by market players.

Rising demand for real estate assets and significant shifts in the commercial real estate market are making it harder for real estate companies, funds and property owners to generate Alpha returns. At the same time, the serious lack of data transparency in the commercial real estate industry means that the Built AI platform can improve player insights into new markets and broader consumer trends that would unlock strong returns on future offerings.

BuiltAI is the first to create the richest and most accurate AI-powered commercial property data set in the UK using the latest machine learning capabilities. The proprietary algorithms of the developed AI can create granular “street-level” insights into 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.

The £ 2 million seed round was led by former Apple / DataTiger executives Philipp Mohr and Puli Liyanagama and supported by MMC Ventures, Plug and Play and InnovateUK Smart Grant. The new funds will fuel BuiltAI’s research and development and product growth, including the enhancement of its AI geospatial analytics and the extension of customer acquisition in the UK and Europe.

Firoz Noordeen, co-founder of Built AI, said: “So far, the yield analysis of potential commercial real estate deals has been flawed due to a lack of transparent data available. With the help of this new investment, we can bring the real estate in the Google / Deepmind era, using sophisticated machine learning capabilities to fundamentally change the way real estate investments are valued and increase the alpha rate of return. “

Andrei Dvornic of MMC Ventures added, “MMC is excited to partner with BuiltAI in its quest to apply cutting-edge machine learning to enable unprecedented levels of transparency in the real estate market. The team is building a real estate data infrastructure that defines the category, transforming scattered datasets into insights and insights that enhance both transactions and asset management. “

BuiltAI, born out of Founder Factory’s venture capital firm, is working with a number of clients who have already analyzed over £ 2bn of real estate assets. These include a partnership with Deutsche Finance International, the owners of London Olympia and Europi Property Group. There are plans to grow further throughout the year.

BuiltAI brings together the best talent from the world of data science, technology and real estate. It is led by Firoz Noordeen, former director of Natwest Ventures, Natan Lempert, former real estate investment professional at Benson Elliot, and Jeffrey Ng, former CTO of Benevolent AI and CSO at Founders Factory.

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Information on the AI ​​built

BuiltAI is the AI ​​platform for the commercial real estate market. It is the first to build the richest and most accurate AI-powered commercial property dataset in the UK which it uses to create granular ‘street-level’ insights into any property and location. 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.

BuiltAI is led by Firoz Noordeen, former director of Natwest Ventures, Natan Lempert, former real estate investment professional at Benson Elliot, and Jeffrey Ng, former CTO of Benevolent AI and CSO at Founders Factory.

About MMC Ventures

MMC funds and helps grow the tech companies that are transforming today’s markets. It has supported transformative technology companies from the Seed and Series A phase since 2000. MMC is committed to a deep understanding of the technology and business model behind each company to help make better decisions and be more effective partners.

Transformative technology companies that MMC has supported to date include Ably, Copper, Gousto, Snowplow, Interactive Investor, Brightpearl, Current Health, Synthesia, Signal AI, Bloom & Wild and Peak. Explore MMC research and other useful information on www.mmc.vc

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BuiltAI Secures £ 2m Investment From Investors Including MMC Ventures – UK Technology Investment News

Source link BuiltAI Secures £ 2m Investment From Investors Including MMC Ventures – UK Technology Investment News

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