Several major commercial real estate companies have ponied up to back a New York-based artificial intelligence company's efforts to expand its CRE platform.

New York-based Cadastral announced Thursday it had raised $9.5M from Navitas Capital, JLL Spark Global Ventures, AvalonBay, Equity Residential and 1Sharpe to accelerate product development and further build out its AI platform.

Cadastral said it is seeking to develop an "AI analyst in a box" and its platform is curated specifically for commercial real estate data, documents and processes. The platform creates tools and AI agents that can analyze and comb through lease abstractions, as well as loan compliance, acquisition due diligence and underwriting documents.

The proptech company has grown to service over 40 customers since the launch of its flagship platform in late 2025.

Investors poured approximately $1.7B into the proptech sector in January, according to CRETI. Total investment in the space was 176% higher than it was the same month last year, with only a slight increase in deal count.

The industry is expected to see continued growth in the coming months. In 2025, JLL Spark, which invests in real estate technology companies, found that 700 of the 7,000 global proptech firms it tracks are using AI as part of their tech stack.

Earlier this month, AI startup Bedrock raised $270M from Big Tech companies, including Nvidia and Alphabet. The company is now valued at $1.7B. AI startup Visitt raised $22M in Series B funding in January.