CEO Brendan Wallace said the new fund will focus on proptech firms looking to save energy in the data center sector.
Shifting federal policy and interest rates have prompted one of the most prominent VC firms in the proptech and climate sectors to pull back.
Building owners often approach technology in a piecemeal manner, resulting in proptech tools that perform as advertised but don’t communicate with each other.
Proptech is being buoyed by the AI hype, but analysts don’t believe the rise in fundraising will contribute to a bubble.
EliseAI's latest funding round was led by a16z, with support from Bessemer Venture Partners, Sapphire Ventures and Navitas Capital.
Investors have ramped up investment in proptech, with a focus on AI-powered tools.
Investment in artificial intelligence-centered proptech companies grew at almost double non-AI companies' growth rate of 24%, according to PitchBook data.
New York-based Cadastral announced Thursday it had raised $9.5M for the development of its proptech platform and tools.
Anthropic and OpenAI’s new multibillion‑dollar ventures seek to replace enterprise software with their own AI tools.
During April, May and June, proptech funding totaled just under $1.3B, down from $3B during the same time last year.
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