The frozen housing market meant tough times for the proptech — or property technology — industry.
As the market starts to thaw, however, things are looking up for firms that seek to use technology to digitize, automate, or otherwise improve legacy processes in the worlds of residential and commercial real estate.
Business Insider asked 10 venture-capital investors who focus on real-estate and construction technology to nominate the most exciting, promising, and talked-about proptech startups in 2024.
In the first half of 2024, venture funding for proptech companies dropped 14.3% from the same period a year prior. Funding totaled $4.37 billion, down from $5.1 billion during the same period in 2023 and dramatically less than the $13.13 billion invested in the first six months of 2022, according to CRETI · Center for Real Estate Technology & Innovation, which surveyed 1,088 proptech startups.
Certain niches, however, hold promise. In 2024, VC investments in AI-powered proptech companies reached a record $3.2 billion, CRETI reported earlier this month.
Read about 20 of the buzziest proptech companies in 2024: https://lnkd.in/eXyfyiDN
(Credit: HoneyHomes; Tour24; Metropolis)
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