Proptech VC Funding in 2022

The numbers are in — and they’re not promising. The volume of venture capital funding for proptech in 2022 was significantly down from 2021. And 2023 doesn’t look all that merry or bright. Also, jeweler Pandora is moving its headquarters between two Northeast cities.

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— Tom Acitelli, Co-Deputy Editor

Venture Capital Funding for Proptech Drops Sharply in 2022: ReportInsurance Market

Global venture capital funding for proptech companies dropped from $32 billion to $19.8 billion in 2022, a decline of 38 percent, according to a report issued Wednesday by the Center for Real Estate Technology & Innovation (CRETI) and shared exclusively with Commercial Observer’s PropTech Insider. The global funding falloff was due to factors such as a 40-year high in inflation, as well as spiking interest and mortgage rates, according to the report. The capital decline resulted in the second-lowest investment total since 2018. The investment news was best in the U.S., where entrepreneur-founders continued to receive the largest share of investments at 43.2 percent in 2022. The top five most heavily funded regions — the U.S., the European Union, the United Kingdom, India and South America — accounted for 77.5 percent of the investment.

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Pandora Moving North American Headquarters From Baltimore to NYC

Pandora put a ring on a deal to move its North American headquarters from Baltimore to Times Square. The Denmark-based jewelry company signed a 15-year lease for 27,936 square feet across the entire 35th floor of 1540 Broadway. Asking rent was $82 per square foot, according to the Post. While other large tenants have shed space at the Crossroads of the World in the past two years, Pandora will keep its nearly 90,000 square feet in Baltimore, expanding its North American office footprint with its Times Square deal. Pandora plans to move into 1540 Broadway next year and keep its downtown Baltimore offices at 250 West Pratt Street until 2026, according to an announcement from Pandora.

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