Proptech VC Funding Down 77 Percent Annually
First-quarter funding plummeted from $6.97 billion in 2022 to $1.69 billion in 2023.
Source: commercialobserver.com
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Scott Rechler, RXR Realty to Raise $250M Proptech SPAC
Beyond its bricks-and-mortar holdings, RXR has been one of several real estate players to invest in proptech in recent years. According to regulatory filings, RXR Digital has backed 10 proptech companies, including smart-lock maker Latch, which plans to go public via Tishman Speyer’s SPAC. It also invested in Metropolis, a parking startup; VTS, a lease management platform; Kitchen United, a ghost kitchen startup; and Eden, an office management firm which purchased Managed by Q from WeWork. Not all investments have panned out, though. RXR invested in Lyric, a short-term rental startup backed...
Source: therealdeal.com