26-Apr-2021 | Real Estate and PropTech News Roundup
Good morning/afternoon/evening to all readers
For me, last week was super packed but highly productive (The best kind!) and hope you had a great week too.
From a news PoV, it was relatively quiet. Made my job today a lot easier :)
I will be publishing 1 more article by end of this week, so be on the look out for that!
Let’s jump right in -
Funding/IPO/SPAC:
SmartRent to go public via Fifth Wall SPAC
I have written about both these organizations and glad to see this happening. The smart home solutions company, post the merger, will have over $500M in it’s kitty to fuel further expansion.
Loft extends it’s Series D to $525M - Valued at $2.9B
Loft is the leading property listing platform in Brazil (Like Zillow in US or Magicbricks in India, etc.) and had earlier closed $425M in Series D in Mar-2021. The company announced an extension of the round last week. This is one of the largest fund raises in the Brazil startup world.
Stanza Living raised $100M in Series D
The coliving and rental management company raised the money from Falcon Edge (who are existing investors). This is a good raise, especially given the rental and hospitality industries in India took a hit due to the pandemic.
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Other Industry News and Articles:
Second Century Ventures (SCV) announces its cohort for Commercial Real Estate
SCV, one of the largest PropTech incubators and investors, announced their batch of 9 companies for it’s commercial cohort for 2021. The companies include tenant experience platforms, appraisal solutions, investment management products and more.
Hospitality is eating real estate
I enjoyed reading this thought piece by Matt Knight where he makes the case that operators and landlords need to move on from being a real estate provider (product) to being a experience provider (Blend of product + service). You should definitely read it too!
Hope this was useful! Have a great week :)