Monday, June 27, 2022

Real Estate Incubator EGX Wants to Put $100M in Proptech Startups

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EG managed real estate fund plans to raise $100M for its proptech incubator EGXas it looks set to transform the real estate and real estate industry.

Launched last year, EGX already has a $100 million portfolio investment and has supported three startups, WillowTo reveal and FLNT

EGX offers Seed and Series A funding to founders with global ambitions. The incubator is particularly interested in areas such as digital twins, the Internet of Things (IoT), artificial intelligence (AI), data analytics, sustainability technology, and more.

Sangeeta Venkatesan, executive director of EGX, said the incubator will raise another $100 million over the next two years, in addition to plans to expand into fintech.

“We’ve already received incredible interest from outside investors, especially as some of our portfolio investment companies are on their way to becoming global proptech players,” she said.

“The potential for returns in these high-growth market segments is great, and our role at EGX is to multiply the impact of investor ROI.”

EG CEO Adam Geha, CEO EGX’s goal is to scale startups into high-performing, global companies, with the commitment to take them all the way to their IPO.

“The real estate and real estate sector is ripe for disruption. As a real estate fund manager, EG is constantly innovating to deliver the best risk-adjusted returns for our investors and that clearly involves deploying industry-leading technology,” he said.

“That’s why we launched EGX. It is here to fuel the future of proptech and help solve tomorrow’s challenges for the entire industry. We are closing a gap in the collaboration between industry expertise and entrepreneurs.”

Of the three startups already supported, Willow is an Australia-based startup that empowers asset owners and operators to make proactive, data-driven decisions in real-time to increase profits, reduce costs and better manage risk. using digital twin technology. The company has already raised $58 million and is expanding globally.

Reveal is a New Zealand startup helping cities and engineering firms look deeper by building digital twins that provide digital, accurate maps for underground infrastructure and enable a future that is more accessible, reliable and connected.

FLNT is a marketplace that offers information about commercial real estate. It collects and maps a large number of internal and external datasets into one data lake in the cloud, allowing the user to quickly search, subscribe, visualize and analyze data.

More about EGX is available at:

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