BuiltAI, a London-based real estate intelligence platform, has secured £2 million in seed funding. The investment round was led by former Apple/DataTiger executives Philipp Mohr and Puli Liyanagama and supported by MMC Ventures (which backed RPA Supervisor and YuLife), Plug and Play and an InnovateUK Smart Grant.
The new funds will fuel BuiltAI’s R&D and product growth, including furthering its AI geospatial analytics and extending its customer acquisition in the UK and Europe.
Firoz Noordeen, co-founder of Built AI, said, “Until now, analysing the returns of potential commercial real estate deals has been flawed due to the lack of transparent data available. With the help of this new investment, we can bring the real estate industry into the Google/Deepmind age, using sophisticated machine learning capabilities to fundamentally alter how property investments are evaluated and boost the rate of alpha returns.”
Andrei Dvornic at MMC Ventures added, “MMC is thrilled to be partnering with BuiltAI in its quest to apply state of the art machine learning to enable unprecedented levels of transparency in the real estate market. The team is building category-defining real estate data infrastructure, transforming sparse data sets into granular, precise insights supercharging both transactions and asset management.“
Taps into $1.6T market in UK
The UK’s $1.6 trillion commercial property market is witnessing an increased demand for real-estate assets. The significant shifts in the commercial real estate market are making it harder for property firms, funds and landlords to generate Alpha returns. Also, there is a lack of data transparency in the commercial property sector means that Built AI aims to resolve.
Its AI platform can improve players’ information about new markets and broader consumer trends that would unlock hefty returns on future deals. BuiltAI is touted to develop the first AI-powered digital twin of the UK’s commercial real estate market.
The deep tech startup focusing on the commercial real estate market is building its ground-breaking geospatial analytics platform. Its AI inference technology that delivers radical transparency to the commercial real estate market in order to inform better, quicker investment decisions by players in the market.
AI proprietary algorithms
BuiltAI was founded by Firoz Noordeen, former director of Natwest Ventures; Natan Lempert, former real estate investment professional from Benson Elliot; and Jeffrey Ng, former CTO of Benevolent AI and CSO at Founders Factory.
BuiltAI is the first to build the richest, most accurate AI-augmented dataset on UK commercial real estate using the latest in machine learning capabilities. Built AI’s proprietary algorithms can create granular ‘street level’ insights on any property and location from sparsely-populated and disparate datasets that are pervasive in the industry.
Its vision is to create a ‘live’ digital snapshot of the country’s real estate assets that can be used to virtually model investment scenarios across entire portfolios.