Specialist PropTech investors see opportunity in AI-based technology
Surplus Invest announce that they have made an investment in PRODA, the London-based PropTech startup utilising artificial intelligence (AI) technology to solve core data processing challenges in real estate.
Alongside funding to enable PRODA to scale, Surplus will provide expertise and access to their strong real estate network. The German-based VC was founded in 2016 and initially invested in B2B software as a service (SaaS) solutions across industries, before shifting focus to PropTech.
PRODA harnesses the power of AI to unlock the true value of data by enabling users to capture, consolidate and standardise data, with a focus on rent roll data. The technology, which is targeted at asset managers, real estate lenders and investment brokers, as well PropTech platforms handling rent roll data, aims to automate previously manual and error-prone processes.
Jannis Roser, Managing Partner at Surplus Invest said: “PRODA is tackling a fundamental problem when it comes so efficient data and software use. We believe that due to the great technology and the outstanding founder team PRODA is able to develop a new benchmark in their field of operation. We are proud to welcome Proda to our portfolio.
Peter Bredthauer, CEO and co-founder at PRODA, said: “With their real estate and technology heritage, Surplus are a great fit for PRODA. We believe that PRODA can become a foundational tool to support more efficient data and software use across commercial real estate and PropTech. This investment enables us to really accelerate development and move towards our goal.”