MetaProp, the New York City-based property technology (proptech) early stage venture capital firm and tech growth accelerator announced it’s investing $1.5 million in a number of real estate-related startups.
In addition to $250,000 of investment each, the companies chosen will receive mentorship and access to a number of services through MetaProp’s new accelerator, Consortium, sponsored by real estate and other industry companies.
“This accelerator cohort arose from what was the most competitive application season we have had,” said Leila Collins, a senior associate and the leader of MetaProp’s global acceleration, in a release. “I think it is a reflection of how quickly the worldwide market is growing. Construction and residential are two areas where we have seen the most growth.”
The companies were selected from an international pool of applicants, according to the release, and are looking to solve big problems in interesting and challenging areas of PropTech, including smart cities, residential brokerage, tenant advocacy and sustainability.
The participants selected, from hundreds of applicants, are:
- Reasi, a Los Angeles based online real estate escrow service that provides, “a secure and seamless home-closing experience.” The startup aims to eliminate escrow costs and support the transaction from offer to close using its blockchain platform.
- LiveBy, a Nebraska-based hyperlocal data company that empowers real estate professionals to showcase their area expertise and build neighborhood guides and market reports for their websites.
- Avvir, a New York City-based startup that allows builders to conduct laser scans of construction sites to identify errors, monitor progress and create a digital blueprint to manage smart buildings.
- Jabbrrbox, a New York City-based workplace solutions company aims to bring work privacy to commercial and public spaces. The product looks like a phone booth operating as a tech-enabled workspace that can be reserved from a smartphone app, for workers on the go.
- Aegis AI, a Chicago-based computer software company that employs artificial intelligence to automatically identify firearms in security camera footage and notify law enforcement.
- Furnishr, a Toronto-based homer furnishing platform that designs, sources, delivers and furnishes a home in just one day.
Each participant, over the course of the 22-week program, will meet with new mentors and attend various events with a deeper focus on fundraising. The program includes a midterm trip to San Francisco for additional fundraising.
Participants will have access to all of MetaProp’s advisory services during the program, which includes strategy, fundraising, media and public relations, in-house recruiting, business development, sales and marketing. They will also have access to corporate program partners and goods and services valued at more than $200,000.
MetaProp’s sponsors for the accelerator, which will be conducted in their Manhattan offices and at Columbia University, are: Comcast machineQ, Cushman & Wakefield, First Republic Bank, Fox Rothschild and Inmobiliaria Colonial. The sponsors will have the opportunity to connect with other proptech organizations and have access into the selection process as well as mentor and pilot the chose startups.
In June, MetaProp announced a new $40 million investment fund for early-stage proptech startups. In the past, the venture capital firm has invested in the insurance startup Jetty, the commercial appraisal firm Bowery, the title company Spruce and the property and parking management data tool Parkifi.