📰 TLDR

• Bridgit raises $7M in funding

• Trunk Tools raises $9.9M in Seed

• CarbonCure raises $80M in new equity funding

• Vilisto raises €5M in Series A

• Gryps raises $1.5M in funding

• House Numbers raises $3.75M in Pre-seed

• Trebellar raises $3.5M in funding

• Knowify raises $5.45M in Series A

• Hello Neighbour raises £2.5 million in Series A

• Epishine raises $5.5M in latest funding round

• 🌟PropTech Star of the week: Northstar Technologies is a Canadian-based clean technology company focused on the sustainable recovery and reprocessing of asphalt shingles.

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❗Highlights in PropTech

Bridgit

• Bridgit raises $7M in funding

• Bridgit provides a workforce planning and optimization platform that transforms workforce data into actionable insights, allowing contractors to bid on and staff projects with information available.

• The company has released 52 new features in the last year and announced 16 integrations (with companies such as Procore, Autodesk and Trimble), with plans to continue expanding in the future.

Trunk Tools

• Trunk Tools raises $9.9M in Seed

• Trunk Tools offers construction companies an all-in-one platform to unlock financial flexibility for employees to access a portion of their wages daily at no extra cost to them.

• Trunk Tools uses AI to help managers set productivity goals and safety rewards, which workers receive directly via SMS, eliminating the need for additional app downloads.

• Workers can view current and upcoming tasks, check their balances, review transactions, and perform other essential functions directly from their phones.

• Companies pay their employees instantly via dedicated debit cards, and the software integrates into existing payroll systems.

CarbonCure

• CarbonCure raises $80M in new equity funding

• CarbonnCure, a carbon dioxide removal tech company, has developed easy-to-adopt solutions that enable concrete producers to use captured carbon dioxide to produce reliable, low carbon concrete mixes and achieve market differentiation amid surging demand for greener building materials.

• With hundreds of CarbonCure systems operating around the world, roughly five million truckloads of this concrete have supplied a broad spectrum of sustainable construction projects.

Vilisto

• Vilisto raises €5M in Series A

• Vilisto is a German startup which provides digital heat management for non-residential buildings

• Its solution is centered around an intelligent radiator thermostat that automatically manages the individual room temperature.

• Sensors integrated within the thermostat detect motion, light, and sound levels with the help of self-learning algorithms to manage room temperatures. This means that every room uses less energy, resulting in energy and CO2 reductions for companies and municipalities of up to 32%.

Gryps

• Gryps raises $1.5M in funding

• Gryps connects to multiple email, project management database, and other systems to automatically scrape and organize documents during the construction process.

• The platform ingests documents like manuals, warranty certificates, contracts, change orders, invoices, lien waivers, and other close-out documents from different sources and then applies machine learning to categorize the files and label them correctly so that they can be shared with various stakeholders.

House Numbers

• House Numbers raises $3.75M in Pre-seed

• House Numbers is a wealth management platform for homeowners

• By entering some basic information, such as address, mortgage details and credit score, House Numbers will give homeowners a better understanding of how much value they have locked up in their homes.

• It provides a dashboard with an estimated value of the home, how much equity has accrued since purchase and the loan-to-value ratio.

• In certain markets, the company can surface financing options — like HELOCs, home equity loans, and cash-out refinances — then help homeowners pick the best option.

Trebellar

• Trebellar raises $3.5M in funding

• Trebellar helps Workplace, Facilities Operations, and Real Estate teams make informed decisions via a software platform that unifies and analyzes building data, then applies AI and machine learning to make it actionable via insights, alerts, and customizable automations.

• Once configured, the platform automatically generates analytics on key trends, outliers, and predictions – for individual spaces or across a portfolio. Users can also create time-saving workflows that automate real-time alerting and issue resolution for facilities management and workplace teams.

Knowify

• Knowify raises $5.45M in Series A

• Knowify offers modern, web-based tools to help specialty contractors and residential general contractors run their businesses better.

• Knowify covers all aspects of administering a contracting business, from contract and change order management to scheduling, time tracking, invoicing, and more.

• Knowify also features an extensive integration with Intuit QuickBooks

Hello Neighbour

• Hello Neighbour raises £2.5 million in Series A

• Hello Neighbour offers UK tenants and landlords a fairer and more affordable approach to property letting and property management. So far, over 1000 landlords let their property with the company and they are currently onboarding over 150 new properties a month. More than 100,000 tenants have already registered on the platform.

Epishine

• Epishine raises $5.5M in latest funding round

• Epishine claims its printed organic solar cells can help make electronics self-powered reducing the use of power cables and disposable batteries.

🌟PropTech Star of the week:

Northstar Technologies

Northstar Technologies, a Canadian company specializing in the recovery and repurposing of single-use plastics, is making strides in the clean technology sector. The company's recent execution of a binding credit agreement for $8.75 million in debt with the Business Development Bank of Canada (BDC) signals a growth potential in the construction materials recycling industry.

Currently, we’re seeing increased investment in global cleantech companies, especially those addressing high-waste processes of the construction industry. One of the most discarded and least recycled products in the construction industry are asphalt shingles. Typically used to provide exterior roofing weather protection in residential homes, roofing shingles end up in landfills with almost no after use value.

Northstar Technolgies has developed a patented environmentally-friendly reprocessing solution for asphalt shingles with a 60% lower carbon footprint.

They achieve this by extracting dried, liquid asphalt in used shingles for use in new hot mix asphalt, shingle manufacturing, asphalt flat roof systems, and aggregate/fiber for use in construction products and other industrial applications.

Focused on the circular economy, Northstar plans to reprocess used or defective asphalt shingle waste back into its three primary components for reuse/resale.

What do we like?

• Tech-Driven Solution - Northstar's proprietary technology, Empower, is designed to recover valuable resources from single-use plastics that would otherwise end up in landfills or the environment. This technology not only addresses the global issue of plastic waste but also creates a new source of valuable materials.

• Scalability - Northstar's business model is scalable, with potential for expansion into various markets globally. According to Northstar Technologies, the market potential is US$1.35 Billion dollars in Canada alone, with limited proven processing alternatives.

• Physical Facilities - Northstar operates several facilities, including the Calgary Scale Up and the Empower Pilot Facility, which serve as the backbone of its operations. These facilities are critical in demonstrating the viability and efficiency of Northstar's technology.

• Intellectual Property - The company's intellectual property portfolio, which includes its proprietary Empower technology, is a significant asset. This technology sets Northstar apart in the clean technology sector and provides a competitive edge in a rather limited competitive market.

What are the risks? 

As with any company operating in the clean technology sector, Northstar faces several risks. The company operates in a highly regulated industry, and any changes in environmental regulations could impact its operations.

Furthermore, the company is still in the processing of patenting 2/3 of it’s entire process. This is a risk if patent approval is not granted or competitors develop similar solutions, preventing patentability.

Additionally, the company's success is heavily dependent on the performance and efficiency of its Empower technology. Any technical issues or inefficiencies could potentially impact Northstar's operations and growth.

Logistically, there is risk of high costs in transporting waste from across Canada for processing. Expanding to strategic locations is another aspect that would affect growth and profitability in the long term.

Finally, the company's recent credit agreement with BDC, while providing necessary capital for expansion, also adds to its debt load. This could impact Northstar's financial stability and future profitability.

Overall

Northstar Technologies offers a promising solution to the global issue of recycling asphalt shingle waste. We particularly like the aspects of high growth market potential, low competition, and patented technology.

However, while the company's recent credit agreement with the BDC is a positive development, it also adds to Northstar's debt load, which could impact its financial stability.

The company's success is heavily dependent on the performance and efficiency of its technology, logistics, and patent approval. Any of these risks could potentially impact its operations and growth.

Despite these risks, we remain optimistic in the high growth potential of Northstar Technolgies.

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