📰 TLDR

• Picket raises $20M in Series B

• Augmenta raises $11.75M in Seed Extension

• Hypar raises $5.5M in Series A

• Slide Insurance raises additional $35M

• Kitt raises $8M in a Seed extension

• Rosarium Health raises $1.7M Pre-Seed

• Chexy raises $1.3M CAD Pre-Seed

• buildbuild raises $1.25M Seed

• 🌟PropTech Star of the week: Kubik is an Ethiopian startup that turns hard-to-recycle plastic waste into affordable, low-carbon building materials, removing 45,000 kg of plastic waste from landfills every day.

🙌This week’s edition is brought to you by…

Want to get your product/service in front of VCs, asset managers, RE professionals, and founders?

With an average open rate of ~70%, our newsletter gets YOUR product in front of the eyes that matter.

What value do you get?

✅ 1 spot per week (it’s yours, and only yours)

✅ Direct button link to your website (great for SEO!)

✅ Forever in an article (we don’t delete articles)

✅ Our audience includes Real Estate and PropTech professionals/investors from: FifthWall, PropTech1 Ventures, Google, Cushman & Wakefield, JP Morgan, MetaProp, and more!

❗Highlights in PropTech

Picket

• Picket raises $20M in Series B.

• Picket provides a single-family rental platform for investors and rental home residents.

• The investing platform analyzes supply and demand dynamics in more than 25 US rental markets and automatically evaluates the investment potential of more than 50 million single-family properties.

• Properties are ranked according to investor criteria, and each on-demand investment analysis includes rental and sale valuations, modeled expenses and returns, and neighborhood-level data (including school scores, crime rates, population growth, and income growth).

Augmenta

• Augmenta raises $11.75M in Seed Extension.

• Augmenta is a software product that automates building design.

• Augmenta’s flagship Augmenta Construction Platform (ACP) accelerates the time it takes to detail and estimate designs, eliminates costly redesign and rework, and reduces overall risk.

• It also ensures buildings are designed to be energy efficient, use sustainable materials, are safer to build, and contribute less waste to landfill during construction.

• Once available commercially, the platform will enable contractors and engineers to create error-free, constructible, code-compliant designs of buildings and systems in hours instead of weeks.

Hypar

• Hypar raises $5.5M in Series A.

• Hypar provides a cloud-based design automation platform that enables building teams to create building design, construction, and product systems.

• In addition to the main platform, the team has launched a space planning app built on Hypar that aims to reduce time spent on commercial test fits.

Slide Insurance

• Slide Insurance raises additional $35M after $105M venture-back series A in November 2021.

• Slide Insurance is a full-stack homeowner’s insurance software platform that makes it easy for users to choose the right coverage for their unique needs and budgets.

• Slide Insurance leverages AI and big data to hyper-personalize, optimize, and streamline every part of the insurance process.

• Launching operations in February 2022, Slide Insurance and has grown to become the largest full-stack homeowners insurtech in the country with over $570M of premiums.

Kitt

• Kitt raises $8M in a Seed extension

• Kitt is a workspace platform intended to offer customizable workspaces to tenants via its landlord partners. The company's platform allows tenants to visualize and design their space using VR, before the space is built

• Kitt also offers a range of on-demand services such as app-based entry systems, remote receptionists, and security systems, enabling tenants and landlords to get access to a seamless alternative to traditional office leases.

• Some notable clients in Kitt's portfolio include Oatly, Zayo, and Handshake.

Rosarium Health

• Rosarium Health raises $1.7M Pre-Seed.

• Rosarium Health is a platform that connects service providers (home contractors and occupational therapists) with clients that need accessible property assessments and accessible home renovations (ex. wheelchair access to a home or business).

Chexy

• Chexy raises $1.3M CAD Pre-Seed.

• Chexy is Canada's first payments platform that enables tenants to earn rewards through consistent on-time rent payments.

• Tenants can earn rewards by using their preferred credit cards for rent payments and earn additional cashback towards their rent through everyday spending with popular household brand names.

• Chexy recognizes the significance of credit history and enables tenants to improve their credit scores by reporting rent payments to credit bureaus, enhancing their financial standing.

buildbuild

• buildbuild raises $1.25M Seed.

• buildbuild is a construction project, task, and budget management software. builbuild enables project mangers to assign work to others, track tasks, release payments, and more.

🌟PropTech Star of the week: Kubik

Kubik, a tech startup based in Ethiopia, is carving out a niche for itself in the construction industry with a unique proposition: building sustainable homes from recycled plastic waste. The company's recent success in securing $3.34M in funding underscores the potential of their innovative model, which seeks to address two pressing global issues - the housing crisis and the problem of plastic waste.

The construction industry is often associated with environmental degradation and wasteful practices. Kubik's model, however, offers a different narrative. It's not just about the construction of homes, but the creation of a sustainable, cost-effective solution that could have far-reaching benefits for both the environment and communities.

What do we like?

• Sustainable Construction - At the heart of Kubik's model is the use of recycled plastic waste in the construction of homes. This approach addresses two significant issues simultaneously: the shortage of affordable housing and the environmental concerns of plastic waste.

• Affordability - According to Kubik, the use of recycled materials in construction reduces building costs, making these homes potentially more affordable for low-income families. This could have a significant impact on improving access to housing in regions where affordability is a major barrier.

• Job Creation - The process of collecting and processing plastic waste for is labor-intensive, which could create job opportunities at various stages of the supply chain, therefore contributing to local economic development in regions where Kubik operates.

• Scalability - Cost effective building materials are a global issue. So, this model could easily be scalable in theory. If successful, the model could potentially be replicated in various regions around the world, amplifying its impact.

• Design - Beyond sustainability and affordability, Kubik also emphasizes design aesthetics. The company's homes are not just functional and eco-friendly, but also visually appealing. This focus on design could help challenge perceptions of what affordable, sustainable housing can look like.

What are the risks? 

Despite the potential benefits of Kubik's model, it's important to acknowledge the potential risks and challenges. The construction industry is regulated, and any changes in regulations regarding the use of recycled materials in construction could impact Kubik's operations. Materials testing for strength and durability must meet certain standards, otherwise the model may not be so scalable.

Additionally, the labor-intensive nature of collecting and processing plastic waste could present challenges as the company seeks to scale its operations as it depends on the pace of collection for production. With goals of expanding across Africa, Kubik could face further challenges from homegrown competitors in other countries.

Overall

Kubik is an exciting startup solving both the housing and environmental problems. However, we at PropTech Stars don’t have insight into the exact methods in which these building materials are manufactured. Although the business model is promising, the problems are global, and the recent investment is supportive, we remain cautious yet hopeful.

Kubik is a young company solving a very big problem in a regulated industry. There are risks but also potential for large returns. It remains to be seen how Kubik defends it’s model against competitors, regulators, and operational challenges.

▶️Checkout our NEW YouTube Series

Interviews with startup founders, investors, and experts from the PropTech world!

🤝Join the club!

Subscribe or get your startup featured (PropTech Star of the week) in our newsletter!

🎯That's it for this week!

Did I miss anything? Or just want to say hello?

1. 💬 Let’s connect on Linkedin

2. ▶️ Comment on YouTube

3. 💌 Email me (reply to this email)

Please refer any friends or colleagues who may find this interesting. Lets kick off that network effect. ⭕️