📰 TLDR

• Carbon Upcycling Technologies raises $26M in Series A

• Luxury Presence raises $19.2M in Series B-1

• Licify raises $3.4M in Seed

• Topline Pro raises $12M in Series A

• Source raises $8.5M in Series A

• Acelab raises $5.3M in funding

• Rapid Applications Group raises Growth Equity Financing

• 🌟PropTech Star of the week: Infraspeak is a platform for intelligent facility management, connecting various teams, facilities, software and hardware.

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

The UK’s Most Important PropTech Expo & Conference returns To ExCeL London

Building on the tremendous success of the inaugural edition, The 2nd Annual London PropTech Show will once again provide an incredible experience for participants over the course of 2 days encompassing top-notch product demonstrations from hundreds of exhibitors, unrivalled content from world-class speakers and ample networking opportunities with influential ministries and leading professionals from Residential, Co-working Spaces, IoT, Construction Technologies, Building Materials, Fintech, AI, Retail, Logistics, Electrification Infrastructure, Professional Services, and other key sectors.

❗Highlights in PropTech

Carbon Upcycling Technologies raises $26M in Series A

• Carbon Upcycling is a leader in circular decarbonization solutions for hard-to-abate sectors, including cement, steel, and mining. The all-electric solution mineralizes CO₂ emissions from industrial facilities and upcycles industrial byproducts into materials that reduce the carbon footprint of cement and concrete.

• Its commercial project deployments with, CRH in Canada and CEMEX in the United Kingdom, will be the first to integrate carbon capture and utilization at a cement plant.

• The company’s projects and research are also being supported by grants from the Government of Canada, UK Research and Innovation, and the US Department of Energy through work with the Colorado National Renewable Energy Laboratory.

Luxury Presence raises $19.2M in Series B-1

• Luxury Presence is a platform that provides growth marketing solutions to over 9,000 agents, teams, and brokerages. The company's award-winning real estate websites, expert marketing solutions, and AI-powered mobile platform help agents attract more business, work more efficiently, and impress their clients.

Licify raises $3.4M in Seed

• Licify provides digital supply-chain management software and financial solutions tailored for the construction industry. The company offers a range of innovative products and services that streamline procurement planning, bidding, billing, and payment conciliation, enhancing efficiency and driving economic growth.

Topline Pro raises $12M in Series A

• Topline Pro is a platform that empowers service based small businesses to get discovered, build trust, and get booked, repeatedly. The company utilizes generative AI to automate the creation of a SEO optimized website and ongoing online engagement along with tools that streamline operations from booking to payment.

• Topline Pro has generated over $180M in business across thousands of businesses in nearly all 50 states.

Source raises $8.5M in Series A

• Source digitizes and streamlines commercial real estate projects through a single cloud-based platform to support the budgeting, product and material selection and purchasing of projects.

• It enables verified architects and designers to browse products, save material selections into projects, order samples directly from representatives, and export product information into spreadsheets.

Acelab raises $5.3M in funding

• Acelab is a product selection platform for the construction industry, which eases access to structured data for every building product available in the US, enabling architects, builders and contractors to select from thousands of options and make informed decisions.

• The platform is currently being used by over 7,000 architecture practices around the country, including project teams at well-known firms such as AECOM, Gensler and SOM.

Rapid Applications Group raises Growth Equity Financing

• Rapid Apps provides a suite of software products that enables heavy equipment construction subcontractors to optimize the utilization of their fleets with scheduling and job dispatching, telematics GPS tracking, mobile workforce labor tracking and payroll, plus customer ordering, billing, and payments, all in one connected solution.

• Many of the largest heavy equipment subcontractors in the concrete, hydrovac, and crane space, including Brundage-Bone, Concrete Pump Partners, and Kinetic Industry, use Rapid Apps every day to manage their operations and provide insight into performance and productivity.

🌟PropTech Star of the week: Infraspeak

Infraspeak, based in Portugal, is harnessing technology to streamline maintenance and operations procedures for facility management. The firm recently raised 17.5M€ in Series A funding to expand their team and operations.

Historically, the facility management sector has grappled with inefficiencies, often underpinned by fragmented communication and traditional methodologies. Infraspeak's solution presents a much needed modern solution — a centralized, digital-first approach designed to declutter and refine operational workflows.

Infraspeak connects teams, facilities, software and hardware, whilst providing them with the intelligence and automation required to streamline tasks, optimize resource allocation and make operations more efficient.

What do we like?

• Integrated Systems - Consolidation of various maintenance and operational tasks. This integration fosters more transparent, streamlined, and efficient workflows.

• Customizability - Recognizing that no two facilities are identical, Infraspeak allows users to tailor the platform to their unique requirements, ensuring that specific operational needs are met.

• Real-time Data Access - Infraspeak's model prioritizes instant data accessibility. This immediate access to information facilitates prompt decision-making and optimizes resource allocation.

• Ecosystem of Apps - The startup offers an array of applications, enhancing the platform's versatility. Such an ecosystem ensures that establishments can find a toolset aligning with their distinct needs, all from one platform.

• Sustainability Drive - By optimizing maintenance and operational tasks, establishments can potentially reduce wastage, thereby contributing to sustainability initiatives.

What are the risks? 

As with any other startup, it’s essential to understand the risks and challenges Infraspeak might face. The facility management industry, while ripe for innovation, also exhibits inherent complexities, primarily due to the numerous operational requirements.

• Adoption Rate - As Infraspeak introduces tech-forward methodologies, traditional facilities might exhibit reluctance towards swift adaptation, possibly slowing down the platform's user adoption.

• Data Security - Given that the platform centralizes operational data, concerns regarding data privacy and security could arise, requiring rigorous cybersecurity measures.

• Customization Complexity - While customizability is a strength, ensuring that the platform remains intuitive and user-friendly amidst numerous customized client platforms could be challenging.

Overall

Infraspeak offers a refreshing perspective in a domain characterized by both age-old methodologies and an unmistakable need for innovation. The challenges are multifaceted, ranging from changing traditional mindsets to safeguarding accumulated data. Its growth, while promising, will invariably be influenced by how it maneuvers these challenges, interacting with both its competitors and the broader facility management ecosystem. Recent funding is promising, with Infraspeak seeking to hire and expand to other countries.

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