To Digitalise Real Estate, Munich-based Startup Alasco Secures €35M
With the aim to digitalise real estate sector Alasco raises €35M for its cloud-based financial management platform.
Real estate is one the fastest growing sectors in Europe. However, this sector is facing two major challenges at the moment – digitalization and its climate footprint. To enrich the sector with digital powers, Alasco has secured €35M for its financial management platform in the latest funding round.
The latest Series B funding round was led by New-York based global venture capital and private equity firm Insight Partners. However, global private equity platform Lightrock also participated in the funding round.
It is an indisputable fact that climate has become a serious concern. And anthropogenic factors are mostly responsible for the detoraition of climate. Construction and real estate is one of such sectors that contribute dully in environment degradation. This is why, making construction ESG ( environmental, social, and governmental) compliant has become very important.
Moreover, as per the findings of UNEP, construction industry accounts for 38% of carbon emissions. It clearly indicates the gravity of the challenge that construction industry is facing. In the context of technology, both construction and real estate are lagging way behind. Mostly this industry is still relying on ages old software.
This is the reason that most of the data produced during construction is not used and wasted. Only 10% of the data is used and rest remains waste. In this regard, Conxai is making efforts with the help of artificial intelligence. This shows how development of real estate applications is becoming more popular these days.
With the aim to solve these problems and inculcate digitalisation in real estate, the startup came into being in 2019. The startup has introduced a Real Estate Success Software as a cloud-based real-time SaaS platform that enables customers to connect all sources of ESG and financial data – including budgets, actual cost, revenues and ESG criteria – with cutting-edge technology that automates and assists with financial and sustainability decision making.
The major reason for success of company is its focus on sustainability and its interactive and easy to use interface. However, with the new funds, the company is planning to expand in other regions of Europe and improve ESG capabilities to support customers.
Speaking on the future of the company, CEO and founder Sebastian Schuon, said: “By the end of 2022, we plan on doubling our headcount from 100 to around 220 employees. At the same time, we plan to expand our business into new markets. Growing our presence internationally is the next logical step for us, although customers around the world already use our solution.“
Story Credits: Eu-Startups