Propcorn funding news- Vienna-based Propcorn Raises €600k in Pre-Seed Funding

It leverages artificial intelligence to maximize real estate investment and urban development. The company specializes in finding redensification and new build prospects.With this support, the business hopes to permanently alter the proptech industry.

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Early in 2024, Bertty Contreras (CTO), Benjamin Buchta (CPO), and Niki Stadler (CEO) launched the Austrian proptech. They are working together to redefine how technology is used in the real estate industry.

Niki Stadler, Founder and CEO of Propcorn said, “We are thrilled to have such prestigious investors on our side who share our vision to transform the property industry,” “With this funding, we will accelerate our product development and bring our AI-powered search engine to market so that urban planners, developers and investors can discover new opportunities with unprecedented efficiency and accuracy.”

The Propcorn platform will launch in September 2024 and provide a complimentary trial period for all users. The program will give real estate professionals an effective tool for locating underutilized land and streamlining property portfolios, resulting in a more streamlined and data-driven approach to urban planning and investment.

Hansi Hansmann, Business Angel and Chairman of the Hans(wo)men Group said, “The founding team has identified a key pain point in the property industry and is ideally positioned to solve it with the help of its AI-driven platform. We are delighted to be part of this,”.

Rastegar Panchal Rechtsanwälte Keyvan & Katharina Rastegar of RPCK Rastegar provided legal help for the financing round. One of the first FlexCo start-ups in Austria, Propcorn showcases an inventive approach to contemporary corporate structures and technologies, including the potential distribution of tax-privileged enterprise value shares (UWA) for employee participation.

Lucanus Polagnoli, Founding Partner and CEO at Calm/Storm Ventures, added: “We are pleased to support Propcorn’s mission with our Austrian Founders Fund, not only because we believe in the founding team, but also because we see the ever-increasing strategic importance of AI-driven technologies. We believe that this development will affect all industries, especially the property sector.”

Sebastian Scholda, Managing Director at Weilburg Ventures, said: “Propcorn solves the problems of many market participants in the property industry in an efficient way. In addition to property investors, for whom Propcorn provides a powerful tool with its innovative approach, Propcorn is also revolutionizing urban development and urban planning. Propcorn’s solutions can counteract the increasingly criticized issue of ‘soil sealing’ in particular, as redensification can be assessed much more easily and quickly. This diversity and practical relevance were decisive factors in our investment.”

About PROPCORN

A group of AI specialists and real estate professionals who recognized the potential of technology to revolutionize the market established PROPCORN. With the use of cutting-edge AI technology, they think that everyone should be able to participate in real estate development.