Successful financing round: The Munich-based Proptech startup Building Radar has secured BayBG Bavarian Investment Company gained another investor. At the same time, existing investors are increasing their investment. The size of the current round was not disclosed, In 2019, the Munich-based startup was able to raise 5 million euros in a Series A round.
Building Radar's SaaS software solution informs construction companies and (interior) architects in real time about future or ongoing construction projects. Thanks to the use of artificial intelligence (AI), the startup identifies relevant construction projects in real time and as early as possible. This gives the proptech company's customers a competitive advantage. According to the company, the Munich-based startup identifies 5,000 new construction projects every day from over 100,000 different sources worldwide. A total of over five million projects are recorded.
Expansion and optimization are on the agenda
The young company's customers include many well-known names such as Linde, Schüco, Viessmann, and Vorwerk. BayBG Investment Manager Lukas Biberacher is convinced of the company’s success:
"We see enormous growth potential in Building Radar's platform, as it offers customers a decisive advantage. Potential orders can be identified and addressed very early, thus contributing to important sales success."
And Building Radar Co-Founder Leopold Neuerburg says:
"We are very pleased to have found a highly renowned VC investor in BayBG Venture Capital. With this new capital, we will be able to position ourselves even more comprehensively in the global market, continue to expand, and optimize our product."
