PropEco, a technology company based in Glasgow, has raised £275,000 in seed funding to further its development of a platform focused on property risk management and climate assessment.
The funding round was led by Symvan Capital, a venture capital firm in London that invests in early-stage, high-growth technology companies. Additional investment came from the University of Strathclyde’s Inspire Entrepreneurs Fund.
PropEco’s platform integrates property technology with climate risk assessment, utilizing artificial intelligence to analyze data from thousands of sources, including proprietary databases. The platform provides detailed evaluations of factors such as flood risk, air quality, and opportunities for green retrofits. These insights are available through various tools and services, from APIs to comprehensive property reports.
The newly raised capital will support PropEco’s efforts to provide property professionals, lenders, and insurers with data and tools to manage the impacts of environmental and social changes, including climate risks. The company plans to use the funds to expand its team and accelerate product development, aiming for broader market reach within the next year.
Chris Hardman, CEO and founder of PropEco, commented, “With the increasing focus on the impact of climate change on the built environment, PropEco is well-positioned to meet the growing demand for data-driven solutions in property technology.”
He added, “Traditional methods of assessing property risk often fall short when addressing the complexities brought about by rapidly evolving environmental and social factors. PropEco offers a data-centric approach, providing detailed insights at the property level to support more informed and resilient decision-making.”
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By Proptechbuzz
By Ravi Kumar
