Founded in late 2016, the first year has been a remarkable journey for Concrete. Supported by our founding partners, Starwood Capital and Seedcamp, we have now successfully established strategic alliances with global leaders in real estate – JLL, Skanska, Fora, Innogy, and three more soon to be announced representing more than £100bn of assets under management. As a proptech-focused VC, we actively search innovative solutions throughout the real estate value chain, and support founders to drive them to market across asset classes.
To date, we have been fortunate to build an inspiring pipeline covering startups throughout Europe and internationally. From Artificial Intelligence to Augmented Reality, Concrete has been exploring technologies that enhance workflow, drive data insights, improve end-user experiences, and innovate in the workplace.
In 2017, we backed eight companies, co-investing alongside phenomenal VCs like Accelerated Digital Ventures, Global Founders Capital, Seedcamp, and Nextlaw Labs by Dentons.
Several emerging technologies are finally hitting the real estate space and making notable impacts to the traditional practices. In particular, Artificial Intelligence & Machine Learning for valuations and property management, Internet of Things for asset management and smart building development, Drones for construction monitoring and quality assurance, and Workflow Platforms & Portals for data analytics and tenant experience enhancement. At the same time, VR & AR are gaining momentum in the design and marketing space, and Blockchain poised to CRE operations, especially in smart contracts and transactions.
The real estate industry is going through a once-in-a-generation shift, and proptech startups are well positioned to benefit the industry in radical ways. For 2018 and onward, we are excited to explore solutions that can further enhance end-user experience and optimize workflow efficiency. Together with our partners, we look forward to supporting visionary founders, and backing the next Unicorn!
Dandi Li is investment associate at Concrete Venture Capital in London