CHAOS raises €1.5m to help predict growth of cities
Finnish urban demographics forecaster CHAOS has announced the successful closure of a €1.5m funding round led by sustainability-focused Swedish investment firm Nidoco with angel investors Kai Keituri, Tapio Heikkilä, and Stefan Lindberg also participating.
The investment team will work with CHAOS to scale their real estate forecasting insights so investors and developers can better assess risks and increase their competitive edge when building urban portfolios across the world.
CHAOS co-founder and CEO Natalia Rincón: “The world’s urban environments are developing at an extraordinary rate, yet as we have seen, it is essential they remain livable for residents under all kinds of conditions.
“This latest round of investment will support our mission to make future cities vibrant places to live by helping today’s real estate investors forecast how they will grow and evolve through true data-driven insights. This will help them build sustainable property portfolios by understanding the demographic demand and matching it with the service supply of each area.”
Private real estate investors play a key role in how cities develop over the long term. They have access to many sources of data, but the ability to generate professional insights and forecasting from their data sets has not yet fully matured. The CHAOS platform is custom-built to tackle this challenge by helping them forecast which acquisitions to make so they can build profitable, sustainable portfolios that make cities great places to live for residents.
“We identified CHAOS as a key player in our strategy to invest in AI and urban technology-based businesses that reduce CO2 emissions and increase the efficiency of the built environment,” said Nidoco CEO Patrick Castren. “CHAOS places citizens at the centre of our cities, enabling developers to smartly plan sustainable urban environments that prioritize long-term viability.”
The CHAOS team has a busy 2021 ahead, with further improvements to the technical forecasting solution planned that will deliver deeper data insights to customers. The team is currently in talks to make its forecasting solution available worldwide.
“The real estate industry will only move forward when livable cities become good investment targets – we want to make that happen,” concluded Rincón.