InovaReal, a proptech startup based in Vienna, has raised €250k in a pre-seed round for its planned expansion. The startup, which has the ambition to become a global player in real estate, attracted investors with its innovative digital real estate broker solution. 60% of the capital comes from EU-based investors, including prominent Slovakian business angels, while the other 40% is from business angels in the United States.
The app has been developed so that customers can manage their properties anywhere in the world directly from their mobile phones. The young company plans to use the funds raised to further develop the product and expand abroad – in the second half of 2023 to enter the Slovak market, and at the end of 2023 to build a franchise network in the GCC countries, i.e. the Gulf.
InovaReal’s application will be able to digitalize the entire process of selling, renting and investing in real estate and will provide a number of additional services. The company is working on functionalities such as digital signatures according to European eIDAS standards.
“Entering the Slovak market is a priority for us also due to the fact that Slovaks are the so-called ‘early adopters’ in the field of technology. Like many large international companies, we see it as a great opportunity to get valuable feedbacks from enthusiastic users of new technologies. As the country is not large, we can adapt more quickly to the needs of the market. After this pilot project, we will move to the Austrian market or the DACH region,” explained Lukas Makovsky, CEO of InovaReal.
“In May this year, we were selected among 150+ startups in the Top15 companies in the pre-seed category at the AIM Global 2023 Investment Awards in Abu Dhabi. Not only has this award confirmed the competitiveness of our application, but more importantly it has opened up interesting business discussions in the GCC region,” added Martin Pavelek, founder of InovaReal.
Founded in 2021, InovaReal became part of the Startup House Austria community in July this year.
Read the orginal article: https://www.eu-startups.com/2023/08/vienna-based-proptech-inovareal-raises-e250k-in-pre-seed-to-digitize-the-entire-real-state-process/
