Japanese property technology startup estie, inc. has announced raising 2.8 billion yen (about $20 million) in its Series B funding round co-anchored by Singapore venture capital fund Vertex Growth and the Development Bank of Japan.
The round was also backed existing investors, including Globis Capital Partners, University of Tokyo Edge Capital Partners, and Global Brain.
Per the announcement, estie will use the fresh capital to accelerate its growth and expand its market presence in Southeast Asia. The fresh funding will also facilitate strategic M&As and allow the company to continue recruiting talents.
estie raised 1 billion yen ($6.7 million) in Series A funding in January 2022.
Founded in 2018, estie aims to provide data infrastructure to further drive digital transformation in Japan’s real estate industry. estie’s platform covers one of the largest numbers of office buildings and logistics facilities in Japan. It allows users to scan through a property’s quantitative data from floor area and occupancy to tenants, as well as estimated rents calculated through its algorithm.
“We have started to develop and provide various services that utilize the knowledge gained in the office domain to expand to other assets and solve the core business issues of real estate operators as a vertical SaaS company, and we will further focus on this in the future,” said Ei Hirai, estie’s founder and CEO.
Hirai, a former property investor and salesperson at Mitsubishi Estate, added that its platform counts over 70% of major developers and real estate investment trusts in Japan as its users, including major construction firms Kajima and Takenaka.
