Munster, Germany-based syte is offering a search engine for real estate.
The German startup has now brought in €2.6 million in funding.
Just by entering the address, the platform can summarise all the necessary information about plots of land, location data, surrounding buildings, materials used, sustainability criteria, and even an estimate of the return on investment.
The fresh money will enable the team to further refine the AI tools and scale the business model to make property data from other federal states, including Berlin and Brandenburg, accessible.
The AI calculates the potential with many different urban planning parameters.
According to the company, the AI has been trained with about 10 million data sets of buildings and properties in North Rhine-Westphalia.
Going forward, the platform aims to develop a digital potential map for the whole of Germany and Europe.
The round saw the participation of High-Tech Gründerfonds (HTGF) and four other investors from the real estate industry.
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