Syte receives 2.6 million euros

With the help of AI, the start-up wants to analyze properties for their economic and ecological potential. New investors are now getting on board.

The start-up Syte has raised 2.6 million euros in its seed round. The investment was made by High-Tech Gründerfonds (HTGF) and four other investors from the real estate sector. The company plans to use the new capital to further develop its AI and scale its business model.

Syte wants to analyze the economic and ecological potential of properties in real time. To this end, the start-up is working on an interactive map that summarizes all the necessary information about properties, location data, surrounding buildings, materials used, sustainability criteria and even an assessment of the return on investment. Artificial intelligence then uses these parameters to calculate the potential of a property. The AI has been trained with around ten million data sets of buildings and properties in North Rhine-Westphalia. The company now wants to develop a digital potential map for the whole of Germany and later for Europe.

"We see the revolutionary approach of using artificial intelligence to predict the development potential of properties as our contribution to sustainable urban development," says Matthias Zühlke, CEO and co-founder of the start-up. Sustainable urban development requires the optimization of existing buildings and the environmentally friendly use of vacant building plots. Zühlke founded the company in 2021 together with David Nellessen. The start-up now employs 15 people.