BayBG invests in proptech startup Building Radar
Existing investors also participated in the latest round of financing. Among other things, the founders want to use the money to improve the software.
The Munich-based start-up Building Radar has closed an investment round. The amount of the round was not disclosed. Bayerische Beteiligungsgesellschaft (BayBG) is participating as a new investor. Existing investors from the Series A last year are also increasing their investment. In June 2020, Cologne-based VC Coparion and Berlin-based PropTech1 Ventures, which invests in tech startups in the real estate industry, among others, gave five million euros.
Founded in 2014, Building Radar offers SaaS software that provides real-time information to architecture firms and construction companies about future and current projects. The start-up says this is helpful in acquiring new construction projects for itself at an early stage. Building Radar's software captures 5,000 new projects daily. Its customers include Linde, Schüco, Viessmann and Vorwerk. "We see enormous growth potential in Building Radar's platform, as it offers customers a decisive advantage," says BayBG investment manager Lukas Biberacher. "Potential orders can be identified and addressed at a very early stage, contributing to important sales success."
Co-founder Leopold Neuerburg says: "With the new capital, it is possible for us to position ourselves even more comprehensively on the market worldwide, to expand further and to optimize our product."
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