BayBG invests in proptech startup Building Radar

Existing investors are also participating in the latest financing round. The founders want to use the money to improve the software, among other things.

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. The existing investors from last year's Series A are also increasing their investment. In June 2020, Cologne-based VC Coparion and Berlin-based PropTech1 Ventures, which invests in tech start-ups in the real estate industry, among others, invested five million euros.

Building Radar was founded in 2014 and offers SaaS software that informs architecture firms and construction companies about future and current projects in real time. According to the start-up, this is helpful for acquiring new construction projects at an early stage. The Building Radar software records 5,000 new projects every day. 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 and thus contribute to important sales success."

Co-founder Leopold Neuerburg says: "With the new capital, we will be able to position ourselves even more comprehensively on the global market, expand further and optimize our product."