Modoplus closes financing round

According to several media reports, the Hamburg-based start-up has raised a six-figure sum.

Hamburg-based start-up Modoplus has apparently successfully completed its pre-seed financing round. According to German Start-ups the young company received 550,000 euros, the portal Hamburg Start-ups reports a six-figure sum.

Modoplus offers AI-powered software for real estate development. It is designed to enable project developers to obtain important data in real time. This includes, for example, information on the utilization of a plot of land, structural potential or space for solar panels on roofs. Modoplus' offering is also said to be of interest to brokerage houses.

"We are pleased that we were able to close the financing round in a period of only about six weeks, despite the current market situation, and we thank our investors for their trust," Julian Bauer, CEO and one of the founders of Modoplus, told Hamburg Start-ups.

The start-up plans to use the money to expand. Currently, Modoplus can only be used in Hamburg, but four more German states are to be added by October. By the beginning of 2023, expansion for all of Germany is then apparently planned.