Syte receives 2.6 million euros

With the help of AI, the start-up wants to analyze land for its economic and ecological potential. Now new investors are getting on board.

The start-up Syte has raised 2.6 million euros in its seed round. The High-Tech Gründerfonds (HTGF) and four other investors from the real estate industry invested. With the new capital, the company plans 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 do this, the start-up is working on an interactive map that summarizes all the necessary information about plots of land, location data, surrounding buildings, materials used, sustainability criteria, and even an assessment of the return on investment. An artificial intelligence then uses these parameters to calculate the potential of a plot of land. The AI has been trained with around ten million data records of buildings and land in North Rhine-Westphalia. Now the company wants to develop a digital potential map for all of Germany and later for Europe.

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