March updates from Norway

Some new updates from PropTech Norway

Norwegian PropTech start-up Disruptive Technologies valued at 1 billion NOK

Investors are fighting for the Norwegian sensor company Disruptive Technologies. In the last funding round, the company got 85 more million NOK at a valuation near a billion NOK.

MESH Nordic Co-working gets 40 million NOK funding

The company behind MESH co-working space in Oslo, with locations both in Copenhagen and Trondheim as well, gets 40 million NOK in new funding round.

The company are working with opening three more locations in the Nordics, but will not say where or when.

This feels great! We have been working with it for four months and everything went according to plan“, says founder Anders Mjåset

The government in Norway invests in Disruptive Technologies

The Norwegian government climate investment company Nysnø invests 20 million NOK in sensor tech company Disruptive Technologies. The prime minister of Norway Erna Solberg was present when the investment was announced.

The technology is especially relevant for the Norwegian government as it can be used to make more efficient use of energy in buildings etc.

PropTech superstar Sp8ce shut down – and write the last post every Proptech founder should read

Norwegian / Danish Proptech start-up Sp8ce shut down all business after find out that they will not be able to go big – so they go “home”.

Read a fantastic blog post about the learnings of this from founder Niels Meibom

Founders behind Shopphisticaed launch a new app for Panama

The app is called Panama Good Times and is based on the Shopphisticated technology, only to be used outdoors instead. They are reporting 5-10 new paying customers every day and have 250 paying customers after only three months use.

The company are working with many potential cities in Mexico as well, with a concept called Mexperiencia. Instead of making an app for the whole of Mexico, they are making one app for each city who want to work with them. They are also in discussion with Mexico City Airport with Shophisticated.

The cities that now are being considered include Cancun, Playa del Carmen, Guanajuato, Toluca, Valle de Bravo and Mexico City.

The company is also in talks with Miami Beach for the same concept. They are integrating a booking system as well for all of these, that includes the possibility for food delivery, table booking, dentist booking, City Pass-function and much more. They are also in dialogue with Mapbox about heatmapping outdoors.

Unloc are getting millions

Unloc, the keyless system, recently had a new found round. In three hours they had gotten almost 7 million NOK, more than double that what they were asking for. There are many known investors in their investor base and the company has been in almost every financial newspaper the last weeks.

The Norwegian accelerator TheFactory has started the final round of selecting startups for the first Proptech accelerator

TheFactory is part of Global Accelerator Network (GAN) and was awarded the best accelerator in Norway in 2017. On the team, TheFactory has brought along 11 industrial partners. Among these are some of Norway’s largest real estate companies.

In Norway, TheFactory, is recognized for its Fintech accelerator and incubator. Due to the overlay between Bank/ finance and Real Estate,  Proptech a natural next step in their expansion.

So far eighty startups are reviewed in the screening process of which 30 has been interviewed. Of these, ten have been shortlisted and are now ready for the final round of the selection process that will end up in a more formal DD process. According to TheFactory there are quite many promising startups out there. TheFactory has had applicants from all countries in the Nordics as well as some from Europe and the US. In parallel with preparing the program, TheFactory is also raising funds to make follow up investments in addition to the initial investment TheFactory do.

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