Tech company PropEco, which offers an innovative platform for assessing the long-term value and viability of properties, has secured £275,000 in seed funding to support its growth.
The University of Strathclyde’s Inspire Entrepreneurs Fund took part in the latest funding round, with lead investor London-based venture capital firm Symvan Capital.
Environmental trends
The capital injection will accelerate the company’s mission to empower property professionals, lenders and insurers with advanced data and analytical tools to manage the impacts of rapidly evolving social and environmental trends – including climate change – on properties.
By expanding its team and accelerating product development, the company aims to establish a strong foundation for international expansion over the next 12 months.
Climate change
PropEco focuses on three main factors – transition climate change risks, physical climate change risks and impacts on wellbeing – to provide a comprehensive and holistic understanding of the long-term value and viability of properties and locations.
The company’s AI-powered platform constantly analyses data from thousands of sources, many of which are proprietary, to provide granular assessments of factors such as evolving flood risk, air quality and green retrofit potential. This powers multiple products and services including an API, a portfolio assessment service, browser-based risk assessment tools and property reports.
Anne Henderson, Interim Head of Investment at the University of Strathclyde, said: “As a socially progressive, values-driven organisation, the University of Strathclyde is proud to support PropEco through our Strathclyde Inspire Entrepreneurs Fund, alongside our investment partner.
Strathclyde is committed to supporting entrepreneurs and innovative companies who make a positive difference.
Founder and CEO Chris Hardman, said: “Symvan Capital and the University of Strathclyde’s decision to invest in PropEco underscores the growing importance of integrating environmental and social factors into financial and property decisions.
“With increasing awareness of the risks that trends such as climate change pose to the built environment, PropEco is well-positioned to capitalise on growing market demand and establish itself as a leader in the emerging field of climate-conscious property technology.
“Established methods of assessing risk in both commercial and residential property are not equipped to handle the complexities of rapidly changing environmental and social conditions. We’re talking about systemic issues that demand a data-driven approach, one that provides granular, property-level insights to inform smarter, more resilient decisions.”