Nordic Innovation at 2019 Nordic PropTech Showcase
As part of the New York Real Estate Week, the Finnish American Chamber of Commerce along with the Consulate General of Finland, Business Finland, Nordic Innovation House, and Nordic City Solutions organized the 2019 Nordic PropTech Showcase on November 14th. The purpose of the event was to showcase Nordic Property Technology companies and their innovations while providing a networking opportunity for innovators and investors alike. Among the seven Proptech companies providing pitches were Parking Energy, Nuuka, Disruptive Technologies, Arkivet, Cubicasa, Tmpl, and Valueguard. Each group had 5 minutes to pitch their solution to the investors through engaging presentations. The Pontos Group, a real estate investment group, also made a brief presentation.
Parking Energy, a Finnish company, aims to provide electric car charging for every parking spot. According to their presentation, 90% of all car trips are under 30 miles per day and require 10kWh of energy or less, which means that charging stations need to be readily available but do not necessarily need to be fast. Ideally, electric cars could be charged overnight or during the workday at readily available charging stations. Providing charging stations increases property value and is a smart investment for real estate owners. Parking Energy’s current projects include the Varma headquarter buildings, shopping centers, residential properties, and national parking operators. Parking Energy has won several awards and has already been successful in Finland and has also installed stations in Japan and Germany. The group is planning to launch in the US in 2020 and is currently looking for investors for their US launch.
Nuuka, a Finnish company, provided an innovative smart building software solution to current building management systems challenges. According to their presentation, real estate data tends to be scattered and poorly available. Nuuka has been a Finnish pioneer in bringing real estate data to the cloud and provides a software solution that connects building systems to the Nuuka cloud. Currently, over 2,500 buildings are connected to the Nuuka platform and over 1,700 buildings in the city of Helsinki are currently using the platform as a part of the city’s objective for carbon neutrality by 2035.
Cubicasa, another Finnish company, showcased their video to property data solution to combat scattered, unreliable property data. Their innovation includes a platform that converts video taken by a cellphone from a property into a floorplan and extracts useful data from the video including spaces and measurements, materials, style, condition, and other features. Because only 0-10% of all property listings in the US include a floorplan and property data is generally scattered, Cubicasa’s solution offers a portable, scalable solution that is easy to use. As of October 2019, there have been nearly 2,500 scans using the company’s technology and the company is currently looking for real estate agents, real estate technology providers, and property owners in the US.
Tmpl, a property technology company from Sweden, presented their comprehensive property management platform that caters to the needs of both property owners and tenants, while strengthening community relationships. The company aims to connect tenants, property owners, and community services in a revolutionary way through its digital communication and service platforms. Tmpl currently has pilot clients and projects in the US and is seeking to open-up investor relations.
Arkivet, a Norwegian company, hopes to make home improvement projects possible no matter the location through their platform that matches clients and service providers. Client mapping, designer profiles, and a transparent marketplace allow the platform to match clients and service providers smoothly. They are currently looking for investors.
Disruptive Technologies, an Oslo-based PropTech company, has created wireless, smart mini-sensors that connect property data to the cloud. The sensors boast a 15-year battery life and collect data such as temperature, proximity, and touch and can be used to monitor anything from empty meeting rooms to apartment temperatures. The company has already deployed over 60,000 sensors which collect a total of 5,000,000 insights per day. The company is currently looking to expand its operations.
Valueguard, a Swedish company founded in 2007, presented its strategy for bringing private homes to the housing market. Valueguard has a three-step strategy that includes establishing a credible price index, creating simple index-based contracts between the developer and buyer, and creating standardized products that can be bought by anyone. One of the company’s innovations include contracts between the developer and buyer that guarantees the buyer compensation for future index decline, thus limiting financial liability for the buyer and encouraging more private property ownership. The company is currently seeking investors and partners.
In addition to the companies pitching their products, The Pontos Group also made a brief presentation. The Pontos Group is a Private Equity and real estate investor in the Nordics focusing increasingly on PropTech and real estate solutions. The group offers help with networking, market entry, financing, and board work and management support for its clients and seeks to help PropTech companies of all sizes in their home and international markets. Pontos is interested in helping with the whole process from investment to construction and operation.
Overall, the event was a fantastic networking opportunity and provided fascinating insight into the new technologies and innovations provided by these Nordic Property Technology companies. Thank you to all the presenters and attendees!
