Three WILD Proptech Companies

Written by Tyler Kastelberg

February 13, 2022

Happy Superbowl Sunday!

Whether it’s artificial intelligence, electric vehicles, or blockchain technology, the world is accelerating at an exponential rate, and commercial real estate isn’t being left behind.

For this week’s newsletter, we’re putting a spotlight on three early-stage proptech companies that we’re keeping a pulse on.  

Before we get started, send this to a friend who is rooting for the Bengals 🐯, and tell them to subscribe here

Three companies to watch…

Xeal

Only two years old, Xeal Energy is a Los Angeles-based EV charging company that uses patented technology to bypass Wi-Fi connectivity when activating EV chargers. The patent protocol, called Apollo, uses distributed ledgers and time-bound tokens in order to connect to chargers with no internet service. Why is this a big deal? Think large parking garages with limited connectivity, chargers in desolate areas, etc. Xeal says the main catalyst for their growth was through targeting apartment owners looking to provide EV charging on their properties. Xeal plans to have up to 10,000 installed at the end of 2022! 

MeetElise

Using AI technology, MeetElise is an emerging leasing agent software that is being used at over 250k apartment buildings nationwide! MeetElise essentially automates the need for a leasing agent by responding to emails, calls, and texts from prospective tenants. MeetElise is being activated amongst the portfolios of some of the largest property management companies and has greatly increased their efficiency and profitability. 

Vertalo

Based in Texas, Vertalo digitizes real estate assets in the form of tokens using blockchain technology. Vertalo is exploring the use of ledgers to maintain asset records and property ownership as well as pertinent transaction info (purchase price, unit count, etc). In 2021, Vertalo booked $1.5MM in revenue and received funding from Coinbase. 

More and more capital is pushing commercial real estate continues into the digital realm. This week, for the first time, a Florida home was sold for $650k as an NFT. The Biden administration also announced $5B of funding for building a charging network for EV’s. Where there is room for disruption, there will be funding and opportunity, and it seems as though the above firms are positioned wisely. 

Thanks to Max for authoring our newsletter this week. He’s responsible for everything except the Bengal’s comment … that’s all me. 

Before we go – Some of you have expressed interest in receiving help with raising money for your funds. I recently had a conversation with Brad Blazar who runs a boot camp for raising money. He’s a pretty rad guy – check out his site here

If you are looking for some help getting started, drop Brad a line.

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