DWS becomes latest investor to back proptech startup Skyline AI

DWS Group has become the latest investor to back Skyline AI, a property-technology startup.

The €692bn asset manager said it has entered into a “strategic partnership” with and has become a minority shareholder in real estate asset management technology company. Financial details were undisclosed.

Skyline AI uses artificial intelligence to source, analyse, acquire, manage and sell institutional-grade real estate investment opportunities throughout the US.

As part of the deal, DWS’s real estate research team and Skyline AI’s data scientists will collaborate to further develop Skyline AI’s proprietary technology, the manager said.

Pierre Cherki, DWS board member and co-head of the investment group at DWS, said: “This is another step in our strategy to leverage DWS product capabilities to support our clients and make investments where we see opportunities to create value.

“Collaborating with an early stage company that uses AI to bolster efficiency and enhance the real estate investment process supports our overall aim of pursuing value for our clients through comprehensive and innovative investment strategies.”

Guy Zipori, the co-founder and CEO of Skyline AI, said: “We are thrilled to be collaborating with DWS. Their expertise and long-standing real estate investment operations create a good climate for our technology to thrive.

“The commercial real estate market is on the cusp of a seismic change, and those who are agile enough to adopt new strategies and technologies are going to shape the new economic reality.”

Founded in 2017, Skyline AI received $3m (€2.6m) in seed funding from Sequoia Capital in March this year. In July, company raised $18m from investors including TLV Partners, JLL’s Spark business, NYCA Partners, Arbor Ventures and iAngels.

Real estate managers have recently increased their exposure to property technology companies.

Just last month, Patrizia Immobilien acquired an interest in Evana, an artificial intelligence business. JLL also acquired ValuD Consulting, a provide of IBM software integration and consulting services in the US and India. 

Previously, JLL launched JLL Spark to make strategic investments and incubate proptech startups. JLL Spark has recently announced the creation of its $100m Global Venture Fund for investment in companies innovating in proptech.

 

 

 

 

 

 

 

Related images

  • Skyline AI

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2496

    Asset class: Commodities.
    Asset region: World.
    Size: CHF 100 – 150 m.
    Closing date: 2018-12-12.

  • QN-2498

    Asset class: Fixed Income Investment Grade.
    Asset region: Global Developed Markets.
    Size: $50m.
    Closing date: 2019-01-07.

  • DS-2499

    Closing date: 2019-01-02.

Begin Your Search Now