Spotr, a Dutch AI-powered property data platform, has secured € 4.5 million in funding from EDF Pulse Ventures and existing investors Volta Ventures and InnovationQuarter to propel its mission of building the world's most reliable & largest image-driven property database. This significant investment will further Spotr's goal of addressing critical challenges like accelerating decarbonization and combating underinsurance.
Traditionally, obtaining property data at scale has been a difficult task, due to outdated data sources which are often limited to specific countries or even unavailable altogether. The only reliable alternative has been to do a physical inspection, leaving 98% of properties un-inspected. Spotr's mission is to inspect 100% of these un-inspected properties every year to gain insights that solve major problems like underinsurance and the move to carbon neutral.
Spotr distinguishes itself by its ability to scan properties anywhere in the world and deliver results in no-time with a zero-hassle-implementation for customers.
To do this they first gather images from sources like satellite and street images using a list of addresses given by their customers, constructing comprehensive digital twin of every property in the portfolio. With their Machine Learning and AI, Spotr then conducts large-scale image inspections to identify characteristics such as materialization, size, condition and typology.
Several EDF group entities are in discussion with Spotr, both in France and abroad, to facilitate the decarbonization of housing and commercial sectors in Europe.