The capital was raised by investment from EDF Pulse Ventures, along with continued support from existing investors Volta Ventures and InnovationQuarter.
The new funds will help drive Spotr’s mission of constructing the world’s most reliable and largest image-driven property database, addressing key challenges such as accelerating decarbonisation and combatting underinsurance.
According to reports, the traditional hurdles associated with obtaining property data at scale, including reliance on outdated sources limited to specific countries, are being tackled by Spotr. Often, physical inspections have been the only reliable alternative, leaving a significant portion of properties un-inspected. Spotr’s ambitious goal is to inspect 100% of these previously untouched properties annually, providing crucial insights to solve issues like underinsurance and support the transition to carbon neutrality.
Spotr technology has a global capability to scan properties anywhere in the world, delivering swift and hassle-free results for its customers. The process reportedly involves gathering images from diverse sources such as satellites and street images, using addresses provided by customers to create a comprehensive digital twin for each property in their portfolio. Leveraging Machine Learning and AI, Spotr conducts large-scale image inspections to identify key characteristics, including materialization, size, condition, and typology.
The funding also opens avenues for collaboration with various EDF group entities, both in France and internationally, with a focus on facilitating the decarbonization of housing and commercial sectors in Europe. Spotr’s technological advancements mark a significant stride toward revolutionizing property data accessibility and addressing critical challenges in the realms of insurance and environmental sustainability.
“With the investment we have extended our executive team with two seasoned and successful entrepreneurs”, said Dirk Huibers, Co-founder and CEO of Spotr. “Bart Jan Hin, former CCO of Rodeo, has come on as CCO and Sander Mulders, former founder Geophy, as CTO. Next to these key hires, we will extend our technology, originally built for housing organisations, in the insurance industry. This allows us to service large enterprise companies like Zurich and local real-estate owners like the Alliantie. Our ambition is to inspect 15 million properties in the next two years.”
Julien Villeret, Chief Innovation Officer at EDF group, added: “Decarbonising housing, which is responsible for 36% of greenhouse gas emissions in Europe, is directly in line with the EDF Group’s raison d’être. The technology developed by Spotr enables us to effectively qualify customers’ needs, so that we can very quickly offer them concrete solutions in terms of energy efficiency and decentralised energy production, such as the installation of solar panels on their roofs.”
Author: Joanna England
