The Hague, 23rd January 2024 – 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Traditionally, obtaining property data at scale has been a difficult task, due to outdated data sources which are often limited to specific countries or even unavailable altogether.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.
Building the world's most reliable & largest image-driven property database
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.
"With the investment we have extended our executive team with two seasoned and successful entrepreneurs", says 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: "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."
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About Spotr
Spotr is a Dutch AI-powered property data platform, located in The Hague, The Netherlands and employs 25 fte. Founded in 2021 by Dirk Huibers (CEO), Tara Campagne (CPO) and Marieke Dijksma (Product Design), who bring a wealth of experience in building science, Spotr is redefining the way building inspections are conducted. Spotr is currently active in The Netherlands, UK, Ireland, France, and Sweden. For more information about Spotr and its AI-powered property inspection platform, please visit www.spotr.ai or watch a demo here.
About EDF
A major player in the energy transition, the EDF group is an integrated energy company, active in all business lines: production, transport, distribution, trading, energy sales and energy services. Leader in low-carbon energies in the world, the Group has developed a diversified production mix based mainly on nuclear and renewable energy (including hydropower) and invests in new technologies to support the energy transition. EDF's raison d'être is to build a CO2-neutral energy future that reconciles preservation of the planet, well-being and development, thanks to electricity and innovative solutions and services. The Group participates in the supply of energy and services to approximately 39.8 million customers (1), including 30.3 million in France (2). In 2022, it will have generated consolidated sales of 143.5 billion euros.
Within EDF's innovation department, EDF Pulse Ventures' mission is to identify new activities and innovative solutions outside the EDF group, to develop the investment portfolio carried by EDF Pulse Holding in start-ups and in venture capital funds. Since 2017, around 500 million euros have been invested in 30 internal or external start-ups and in 21 investment funds, mainly in France, but also in Europe and North America.
(1) Customers are counted by delivery site; a customer can have two delivery points: one for electricity and another for gas.
(2) Including ÉS (Électricité de Strasbourg) et SEI.
About Volta Ventures
VoltaVentures provides (pre)seed and early-stage financing for software & internet companies that originate in the Benelux. Next to capital, the fund’s team assists companies in growing from a startup to scale-up.
About InnovationQuarter
InnovationQuarter is the regional development agency for the greater Rotterdam – The Hague area. It invests in innovative, fast-growing local enterprises and helps transnational companies become established in this unique delta region. As a lifecycle financier, InnovationQuarter finances companies in different cycles of their business growth and draws its investments from four funds: InnovationQuarter Capital, UNIIQ, ENERGIIQ, and the Energy Transition Fund.
