The immediate future for proptech startups is knuckling down, getting to business, and maybe not depending so much on raising money.
In this case, though, the future was presaged by the past year. A report from the Center for Real Estate Technology & Innovation (CRETI) shows that 2022 was largely a down year for funding real estate-related technology companies from venture capital groups, which would include some of the venture arms of the bigger CRE companies.
According to CRETI's count, proptech companies raised $19.8 billion in total globally from venture capital firms in 2022. That was down 38% from 2021's nearly $32 billion. That's the second lowest investment year since 2018.
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