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RealTechX is focused on innovation growth program for companies impacting real estate

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Taronga group

12 of the most innovative emerging global Real Estate Technology companies chosen from 182 applicants and more than 22 countries

Real estate technology investor Taronga Ventures has today announced the 12 successful applicants to the inaugural RealTechX Growth Program (‘RealTechX’). 

RealTechX is an innovation program that supports emerging technology businesses in the real estate sector and the wider built environment (’RealTech’) to achieve sustained growth. The program participants will work alongside Taronga Ventures and RealTechX program partners, including some of the biggest names in the real estate sector both locally and worldwide, to develop and deliver solutions to current and future problems the industry is grappling with. 

Unlike typical incubator and accelerator programs, RealTechX supports late-stage growth businesses (i.e. not start-ups or scale-ups) that have a track record of successful implementation and are positioned to have an immediate impact on the real estate sector. 

Each of the 12 selected growth businesses will receive capital investment from the Real Tech Ventures Fund, market access to corporate partners and will participate in a structured program focused on growth and global expansion. 

Program Partners 

RealTechX is supported by a network of leading real estate corporates that are seeking to differentiate their portfolios through the use of technology and drive industry change through innovation. 

To date, RealTechX has secured five leading real estate corporate partners – Dexus, ISPT, Lendlease, Australian Unity and PGIM Real Estate – each seeking to implement new innovations and technologies in their assets and businesses across the region. 

The program is also supported by the Commonwealth Department of Industry, Innovation and Science, as well as professional services partners (KPMG High Growth Ventures, KPMG Legal, BWM Dentsu), tertiary and research partners (UNSW, Monash, UTS, CSIRO’s venture commercialisation ON program) and the entrepreneurship programs of leading global technology corporates (AWS, Microsoft, IBM and Google). 

Successful Applicants 

Selected from 182 program applicants, the final group of 12 participants includes: 

PARTICIPANT   WEBSITE   DESCRIPTION OF BUSINESS  
Calumino   www.calumino.com   Thermal imaging technology for people monitoring with first use case focused on aged care, monitoring resident falls, prolonged stillness and changes in resident temperature     
Cityzenith   www.cityzenith.com   ‘Digital twin’ platform that creates a digital model of real estate assets and building systems to monitor asset performance in real-time and over the asset lifecycle     
Cognian   www.cognian.com   Smart building infrastructure technology installed into building lights to create a mesh network of connectivity to allow other internet-of-things devices to connect     
Conqa   www.conqahq.com   Quality assurance data collection for construction sites allowing trades, subcontractors and general contractors to document the standard of work delivery     
Groundfloor   www.groundfloordelivery.com   On-premise smart parcel locker system, accepting deliveries from all courier companies and allowing recipients to collect parcels in building immediately     
Liftango   www.liftango.com   Shared mobility platform offering occupants alternate forms of transport to-and-from precincts by 1) on-demand bus services and 2) corporate car pooling     
Local Measure   www.localmeasure.com   Suite of tools to identify engage, connect and retain customers in retail and hospitality, drawing from a range of passive and collected data sources     
OpenSpace   www.openspace.ai   360 degree image solution that captures job site progress (through a 360-camera mounted on a helmet) and shares information through a visualisation platform     
Switch   Automation    www.switchautomation.com   Insight platform that integrates building data, systems and equipment to give actionable insights into site and portfolio performance     
TCPinpoint   www.tcpinpoint.com   Cloud-based platform with predefined processes to simplify and speed up the lease-to-open process for new retail tenancies     
Work Club   www.workclubglobal.com   Sophisticated private and collaborative office spaces with premium amenities and a hospitality-influenced occupant experience     
Ynomia   www.ynomia.io   Low-energy, Bluetooth-enabled IoT network that captures real-time insights on the location and movement of materials and machinery on construction sites     

Key statistics from the participant group include: 

• Eight Australian companies and four international companies 

• Aggregated +$300 million valuation across the portfolio 

• Historical revenue doubled from FY2018 to FY2019 

• Future revenue forecast to double from FY2019 to FY2020 

• Total of 36% of females in senior management positions 

Jonathan Hannam, Managing Partner, Taronga Ventures, said the program has been designed to bridge the gap between corporate real estate owners and the emerging businesses that are now targeting the real estate sector. “Our focus is on driving change through the real estate sector, enhancing portfolio returns and delivering real and measurable results for our investors and corporate partners.” 

“The global real estate and built environment sector is evolving rapidly and this was an incredibly challenging process as the calibre of applications was so high. With each of the twelve participants we have identified companies that can be quickly implemented and deliver immediate returns.” Mr Hannam said. 

“We look forward to working closely with these well-deserving businesses and our program partners to build on their incredible achievements to date and help them expand into new APAC markets at scale.” 

About Taronga Ventures, the RealTech Ventures Fund and RealTechX Taronga Ventures, through its RealTech Ventures Fund, is a technology and innovation investor focused on innovation for the built environment. The Fund is an institutional venture fund that invests into globally scalable entities that will enhance or challenge the way real estate is designed, procured, financed, developed and managed across all sectors. The Fund is focused on developing a diverse portfolio covering sustainability, design, materials and software and provides capital, mentorship and global networks for those companies in which it invests, as well as first-mover advantage for the corporates that participate in the Fund. Taronga Ventures has extensive experience across global markets and asset classes and is supported by strategic and institutional partners across Asia, the Middle East and Europe. RealTechX is Asia’s first industry-focused independent innovation growth program for companies impacting real estate and the wider built world. 

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