Viennese StartUp InovaReal receives 250 thousand euros in pre-seed investment for expansion in Slovakia and Gulf region. Digital real estate brokerage solution in focus.
Vienna – InovaReal, a Viennese PropTech startup, has successfully received a pre-seed investment of 250 thousand euros for its planned expansion. Their digital brokerage solution allows customers to manage their properties globally from their cell phones via an app. InovaReal plans to use the funds from the investment round to further develop the product and expand abroad. Expansion into Slovakia is at the top of the list, followed by building a franchise network in GCC countries by the end of the year.
“Similar to many large international companies, we see this region as a great opportunity to get valuable feedback from enthusiastic users of new technologies.”
Lukas Makovsky, CEO InovaReal
Interestingly, 60% of the capital comes from investors in the EU and 40% from the United States. No further details about the investors were provided by the company. The startup plans to be the first from Austria to expand to Slovakia in 2023. Lukas Makovsky, the CEO of InovaReal, said that entering the Slovak market is a priority, as Slovaks are known as early adopters in the technology sector. The region offers a good opportunity to receive valuable feedback from technology enthusiasts. After the pilot phase in Slovakia, the company plans to enter the DACH region.
In addition to the investment, InovaReal was selected among the top 15 in the pre-seed category of more than 150 startups at the AIM Global 2023 Investment Awards in Abu Dhabi. The award not only confirmed the competitiveness of their app, but also opened up interesting business opportunities in the GCC region.
“In May this year, we were selected in the top 15 of the pre-seed category among more than 150 startups at AIM Global 2023 Investment Awards in Abu Dhabi.”
Martin Pavelek, Founder InovaReal
The company is based in Vienna and is part of the “StartUp House Austria” community, which aims to become the “Silicon Valley of Austria.” It is located in the leafy District Two in the center of Vienna, which is already home to other successful innovative startups such as nista.io, Foodnotify, Glasskube and Sparcs. The Vienna Business Agency and AustrianStartps are also located there.
InovaReal has developed a platform that allows users to digitally handle all aspects related to real estate, such as sales, rentals, investments and other services. The app is aimed at both the B2B and B2C segments and supports real estate agents rather than replacing them. Users can not only view properties online, but also complete and sign contracts directly in the application. There is also the option to rate landlords and tenants, similar to Tripadvisor. All repairs and changes to the property during the contractual relationship are recorded digitally. The platform was first presented at WebSummit in Lisbon, Portugal, in November 2022.
