Digital real estate start-up Nawy raises $5 million

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PropTech and real estate sales platform Nawy raised $5 million in its latest funding round, the company announcement Monday (February 14).

The Egypt-based online real estate startup said it would use the money to provide more services and capitalize on digital technologies.

Nawy, which has more than 200 employees, said it uses artificial intelligence (AI), machine learning (ML) and algorithms to develop personalized recommendations for its clients. The concept, he says, is to offer homes that better match their preferences.

Since its founding in 2016, Nawy – originally called Cooing – has helped over 60,000 buyers find homes, sold over $200 million worth of properties and helped thousands of families buy their dream home. , according to the press release.

“…Technology is only scratching the surface when it comes to enabling and supporting the real estate industry in Egypt,” Nawy’s CEO said. Mostafa El Beltagy said in a statement.

With a database of properties listed online, potential buyers can filter their searches using a variety of criteria, including location, price, and square footage. This tool gives users autonomy over their real estate decisions, Nawy said.

When a customer is ready to make a purchase, the company’s brokers provide what they call a seamless transaction process using the expertise of seasoned agents and consultants at no additional cost.

The sale is not the only real estate sector to be digitized. Munich’s Conxai raised $3 million last month to help bring AI to the construction industry, noting that the industry is one of the least digitized.

Read more: By adding AI to the construction industry, Munich’s Conxai raises $3 million

Conxai said its mission is to help the architecture, engineering and construction (AEC) industry use AI to capture underutilized stacks of data and turn it into billions of dollars. in economic value.

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