Property technology company Spaceti recently announced that it has received a new round of funding to help boost the company's growth and international expansion.
According to a press release, funding was provided through Watheeq Proptech Venture and Venture to Future Fund and will help to expand the company's product offerings and increase its accessibility for Small and Medium-Sized Enterprises (SME).
"There has been a rapid growth in the adoption of digital technologies in the real estate sector, but the sector requires comprehensive knowledge," Khaled Zaidan, managing partner at Watheeq Proptech Venture said, according to the press release. "Spaceti is the heart of this acceleration, improving sustainability, well-being and reducing costs. Based on that, we are proud to have Spaceti as our first investment opportunity in Europe. We are looking to assist the company in expanding their solutions to the MENA region."
Spaceti will use a portion of the funding to expand its engineering teams in Czechia and Slovakia and open regional headquarters in KSA and the U.S., according to the press release.
"As the demand for safe and smart working spaces in the post-COVID world rapidly increased, VFF sees huge potential in the PropTech sector, and Spaceti proved it has what we have been looking for to bring these solutions to more customers globally and in Slovakia as well," Matej Říha, chairman of the board of directors at Venture to Future Fund said, according to the press release.
Spaceti's solutions platform is distributed in more than 20 countries.