gorillaspace_funding_news

Singapore-based property tech startup GorillaSpace announced an undisclosed seed funding round led by Japanese real estate giant Mitsubishi Estate Co., Ltd. (MEC).

The funding round also included the participation of a consortium of investors including immersive media solutions provider Silversea Media Group.

It followed up the startup’s graduation from Propell Asia, a Singapore-based property tech accelerator programme held by JLL and Lendlease, in November 2018.

e27 has reached out to the GorillaSpace team to find out more details about their plans with the funding.

Founded in 2018 by Ben and Ginny Eckblad, GorillaSpace aims to help businesses find and lease office space, coworking spaces, and serviced offices more easily.

Also Read: Thailand’s FazWaz is strapping for agent tools, machine learning in driving the future of property tech

The platform said it was the first property marketplace to offer both long-term office spaces and flexible workspace options, as well as a hybrid of the two categories (“Core and Flex”).

It included features such as verified listings, 360 degress panoramas, videos, 3D/VR virtual tours and high-definition images, as well as smart recommendation engine.

In the first four months of 2019, GorillaSpace said that it has helped over 1,000 businesses find solutions to their workspace needs.

Since the end of 2018, the startup also claimed a 21.5 per cent month-on-month growth in traffic to the website, as well as over 30 per cent growth in listings on the platform.

For lead investor MEC, this investment marks the first property tech investment it has made outside of Japan, as well as the first seed level investment.

In a press statement, the company said that it has committed JPY10 billion (US$10 million) to discover and partner with new tech companies. The investment in GorillaSpace was part of this initiative.

Image Credit: John Salvino on Unsplash