The globally recognised program, RealTechX, will support 12 emerging technology businesses to drive innovation and change through Asia’s built environment sector.
Singapore, 01 September 2021: Taronga Ventures, Asia’s leading built environment technology investor, today revealed its first set of participants in RealTechX Singapore for 2021. The program’s objective is to connect and enable established real estate corporations to engage more effectively with emerging technology businesses in the region.
Based in one of the world’s most dynamic innovation hubs – Singapore – the program is a strategic initiative supported by Enterprise Singapore (ESG) and some of the world’s largest real estate and technology corporations including PGIM Real Estate, CapitaLand, Mitsubishi Corporation, Nomura Real Estate Development, Verizon, and International Towers. The participants will work closely with Taronga Ventures and RealTechX’s program partners to develop and deliver solutions to current and future problems the industry is battling.
Since 2015, venture capital investment into real estate – the world’s largest asset class – has grown 18 times to peak at US$31.6 billion with circa 50% of this investment in Asia.
In recent years global investors and real estate developers have focused their efforts on sustainability but the sector is still responsible for 39% of total carbon emissions globally (UNEP). The intersection between institutional capital, innovation-forward corporates, and emerging technologies is key to changing the future of real estate.
With a core focus on implementing cutting-edge innovations in assets and projects, the third cycle of the RealTechX program comprises leading disruptors such as OpenSpace AI which helps digitize construction projects, construction manpower and resource management software Hubble, logistics and supply chain management platform Voyage Control and others in environmental analytics, smart sensing, and more.
Returning for their third year of RealTechX corporate partnership, Benett Theseira, Managing Director, Head of Asia-Pacific for PGIM Real Estate said, “We are delighted to be the founding corporate partner for RealTechX Singapore and to support the emergence of emerging technology companies in South East Asia – especially those that are focused on Smart Cities and ESG Impact.”
Avi Naidu, Managing Partner, Taronga Ventures said, “We want to express our gratitude to the growing network of industry leaders, government agencies, and partners who continue to support the expansion of RealTechX. Significant change is only possible through collaboration at a whole of an industry level. We believe that this expanding group of partners has the ambition and capability to make that happen.”
Now, more than ever, enterprises, governments, owners, and operators want to know how to deliver a new normal in the built environment. In particular, they are reassessing the role that innovation and technology play in creating more engaging and differentiated experiences of commercial and real estate assets.
Through RealTechX, Taronga Ventures aims to accelerate the appetite for radical, resilient, and sustainable innovation in the Asian real estate industry.
Speaking at the launch of the program, Julian Kezelman, Program Director of RealTechX said, “The breadth and depth of our RealTechX companies evolve with each year. With our move into Asia, we’ve attracted new innovations across construction, asset and facilities management, data sourcing & analytics, and ESG – delivering value right across the built environment spectrum.”
Showcasing support for the RealTechX program, Geoffrey Yeo, Assistant Chief Executive, Urban Solutions, Sustainability & Enterprise Finance of Enterprise Singapore said, “Enterprise Singapore’s deep collaborations with global and local partners aims to enhance Singapore’s position as an innovation hub for the development of smart and sustainable solutions for the built environment sector. The RealTechX innovation program by Taronga Ventures is one such partnership to catalyse more opportunities for co-innovation and provide access to resources and expertise to support high growth startups in the sector. We are pleased to see the participation of innovative local companies such as Hubble, VooX, VRcollab, TransferFi and SmartClean Technologies in the program and encourage them to leverage partnerships with the corporations to sharpen their offerings and access wider opportunities in the region.”
Over the coming years, Taronga Ventures aims to cement its dedication towards the most pressing concerns of the built environment sector, by driving better environmental, social, and governance (ESG) outcomes through its ESG Impact program.
