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August 22, 2022

Modoplus: six-figure pre-seed financing for real estate software

With a software solution based on artificial intelligence, the startup Modoplus from Hamburg analyzes the development potential of real estate locations in real time. It has now received 550,000 euros in a pre-seed round to further develop the product and expand the team.

Finding suitable locations with development potential is still a big challenge for many players in the real estate industry. Modoplus enables them to determine inventory and potential data in real time, such as the current utilization of a site, the structural potential or even the solar potential on roofs and open spaces. An artificial intelligence system uses a large amount of geodata to draw conclusions about a property's development potential.

© Amrit Schliesing: the founders of Modoplus,  Leif Buchmann, Julian Bauer and Tolga Babacan
© Amrit Schliesing: the founders of Modoplus, Leif Buchmann, Julian Bauer and Tolga Babacan

Modoplus is on course for expansion

At present, Modoplus is only available in Hamburg. Current plans call for opening up four more German states and a total of five metropolitan areas by October. By the beginning of 2023, the expansion should reach the whole of Germany. Work is also underway to expand the target groups. At the moment, Modoplus is focusing on brokerage houses and project developers, soon to be followed by architecture firms, cooperatives, housing companies, cities and municipalities.

The startup, founded in 2021, is headed by Julian Bauer (CEO), Leif Buchmann (CPO) and Tolga Babacan (CTO). The investor consortium consists of several experienced business angels from the proptech industry. More detailed information was not provided.

"We are pleased that we were able to close the financing round in a period of only about six weeks despite the current market situation and thank our investors for their trust."
Julian Bauer, CEO of Modoplus.

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