Integrated Projects – a leading provider of digitization services for building owners and design professionals – announced it has closed $3 million in seed funding. And the funding will be used to expand the current digitization capacity of its Integrated Projects Exchange (IPX) platform from 6 to 60 buildings a day. Integrated Projects’ seed round of funding is being led by 186 Ventures with participation from Founder Collective, Connexa Capital, and Four Acres Capital along with investments from leading real estate executives and institutional landlords including The Fallon Company, Atlantic Management, JLL, and Newmark.
The global adoption of IPX arrives during increasing macroeconomic hardship and new climate-focused regulations throughout the commercial real estate industry requiring owners to accurately report building footprints and spatial characteristics.
Last year, the IPX platform digitized more than 1,700 buildings for individual landlords, architects, and Fortune 500 companies with multi-location real estate portfolios ranging from homes, skyscrapers, schools, hospitals, industrial warehouses, and retail centers – a staggering 725% year-over-year building volume increase. And channel partnerships with leading 3D scanning companies like Matterport and Sitescape FARO have expanded IPX’s reach across North America, Europe, and Australia.
IPX is a digitization platform that helps owners bring their buildings online. And with just a few clicks, owners can onboard their buildings via IPX’s 2 digitization services: SCANIT and BIMIT. And IPX’s SCANIT service mobilizes a LiDAR scan technician to any property across North America to create a construction-grade 3D scan. IPX’s BIMIT service processes any 3D scan into an IPX-verified model. After an IPX-verified model of their property is uploaded, real estate owners can use it to quickly create 2D and 3D plans of their space, view virtual tours and photos, and quantify any onsite material or equipment.
KEY QUOTES:
“Before building owners can proactively design and renovate what should be, we need to first understand what is. By combining 3D scanning and 3D modeling technology, IPX helps owners bring their buildings online with unprecedented accuracy—down to the inch. This makes it possible for owners to take control of their real estate assets by profoundly improving how they view, verify, quantify, and share building characteristics—such as architectural, mechanical, and furniture information.”
— Jose Cruz Jr, Founder and CEO, Integrated Projects
“Digitization of real estate, the largest asset class in the world, needs to happen at lightning speed. The technology and tools required to help all real estate stakeholders quickly and cost-effectively identify any data point related to their entire portfolio is finally here. Jose and the rest of the IPX team are undoubtedly the best equipped to help the real estate industry automate key parts of existing, slow-moving, costly workflows in a way that helps everyone win.”
— Giuseppe Stuto, Co-founder and Managing Partner, 186 Ventures, who will be joining the Integrated Projects board of directors with this financing
“IPX’s platform is a game changer for real estate asset management. Its proprietary 3D technology addresses an acute industry need by providing all key stakeholders with real-time access to critical information.”
— Investor Michael Fallon, CEO of The Fallon Company
