Accelerated by HabiSmart, the PropTech acceleration program of the CDP Venture Capital National Accelerator Network, managed by Zest.
The startup develops AI-based digital services that streamline the processes of property buying, renovation, and enhancement.
Newarc, a PropTech startup offering AI-powered digital services to facilitate property transactions, renovation, and enhancement, has closed a €800,000 seed investment round.
The capital raise was subscribed by a group of business angels and the follow-on investment from the HabiSmart PropTech Accelerator of the CDP Venture Capital National Accelerator Network, with investors including the CDP Venture Capital Accelerator Fund, Zest, Nova Capital, and COIMA.
Newarc: Revolutionizing Real Estate with AI
Newarc simplifies and enhances real estate transactions through digital solutions and AI technologies, offering a range of services that cover the entire real estate value chain, aiming to maximize property value. The services include Newarc Insieme, Newarc Subito, and Newarc Immagina.
Newarc Insieme suggests the most suitable renovation project to unlock the full potential of properties intended for sale.
Newarc Subito is the startup’s dedicated instant buyer service.
Newarc Immagina allows property buyers to visualize their potential homes through furnished floor plans, virtual tours, and video renderings.
The Core Technology: Tiresia
The technological backbone of Newarc is Tiresia, a proprietary AI valuation system trained on 70 variables and over 1 million properties. Tiresia enables accurate property appraisals and supports real estate agencies in generating comprehensive, clear, and precise valuation reports.
Expansion Plans and Technological Development
With the capital raise completed, Newarc aims to expand its operations to all major cities in Italy, starting with Turin, Milan, and Rome. The company plans to enhance the development of Tiresia and create a next-generation property render configurator, essential for launching Newarc Immagina.
A Journey of Growth
Newarc was accelerated in 2022 by the first edition of HabiSmart, the CDP Venture Capital acceleration program managed by Zest, with COIMA, Ariston, Nova Capital, and Mass Challenge among the program's promoters.
"The acceleration program allowed us to connect with well-established real estate giants, as well as other startups with whom we shared both challenges and successes. These experiences helped us grow and invest more in people, technology, and real estate operations. This capital raise fuels our growth journey, aiming to improve the real estate transaction process by leveraging technology to bring the reliability and concreteness the sector demands," said Edoardo Tabasso, CEO and Co-Founder of Newarc.