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March 2nd, 2021

Our Favourite Reads
Selected articles from the (Prop)tech newsroom.

The Economist: The SPACtacular boom on Wall Street
 $120bn were raised by SPACS in the last 12months. Are SPACs a useful innovation, a mania or both?
InnovationOrigins: How Higher Green Standards are Affecting the Housing market
Property developers need to meet higher green standards to appeal to tenants and buyers.
The Real Deal: CoStar Group's Revenue Soared to $1.66billion in 2020.

CoStar revenue soars 19% after year of acquisitions but profits sinks, down to 28% from 2019.

Deals Spotlight
Highlights from Proptech financing and M&A activity.

  • Berkshire Grey, the logistics automation warehouse robotics provider, announced it will go public through SPAC deal valued at $2.7billion
  • CoConstruct, a complementary provider of construction project management software, was acquired by Buildertrend for an undisclosed amount. 
  • Dandelion Energy, the geothermal home heating startup raised $30million from Bill Gates' Breakthrough Energy Ventures.  
  • Dexters, the real estate agency, raised £13million in a private equity round led by Oakley Capital. 
  • Swivel, an agile office leasing platform, has closed an $8million  Series A round led by Jim Breyer of Breyer Capital, with participation from JLL Spark. 
  • Iroko, the easy-to-use mortgage savings platform, raised €3million from IDinvest Partners, HEC Ventures and LO Capital. 

The Fortnightly Pour
Keeping things in perspective with oddities from Earth and beyond.

Inman: Ikea is selling tiny homes
No need to assemble them though. 

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