Glasgow-based technology company PropEco, which has developed a platform to assess the long-term sustainability and value of properties, has successfully raised £275,000 in seed funding.
The capital will be used to drive PropEco’s mission to empower property professionals, insurers, and lenders with cutting-edge data and analytics to better understand the impacts of rapidly evolving social and environmental trends, particularly climate change. The funding will also support the company’s team expansion and product development as it gears up for international expansion over the next 12 months.
The funding round was led by London-based venture capital firm Symvan Capital, renowned for supporting early-stage tech startups, with additional participation from the University of Strathclyde’s Inspire Entrepreneurs Fund.
PropEco’s focus centres on three key areas—transition climate change risks, physical climate change risks, and impacts on wellbeing—to deliver a comprehensive assessment of the long-term value of properties and locations.
The company’s AI-driven platform continuously analyses data from thousands of sources, many of them proprietary, to provide detailed insights into factors like evolving flood risks, air quality, and green retrofit potential. These insights power various products and services, including an API, a portfolio assessment service, browser-based risk assessment tools and property reports.
By offering these in-depth insights in a cost-effective and accessible way, PropEco helps clients achieve better risk management, cost and time savings, enhanced regulatory compliance, and increased customer retention.
Founder and CEO Chris Hardman, a serial entrepreneur known for his work in developing cleantech innovations, said: “Symvan Capital and the University of Strathclyde’s decision to invest in PropEco underscores the growing importance of integrating environmental and social factors into financial and property decisions.
“With increasing awareness of the risks that trends such as climate change pose to the built environment, PropEco is well-positioned to capitalise on growing market demand and establish itself as a leader in the emerging field of climate-conscious property technology.”
He added: “Current methods of assessing risk in both commercial and residential properties are not suited to address the complexities of rapidly changing environmental and social conditions. We are facing systemic issues that demand a data-driven approach, offering granular property-level insights for more resilient decision-making.”
Symvan Capital, established in 2013, focuses on business-to-business (B2B) software-as-a-service (SaaS) providers. Its investment approach is aligned with government-backed initiatives such as the Enterprise Investment Scheme (EIS) and the Seed Enterprise Investment Scheme (SEIS), which offer tax benefits to investors.
Investment Manager Allen Xu said: “We are excited to support PropEco in its mission to positively impact how the property sector approaches climate risk. At Symvan Capital, we understand the importance of integrating advanced analytics into decision-making, particularly as the climate crisis accelerates the need for such innovations.
“PropEco’s cutting-edge platform not only tackles critical data challenges in a fast-changing market but also helps pave the way for a more resilient and sustainable property sector. This aligns perfectly with our goal of backing visionary founders like Chris, who are driven to solve current challenges with determination and expertise.”
Anne Henderson, Interim Head of Investment at the University of Strathclyde, added: “As a socially progressive, values-driven organisation, the University of Strathclyde is proud to support PropEco through our Strathclyde Inspire Entrepreneurs Fund, alongside our investment partner. Strathclyde is dedicated to supporting entrepreneurs and innovative companies that make a positive difference.”