The Montreal-based proptech firm uses location data to predict housing demand and how neighbourhoods will evolve. Investissement Québec and existing investor GroundBreak Ventures co-led the round, which included participation from Band Capital Partners, Cycle Capital, Desjardins Group, Jones Boys Ventures, Second Century Ventures and Shadow Ventures. (The Logic)
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The Montreal-based proptech firm uses location data to predict housing demand and how neighbourhoods will evolve. Investissement Québec and existing investor GroundBreak Ventures co-led the round, which included participation from Band Capital Partners, Cycle Capital, Desjardins Group, Jones Boys Ventures, Second Century Ventures and Shadow Ventures. (The Logic)
Talking point: The company, founded by three graduate students at McGill University’s school of urban planning in 2015, says its platform creates a “digital twin” of cities using a dataset with over 250 million addresses. Spokesperson Max Leblond said the new financing will allow it to hire more AI researchers to improve predictions, offer new products and expand partnerships with real estate broker websites. It has worked with Sotheby’s, Zillow, Realtor.ca and Royal LePage, among others. Local Logic previously raised $8 million in 2020 in a Series A round also led by GroundBreak Ventures; Leblond said its total funding so far is $27 million.
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