The company, which aims to help real estate startups reach commercial scale, will use the money to expand partnerships with firms tackling anything from housing affordability to climate-related building. Global engineering giant Hatch led the round, while Toronto real estate investor Oxford Properties, Dorsay Development and LandSure Systems also participated. (The Logic)

Talking point: R-Labs raised the money at a time when housing affordability is a top concern and startups are racing to get a piece of the residential construction sector. R-Labs has worked with companies including OneClose, a startup that offers mortgage applications for new condo owners, and Noah, which provides flood risk information to analysts and home buyers. Hatch CEO John Bianchini said in a statement that the partnership with R-Labs would help “tackle some of Canada’s—and the world’s—biggest challenges.”