Yahoo Finance London-based proptech company expands to US
A London-headquartered ‘proptech’ company that helps developers with land buying insights, said it has secured £10 million in growth capital and expanded to the US, with a debut Florida office just launched.
LandTech, which was founded in 2014, provides insights and data around off-market development opportunities, such as potential costs on projects and the likelihood of schemes getting planning permission.
The firm said it has secured latest growth capital, £10 million, from Canada’s CIBC Innovation Banking.
That follows £42 million of series A funding in 2021 from companies including Washington DC-based UpData Partners.
LandTech has now opened its Florida office with a 10-strong team. Its data will focus on that US state, but will soon expand.
Co-founder Jonny Britton, a former town planner, said: “Florida marks our first foray outside of the UK. Our latest capital injection will be used for soon to be announced acquisitions to bolster our product suite.”
The company is used by various housebuilders, councils and commercial developers. To date, the platform has been used to help around 60,000 properties be developed.
