Rode Publications concludes strategic fundraise with REdimension
Rode Publications (Pty) Ltd, recognised as Rode Publications & Media, a prominent source of real estate market research and insights extensively used in South Africa’s property and financial services industries, is pleased to announce a strategic investment agreement with REdimension Capital.
This announcement marks a significant step in Rode Publications & Media’s evolution, positioning it for digital transformation and expansion in the real estate market intelligence sector. The investment, made from the REdimension Real Estate Technology and Sustainability Fund I, will enable the company to enhance its platform and offer more accessible, data-driven insights to real estate professionals.
Founded in 1987, Rode & Associates Property Consultants and Valuers built its reputation in real estate economics, property valuations, property market research, and property consultancy. Over the years, the business evolved into two distinct product lines: property valuations and market research and insights. Notably, the company pioneered the regular and rigorous surveying of market rental levels and capitalisation rates in South Africa, which set the foundation for property valuation benchmarking in the country. In 2024, Rode Publications & Media was established as a separate entity, resulting in the rebranding and digitisation of Rode’s market research and intelligence capabilities.
By leveraging its well-established brand and extensive datasets, Rode Publications & Media aims to become the premier source for real estate intelligence in South Africa and potentially expand across Africa. This aligns with the increasing industry demand for real-time data, transparency, and efficiency in property-related decision-making.
Commenting on the transaction, Gavin Commins, director of Rode Publications & Media said, “The investment from REdimension represents a major milestone for Rode Publications & Media. Leveraging their strategic expertise, networks and resources, we are well-positioned to accelerate growth and develop a fit-for-purpose and innovative intelligence platform. Coupled with the exceptional team we are assembling, we will reimagine how data, analytics and insights are accessed, consumed and applied by a broad range of real estate stakeholders.”
Peter Clark and Matthew Marshall, the Partners at REdimension Capital, commented: “Rode Publications is a long-standing producer of research publications used extensively throughout the property and financial services sectors. We see the market opportunity to create a comprehensive and leading digital market intelligence platform for the real estate sector. Rode is very well positioned to create a new standard for real estate data, analytics and market insights in South Africa, and we are excited to support and contribute to its success.”
About Rode Publications & Media
Founded in 1987, Rode & Associates was a property valuations and publications business. Born out of the Rode & Associates acquisition by The Valuator Advisory in 2024, Rode Publications & Media was established as a new company to house the market research and insights business of the former Rode & Associates.
Currently, Rode Publications & Media produces market-respected research that is extensively used throughout the property and financial services sectors in South Africa and a variety of tangential industries. This research includes a significant range of proprietary and third-party market data and analysis garnered over almost four decades. In addition to complex statistical information, the ongoing research provides commentary on the state of the South African property market with forecasting based on market trends.
About REdimension Capital
REdimension Capital was established in South Africa in 2021 to accelerate innovation in the built environment. Leveraging the unique blend of property-centric skills and experience of its founders, the company has created an ecosystem at the intersection of real estate, technology and sustainability to enhance operational performance and improve sustainability in the built world. REdimension Capital has adopted an advisory-based approach to investing and works closely with strategic corporate partners to advise, invest and innovate future technology. REdimension Capital manages the REdimension Real Estate Technology and Sustainability Fund I, backed by Burstone Real Estate Partners, Growthpoint Properties, Rand Merchant Bank, Liberty Group, and Sphere Holdings, among others. REdimension Capital is a registered Financial Service Provider (No. 52205).
Contacts
Rode Publications
Mark Pettipher
mark@rodemedia.co.za
www.rodemedia.co.za
REdimension Capital
Peter Clark
Matthew Marshall
Aphiwe Qaba
info@redimensioncapital.com
www.redimensioncapital.com
The Good People Data Company welcomes investment from REdimension
December 2024, Johannesburg – The Good People Data Company, a market leader in digital workflow automation, verification processes, and compliance solutions, is proud to announce that it has agreed terms with REdimension Capital regarding a highly strategic investment into the company.
The transaction is the fourth investment for the REdimension Real Estate Technology and Sustainability Fund, a fund advised by REdimension Capital and backed by strategic partners including Burstone Real Estate Partners, Growthpoint Properties, Rand Merchant Bank, Liberty Group and Sphere Holdings, amongst others.
Founded in 2018, The Good People Data Company is a registered credit bureau specializing in cutting-edge solutions that streamline customer, employee, and supplier onboarding processes while ensuring regulatory compliance and operational efficiency. Over six years, the company has built a robust reputation, working with some of South Africa’s most prominent brands and partnering with the Southern African Fraud Prevention Services (SAFPS) to combat fraud, money laundering, and impersonation crimes.
“The investment from REdimension represents a significant milestone for The Good People Data Company,” said JK du Toit, CEO. “With their strategic expertise and resources, we are well-positioned to accelerate our growth, expand into new markets, and continue driving innovation in the verification, compliance, and workflow automation sectors. Together, we will redefine how African businesses navigate the challenges of a digital-first world.”
As digital services expand across Africa, the demand for reliable verification and screening solutions has surged, alongside a 356% rise in digital impersonation fraud attempts from April 2022 to April 2023 according to the Southern African Fraud Prevention Services. The Good People Data Company’s innovative platforms address these challenges with advanced technologies, including biometric verification, anti-money laundering (AML) screening, and real-time compliance checks. By automating labor-intensive processes, the company reduces compliance costs, enhances accuracy, and empowers businesses to counter sophisticated fraud tactics effectively, while also enabling companies to meet growing regulatory requirements.
In addition to verification, the company offers a comprehensive suite of digital solutions, such as contract and lease automation, document management, bank statement retrieval, income and expenditure classification, credit and asset profiling, and collusion monitoring. These tools are tailored to meet the complex and evolving needs of businesses across Africa.
“The backing from REdimension reinforces our mission to deliver scalable, impactful solutions that enable businesses to thrive in an increasingly digital and interconnected world,” added du Toit. “This partnership allows us to further enhance our services and expand our reach, ensuring we remain at the forefront of Africa’s digital transformation.”
Peter Clark, Managing Partner at REdimension Capital, commented: “The Good People Data Company is setting the standard for digital transformation and inclusion in Africa. Their innovative technology not only addresses critical challenges but also unlocks opportunities for sustainable growth. We are excited to support their journey and contribute to their continued success.”
This strategic partnership reflects The Good People Data Company’s long-term vision to lead in verification, compliance, and automation solutions while fostering economic growth across Africa. Together with REdimension Capital, the company aims to shape the continent’s technology landscape and drive sustainable impact.
About The Good People Data Company
Founded in 2018, The Good People Data Company is a registered credit bureau and leader in digital workflow, verification, and compliance solutions. The company empowers businesses across Africa to streamline processes, meet regulatory requirements, and enhance operational efficiency through innovative technology.
About REdimension Capital
REdimension Capital was established in South Africa in 2021 to accelerate innovation in the built environment. Leveraging the unique blend of property-centric skills and experience of its founders, the company has created an eco-system at the intersection of real estate, technology and sustainability with the ambition of enhancing operational performance and improving sustainability in the built world. REdimension Capital has adopted an advisory-based approach to investing and works closely with strategic corporate partners to advise, invest and innovate future technology. REdimension Capital is a registered Financial Service Provider (No. 52205).
Contacts
The Good People Data Company
JK du Toit
REdimension Capital
Peter Clark
Matthew Marshall
RE-TEC Solutions announces strategic investment from REdimension
RE-TEC Solutions, a pioneering prop-tech company providing intelligent technologies aimed at revolutionising the management of retail property assets, is pleased to announce that it has received a strategic investment from the REdimension Real Estate Technology and Sustainability Fund, a fund advised by REdimension Capital. The investment from REdimension marks a significant milestone for RE-TEC, empowering the company to expedite its platform development roadmap and bolster its growth strategy across South Africa and targeted global markets.
RE-TEC’s innovative platform empowers shopping centre owners and managers by providing aggregated data and insights within an integrated, digital property management platform, fostering streamlined processes and seamless connectivity between landlords, tenants and service providers. Through smart decision-making capabilities, operational efficiency enhancements, heightened tenant engagement, reduced administrative overheads, and augmented rental revenue, RE-TEC adds substantial asset value to commercial properties. The value proposition is endorsed by RE-TEC’s blue chip listed REIT clients who have adopted existing modules and are partnering in the growth roadmap of the platform to drive value in their portfolios.
Established in 2022 in South Africa by retail development, management, and marketing experts in conjunction with technology solutions specialists, RE-TEC benefits from a founding team with extensive global relationships and deep understanding of the retail, real-estate and technology landscape. RE-TEC has also proudly partnered with Empire Partner Foundation and its world-class development team to continue to drive product enhancements while empowering and nurturing young tech talent on the continent.
The investment, coupled with access to REdimension’s extensive network of investors, owners, and operators, will enable RE-TEC to access and collaborate with the market’s leading real estate owners and managers to optimise its product suite, maximizing valuation creation for its client base and accelerating its expansion in South Africa and globally.
Aileen Rodel, Co-Founder and CEO said, “Our vision at RE-TEC is to create a seamlessly connected ecosystem where retail, real estate, and technology solutions converge to redefine how property is managed. We are committed to continual innovation within the industry to enhance asset value, operational performance and drive sustainability outcomes, and are excited to partner with REdimension who share this commitment.”
Commenting on the transaction, Peter Clark, Managing Partner of REdimension Capital said: “We are thrilled to be partnering with RE-TEC on its innovation journey. Following extensive work on the market and company, we believe their approach to servicing the retail real estate sector is poised to revolutionise how landlords and tenants interact, make data driven decisions, and optimize operations and utilities. With a dynamic team and robust technology, we’re confident in their ability to drive significant value in this rapidly evolving industry.”
About RE-TEC Solutions:
RE-TEC Solutions is a prop-tech company offering intelligent management technologies to the retail and real estate markets. Through its integrated digital property management platform, RE-TEC empowers landlords and tenants with aggregated data and insights, enhancing operational efficiency and asset value.
About REdimension Capital:
REdimension Capital was established in South Africa in 2021 to accelerate innovation in the built environment. Leveraging the unique blend of property-centric skills and experience of its founders, the company has created an eco-system at the intersection of real estate, technology and sustainability with the ambition of enhancing operational performance and improving sustainability in the built world. REdimension Capital has adopted an advisory-based approach to investing and works closely with forward-thinking strategic corporate partners, including Burstone Real Estate Partners, Growthpoint Properties, Rand Merchant Bank, Liberty Group and Sphere Holdings, amongst others, to advise, invest and innovate future technology. REdimension Capital is a category 1 Financial Service Provider (No. 52205).
For further inquiries, please contact:
RE-TEC Solutions
Aileen Rodel
+27 72 512 5332
REdimension Capital
Peter Clark
+27827418543
admyt agrees transformative fundraise backed by REdimension
admyt, South Africa’s leading ticketless parking company focused on elevating the parking experience, is pleased to announce that it has agreed terms with REdimension Capital regarding a c. ZAR30 million investment into the company. The investment will be used to drive product enhancements, expand the number of admyt-enabled locations and to scale its dominant user base across its focused nodes in South Africa.
The transaction is the first investment for the REdimension Real Estate Technology and Sustainability Fund, a fund advised by REdimension Capital and backed by strategic partners including Burstone Real Estate Partners, Growthpoint Properties, Rand Merchant Bank, Liberty Group and Sphere Holdings, amongst others.
On a mission to change the way people think about parking
admyt was founded in 2015 as a company focused on enhancing the parking user experience, providing seamless and ticketless access to retail, office and mixed-use properties across South Africa. Leveraging licence plate recognition software, the company has managed over 9 million parking events since its establishment and today boasts a user base of over 120,000 consumers across 60 sites in South Africa. admyt’s range of parking solutions include paid parking, tenant and visitor parking, bay bookings, parking market-places and more, with data and reporting tools providing insights into parking analytics and areas of optimisation.
A highly strategic transaction
The transaction reflects REdimension Capital’s view that an improved user experience for real estate starts at the point of entry. Ticketed parking, currently an onerous process, is at an inflection point where new technologies such as those provided by admyt, are gaining significant traction with consumers. In addition, lower operational costs, enhanced consumer data and insights, and the environmental benefits of ticketless parking, provide demonstrable benefits to landlords. The company also has numerous additional product enhancements in development which will further drive the value proposition to landlords and consumers.
The investment represents a strategic milestone for admyt. The growth capital, combined with access to REdimension Capital’s broad network of investors, owners and operators, will allow admyt to collaborate and optimise its product offering, open up new focus nodes across South Africa and accelerate growth of its user base.
Kfir Rusin and Devon Beynon, Joint Chief Executive Officers of admyt said: “2023 has been another year of significant momentum for admyt, marked by successful launches at V&A Waterfront, Table Bay Mall, and numerous other strategic locations. Building on this success, this transformative investment from REdimension will play a pivotal role in accelerating our growth, enabling us to expand our presence across major metros in SA and allowing us to reach a broader user base. The funding also supports our commitment to enhancing our product experience and optimising asset performance for landlords. We are particularly excited about our partnership with REdimension, as their strategic approach aligns perfectly with our focus on deeper landlord collaboration and partnerships that leverage technology for better outcomes. This investment is a crucial step towards fulfilling our vision of a fully ticketless future, bringing greater efficiency, sustainability and an enhanced user experience.”
Jordan Wainer, the founder of admyt, commented: “As the founder of admyt, witnessing our company embrace this dynamic new chapter with REdimension is truly exhilarating. Since inception, admyt has navigated through numerous fascinating phases, each contributing to our rich history of innovation in digital parking management. REdimension are much more than investors; as strategic partners they bring a depth of expertise and forward-thinking perspectives. I believe this collaboration is a catalyst for extraordinary growth and sets the stage for us to continue revolutionising the parking experience. It will also fortify our commitment to building further customer-centric solutions.”
Commenting on the transaction, Peter Clark, Managing Partner of REdimension Capital said: “We are thrilled to be partnering admyt as a company focused on enhancing convenience and efficiency through a seamless parking journey. We focus on investments that deliver a demonstrable impact on how real estate is owned, used and managed with an acute focus on lowering the sector’s carbon footprint. admyt’s highly innovative offering, and traction in the market, aligns with these principals and we look forward to working with their exceptional team to continue to drive a better user experience for consumers and landlords alike.”
About admyt: admyt is a leading digital parking management platform which uses license plate recognition (LPR) software and smartphone technology to offer cashless, ticketless & touch-less parking. With a track record of delivering world-class, tech-enabled ticketless parking since 2015, admyt is trusted by prominent property owners and operators, and its offering can be found at leading retail, office, and mixed-use precincts across South Africa.
About REdimension Capital: REdimension Capital was established in South Africa in 2021 to accelerate innovation in the built environment. Leveraging the unique blend of property-centric skills and experience of its founders, the company has created an eco-system at the intersection of real estate, technology and sustainability with the ambition of enhancing operational performance and improving sustainability in the built world. REdimension Capital has adopted an advisory-based approach to investing and works closely with strategic corporate partners to advise, invest and innovate future technology. REdimension Capital is a category 1 Financial Service Provider (No. 52205).
Contact
Admyt
Devon Beynon
Kfir Rusin
REdimension Capital
Peter Clark
Matthew Marshall
Africa Proptech Forum Start-up Competition
ARE YOU AN AFRICAN PROPTECH START-UP?
Africa Proptech Forum 2023 Start-Up Competition, powered by REdimension Capital and Investec Property Fund, is seeking to attract, showcase and reward the most innovative, early-stage African companies, addressing the technological and sustainability needs of the continent’s property market.
The competition is open to start-ups from across Africa, and provides a platform to pitch your business to industry leaders, VCs, accelerators and potential new customers.
ENTER NOW
COMPETITION TIMELINE
Submission deadline (extended) – 18 August 2023
Virtual Pitch Day – August/September 2023
Grand Finale & Award Ceremony – 11 October 2023
JUDGING PANEL
Nivesh Pather – Investment Manager, Norrsken 22
Peter Clark – Founder & Managing Partner, REdimension Capital
Ibrahim Sanga – Executive Chairman, Sliverback Holdings
Zach George – Managing Partner, Launch Africa Ventures
Andre Bothma – Growth Principal, EMA, JLL Spark
Vyshakh Kodoth – Investor, Metaprop
PRIZES
The winner of the Africa Proptech Start-up Competition stands a chance to win prizes worth a total of USD 10,000+ inclusive of:
🚀 Cash prize of USD 2,500
🚀 Exposure to industry leaders, VC’s, investors, and potential new customers
🚀 Dedicated mentorship from leading venture capital and real estate figures
🚀 Company email campaign to API database of over 26,000 subscribers
🚀 Feature and mention in a dedicated global press release and social media posts
Last year’s winner received investment from one of the companies represented on the judging panel
For more information and to enter go to:
REdimension launches SA’s first dedicated proptech fund
REdimension Capital founders | Peter Clark (Managing Partner) & Matthew Marshall (Partner)
JOHANNESBURG, 1 AUGUST 2023 – REdimension Capital, a pioneering investment firm dedicated to reshaping the future of South African real estate, is pleased to announce the first close of its inaugural fund, the REdimension Real Estate Technology and Sustainability Fund I. This unique fund, which has received support from leading, forward-thinking stakeholders in the real estate sector, will focus on investing in early-stage innovative technology companies that deliver demonstrable improvements in the way property is developed, managed and engaged with. By strategically aligning with sector stakeholders, the fund has built an ecosystem of mutual value, aiming to deliver both investment and operating returns while accelerating technology adoption and driving sustainable outcomes.
Founding investors rallying behind innovation
The fund has achieved its ambitious first close target having received total commitments of over R200 million. REdimension Capital is proud to have gained the trust and support of the fund’s founding investors including Investec Property Fund, Growthpoint Properties and Rand Merchant Bank who have anchored the fund. The fund is further supported with investment from Liberty Two Degrees, Liberty Group and Sphere Holdings, amongst others. The founding investors provide a significant strategic underpin with over 650 properties across sectors directly under management. This portfolio represents over 11 million sqm of gross lettable space and is valued at over R235 billion.
Furthermore, it is anticipated that additional strategic commitments will be made to the fund before a final close on or before January 2025. The fund has also received significant interest from a range of co-investment partners, including from certain of the founding investors.
The intersection of real estate, technology and sustainability
The fund will target investment in companies developing high-impact solutions that operate at the convergence of real estate and technology. It will take a thematic approach to investment, focusing on areas which have a clear value proposition and solve for the sector’s challenges. This includes various built-world technologies that aim to improve the way assets are experienced, streamline management processes and decision-making, and which ultimately accelerate the digitalisation of the real estate industry.
Sustainability lies at the core of the fund mandate – it is committed to supporting technologies that promote energy efficiency, a reduced carbon footprint, and contribute positively to local community engagement, thus helping to enhance climate resilience for the real estate sector and promoting social inclusion.
As a fund backed by the industry’s incumbents, the intention is to support early-stage companies with inherently scalable business models and provide a platform for distribution and value creation.
Commenting on the launch
The founders of REdimension Capital, Peter Clark and Matthew Marshall, said: “We are thrilled to have achieved a first close for the REdimension Real Estate Technology and Sustainability Fund I. It marks a significant milestone in the evolution of property technology investment in South Africa. We are grateful for the support received from our founding investors and look forward to delivering for them while creating a meaningful and lasting positive impact on the markets in which we operate.”
About REdimension Capital
REdimension Capital was established in South Africa in 2021 to accelerate innovation in the built environment. Leveraging the unique blend of property-centric skills and experience of its founders, the company has created an eco-system at the intersection of real estate, technology and sustainability with the ambition of enhancing operational performance and improve sustainability in the built world. REdimension Capital has adopted an advisory-based approach to investing and works closely with strategic corporate partners to advise, invest and innovate future technology.
Contact
REdimension Capital
Peter Clark
Matthew Marshall
Webber Wentzel
Ashford Nyatsumba
Ashford.Nyatsumba@webberwentzel.com luations and publications business. Born out of the Rode & Associates acquisition by The Valuator Advisory in 2024, Rode Publications & Media was established as a new company to house the market research and insights business of the former Rode & Associates.
Currently, Rode Publications & Media produces market-respected research that is extensively used throughout the property and financial services sectors in South Africa and a variety of tangential industries. This research includes a significant range of proprietary and third-party market data and analysis garnered over almost four decades. In addition to complex statistical information, the ongoing research provides commentary on the state of the South African property market with forecasting based on market trends.
About REdimension Capital
REdimension Capital was established in South Africa in 2021 to accelerate innovation in the built environment. Leveraging the unique blend of property-centric skills and experience of its founders, the company has created an ecosystem at the intersection of real estate, technology and sustainability to enhance operational performance and improve sustainability in the built world. REdimension Capital has adopted an advisory-based approach to investing and works closely with strategic corporate partners to advise, invest and innovate future technology. REdimension Capital manages the REdimension Real Estate Technology and Sustainability Fund I, backed by Burstone Real Estate Partners, Growthpoint Properties, Rand Merchant Bank, Liberty Group, and Sphere Holdings, among others. REdimension Capital is a registered Financial Service Provider (No. 52205).
Contacts
Rode Publications
Mark Pettipher
mark@rodemedia.co.za
www.rodemedia.co.za
REdimension Capital
Peter Clark
Matthew Marshall
Aphiwe Qaba
info@redimensioncapital.com
www.redimensioncapital.com
Newsletter #4 | Looking back to move forward
We are delighted to share with you our first newsletter of 2023.
As a business focused on innovative technology to address productivity, efficiency and sustainability within the built environment, our newsletter aims to provide insights into key sector trends, new innovations and transactional activity in the South African and global markets.
Should you have any comments or feedback on any of the content of this newsletter or otherwise, please don’t hesitate to contact the REdimension team on info@REdimensionCapital.com.
Sincerely,
The REdimension Capital Partners
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Looking back to move forward
Africa on its own pathway
The era of abundance in global funding for both direct real estate and real estate technology appears to be over. Preliminary data points to a significant drop in capital allocated to both physical property and property technology in 2022 vis-a-vis 2021. A combination of multi-decade highs in global inflation, resultant monetary policy changes and recessionary fears, has left developed markets in a period of significant uncertainty, both in the investment and occupier markets.
The story was different in Africa in 2022. Investment into African start-ups grew by 35% year-on-year (the only continent to recognise start-up funding growth). While the primary beneficiaries of this capital continue to be fintech and pharma focused entities, there is broad recognition of the growth opportunities across early-stage businesses.
Proptech’s accelerated growth journey
Over the last decade, proptech funding in developed markets has seen exponential growth as the use cases have been proven to the end-users. In 2012, global proptech investment was less than $1bn but scaled significantly to a high of $32bn by 2021, growing by a compounded rate of 47% per year. According to the Center for Real Estate Technology and Innovation, $19.8bn of funding was raised globally for proptech funds in 2022, representing 4.4% of total venture capital fundraising, (still a relatively low figure considering real estate is the single largest global asset class). The African proptech opportunity, whilst nuanced by the unique underlying property market dynamics, is showing signs of significant growth ahead, and is set to follow the same trends which have been witnessed in the developed markets over the last decade.
As the only dedicated proptech investment platform in Africa, REdimension Capital has engaged extensively with property owners, managers and proptech innovators from across the continent – actively understanding and connecting problems with solutions. We are continually encouraged by the ever-growing groundswell of interest in product development, adoption, and investment. We maintain our strong conviction that the accelerated growth of this burgeoning sector is fast approaching.
Outlook for 2023 | Power production and energy efficiency
Picking up from where we left off in 2022, small scale renewable energy solutions will continue to be a major theme of investment for South Africans across sectors, as will optimising energy efficiencies, particularly in energy intense sectors such as real estate. As the scale of the energy deficiency is becoming increasingly evident, it is clear that any business operation will need to take ownership of the problem, through investment, to remain sustainable. While diesel powered generators have been the predominant solution to keep the lights on, these solutions were never expected to carry such a heavy load, and have become increasingly expensive to operate. Hand-in-hand with renewable solutions, are the technology-based tools buildings can increasingly adopt to monitor and optimise production and consumption. We anticipate these will be increasingly attractive products for numerous categories of energy consumers. Solutions range from software to support real-time load management, issue detection and preventative maintenance scheduling to AI-enabled facility automation and optimisation.
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Landmark transactional activity locally and abroad
- Flow – the South African property marketing platform raised a $4.5 million pre-Series A funding round led by Futuregrowth Asset Management
- Spleet – the Nigerian residential-focused proptech raised $2.6 million of seed capital led by MaC Venture Capital to scale its product offering
- Fifth Wall – the global proptech investor closed its maiden Climate Fund with $500 million of commitments, making it the largest investment vehicle aimed exclusively at decarbonising global real estate
- PropTech1 Ventures – the Berlin-based proptech investor has completed the first closing of its second fund with €44 million of commitments. Real estate owner-investors included amongst others, Commerz Real and Supernova Group
- Goodlord – the UK-based proptech acquired Halo, a tenant engagement and management platform. The acquisition follows previous consolidation by the company, having recently acquired referencing software vendor Vouch and bill-splitting app Acadia
- Skillit – a US-based recruitment platform for full-time construction labour raised $5.1 million of seed funding
- Landeed – raised $8.3 million to continue developing the most comprehensive property title search engine in India and simplify the process of property due diligence
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What we are reading
- Five leading trends in the proptech industry for 2023
- Net Zero, Focus on Niche Specific Sectors and Technology Innovation are the key trends affecting African Real Estate
- State of Venture 2022 – Report
- Sustainability in proptech: Building for the future
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About
Founded in 2021, REdimension Capital was established to focus on property technology and sustainability investments in South Africa and globally. Its founding partners boast a diverse but property-centric blend of skills and experience as well as deep and extensive networks within the property and technology sectors.
Since its establishment, REdimension Capital has developed the most extensive property technology and sustainability company database in South Africa. Through market research and ongoing industry screening process, REdimension Capital continues to be a leader in understanding the attractive landscape of investment opportunities in new innovations and technology relating to the built environment.
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Disclaimer
This disclaimer governs the use of this newsletter. By using this newsletter, you accept this disclaimer in full.
Newsletter #3 | Sustainability in our built world
We are delighted to share the third REdimension Capital newsletter with you.
As a business focused on innovative technology to address productivity, efficiency and sustainability within the built environment, our newsletter aims to provide insights into key sector trends, new innovations and transactional activity in the South African and global markets.
Should you have any comments or feedback on any of the content of this newsletter or otherwise, please don’t hesitate to contact the REdimension team on info@REdimensionCapital.com.
Sincerely,
The REdimension Capital Partners
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Sustainability in our built world
Real estate contributes 39% to global greenhouse gas emissions, making it the single largest emitter of any industry. This untenable status has meant that climate action is increasingly a priority for the sector, with interested stakeholders including tenants, investors, debt funders and regulators alike. An unprecedented response is required to match the scale of the crisis if the sector is to achieve the goal of a sustainable built environment. Indeed, this needs to be a transformational decade in the shift towards net zero buildings.
Global metropolitans are at the forefront of addressing this challenge through the enactment of new regulations. In South Africa, the four largest municipalities (Johannesburg, Tshwane, eThekwini and Cape Town) have signed up to the global C40 Initiative – a network of 100+ world leading cities collaborating to deliver the urgent action needed to confront the climate crisis.
C40’s mission is to halve the emissions of its member cities within a decade. The four South African cities have all pledged to enact regulations and/or planning policy to ensure new buildings operate at net zero carbon by 2030, and all buildings by 2050.
Existing technologies, including the sourcing of energy from green providers, can only reduce current real estate sector CO2 emissions by 46%, according to research led by the World Green Building Council. Clearly, significant further innovation and investment is needed to deliver on global net zero targets.
Based on the most recent public company reporting, renewable energy is the key environmental focus of the South African market, given the more demonstrable return profile and additional benefits of energy supply certainty. We see this trend continuing whilst renewable energy remains a relatively small (<10%) component of most portfolio energy consumption.
In this regard, it was interesting to see Attacq announce a Power Purchasing Agreement (PPA) for the direct acquisition of renewable power to supplement their embedded generation (effectively tripling their renewable energy capacity) as well as Fortress REIT announcing the trialling of a battery installation at Bloemfontein Value Mart. Perhaps in the future, South Africa may welcome more sustainable options for power storage such as gravity energy storage solutions like Energy Vault.
As a result of the ongoing instability of power supply, it is no surprise to see exciting new solar rental and rent-to-own businesses emerging, including GoSolr and Versofy, targeting the residential homeowner.
There are also interesting developments in sustainable technologies within the building material and construction processes, with some early-stage technology breakthroughs including:
- Neustark – a Swiss based company using recycled concrete as a carbon dioxide reservoir permanently storing the same amount of CO₂ that is generated during its production; and
- Icon – an US company specialising in 3D printing robotics, software, and advanced materials for the construction of 3D printed buildings. The company has constructed and sold the world’s first 3D printed home and is in discussions with the South African Department of Science and Innovation, in partnership with the KwaZulu-Natal Department of Human Settlements, for the piloting of 25 housing units with the aim of establishing sustainable human settlements across the country.
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SAPOA Proptech survey
SAPOA has recently launch a proptech committee with the backing of other industry associations, including SA REIT Association and Green Building Council South Africa (GBCSA). The objective of this industry leading committee is to drive a collaborative sector approach to technology and innovation initiatives for the built environment to: 1) increase industry profitability; 2) improve industry customer experiences; and 3) reduce risk.
REdimension Capital is proud to be represented on this committee which will educate, inform and support the sector as the pace of digital transformation and technological innovation accelerates.
The committee has issued a short survey – available here – and would welcome your feedback and insights. The responses will help inform a tailored approach for the committee allowing it to optimally service the industry’s needs.
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Africa Proptech Forum Start-up Competition
We are pleased to have partnered with the Africa Proptech Forum in support of their start-up competition. If you are an early-stage proptech operating in Africa, visit www.africaprotechforum.com to get more information on this exciting opportunity. In addition to the monetary awards, the competition affords a great opportunity to showcase your business to industry leaders, VCs and potential new clients.
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Landmark transactional activity locally and abroad
- DigsConnect has raised money from the Delta – Africa’s largest venture builder. DigsConnect is the largest student accommodation housing platform in Africa.
- Gmaven is looking to raise $500k to continue to build out its commercial real estate software and data services.
- Pupil has raised $45m and recently signed a strategic agreement with Cushman and Wakefield. Pupil is a spatial data company that has created an ecosystem to digitally map the built world.
- Parcl raised $4.1m to digitise real estate investments, by creating a way for everyone to invest in real estate via a digital square foot of real-live property through its price index.
- Flow carbon raised $70m to further build out its carbon credit trading platform enabled by blockchain. The platform issues tokens which are linked to offsets to help create an easier and verified process for companies to offset.
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What we are reading
Real Estate Tokenization Promises to Democratize CRE Investing | GlobeSt
SA’s proptech revolution is about to begin
Partnership: The Critical Ingredient for PropTech Adoption
Using proptech to combat climate change
The Rise of Proptech in Commercial Real Estate
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