Norwegian proptech startup, Speiz, has raised €1.3 million in seed funding round led by F-LOG Ventures. The funding will enable Speiz to continue establishing its new SaaS-enabled marketplace for commercial warehouse real estate in Norway and expand its reach across Europe.
This investment comes at a time when the commercial proptech industry will be facing significant challenges and changing demand. Despite the recession increasing interest rates, causing property yields to shrink and property prices to collapse, Speiz sees these difficult times as an opportunity to support businesses. With reports of a warehouse vacancy rate of just 3% in the UK, a strain on supply chains will be felt as SMEs across Europe scramble to find warehouse space in competition with larger retailers storing excess inventory leftover from the pandemic.
There has never been a better time for startup innovation in this industry. Speiz started in the Antler Accelerator Programme in 2020, co-founded by CEO, Paulius Kvedaras.