EDF Pulse Ventures Backs Spotr’s €4.5 Million Funding for Property Data Revolution

EDF Pulse Ventures Backs Spotr’s €4.5 Million Funding for Property Data Revolution Photo credit: spotr.ai

(IN BRIEF) Spotr, a Dutch AI-powered property data platform, has secured €4.5 million in funding from EDF Pulse Ventures and existing investors to advance its mission of creating a vast image-driven property database. This funding will help Spotr address critical issues like decarbonization and underinsurance in the property sector. Spotr uses AI and satellite imagery to inspect properties worldwide and offers rapid results. They aim to inspect 15 million properties in the next two years. EDF Group is exploring collaborations with Spotr to support decarbonization efforts.

(PRESS RELEASE) PARIS, 23-Jan-2024 — /EuropaWire/ —  EDF (EPA: EDF), the world-leading nuclear operator, announces that Spotr, a leading Dutch AI-powered property data platform, has successfully secured €4.5 million in funding from EDF Pulse Ventures¹ along with continued support from existing investors Volta Ventures and InnovationQuarter. This substantial investment is a pivotal step towards fulfilling Spotr’s mission of establishing the world’s most comprehensive image-driven property database. The funds will be instrumental in addressing critical challenges such as advancing decarbonization efforts and combatting underinsurance within the property sector.

Historically, accessing property data on a large scale has proven to be a challenging endeavor, primarily due to outdated data sources that are often limited to specific regions or completely unavailable. The conventional alternative involves physical property inspections, but this approach leaves a staggering 98%² of properties uninspected. Spotr aims to change this by conducting inspections on 100% of these previously uninspected properties each year, providing invaluable insights to address issues like underinsurance and the transition to carbon neutrality.

Spotr sets itself apart with its unique ability to scan properties worldwide and deliver rapid results, offering customers a seamless implementation process.

To accomplish this, Spotr initially collects images from various sources, including satellites and street imagery, using a list of addresses provided by their clients. They then create a comprehensive digital twin of every property within the portfolio. Employing advanced Machine Learning and AI technologies, Spotr conducts large-scale image inspections to identify key property characteristics such as material, size, condition, and typology.

Notably, several entities within the EDF group, both in France and internationally, are in discussions with Spotr to facilitate the decarbonization of housing and commercial sectors across Europe.

Dirk Huibers, Co-founder and CEO of Spotr, expressed his enthusiasm for the investment by stating, “With the investment we have extended our executive team with two seasoned and successful entrepreneurs”, he said. “Bart Jan Hin, former CCO of Rodeo, has come on as CCO and Sander Mulders, former founder Geophy, as CTO. Next to these key hires, we will extend our technology, originally built for housing organisations, in the insurance industry. This allows us to service large enterprise companies like Zurich and local real-estate owners like the Alliantie. Our ambition is to inspect 15 million properties in the next two years.”

Julien Villeret, Chief Innovation Officer at EDF group, highlighted the alignment of Spotr’s technology with EDF Group’s mission, stating, “Decarbonising housing, which is responsible for 36% of greenhouse gas emissions in Europe³, is directly in line with the EDF Group’s raison d’être. The technology developed by Spotr enables us to effectively qualify customers’ needs, so that we can very quickly offer them concrete solutions in terms of energy efficiency and decentralised energy production, such as the installation of solar panels on their roofs.”

[1] EDF Pulse Ventures aims to develop EDF Pulse Holding’s Investment portfolio by Identifying new activities and Innovative solutions.
[2] Based on Spotr data base.
[3] https://www.precarite-energie.org/union-europeenne-et-climat-marche-car…

About EDF
A major player in the energy transition, the EDF group is an integrated energy company, active in all business lines: production, transport, distribution, trading, energy sales and energy services. Leader in low-carbon energies in the world, the Group has developed a diversified production mix based mainly on nuclear and renewable energy (including hydropower) and invests in new technologies to support the energy transition. EDF’s raison d’être is to build a CO2-neutral energy future that reconciles preservation of the planet, wellbeing and development, thanks to electricity and innovative solutions and services. The Group participates in the supply of energy and services to approximately 39.8 million customers (1), including 30.3 million in France (2). In 2022, it will have generated consolidated sales of 143.5 billion euros.

Within EDF’s innovation department, EDF Pulse Ventures’ mission is to identify new activities and innovative solutions outside the EDF group, to develop the investment portfolio carried by EDF Pulse Holding in start-ups and in venture capital funds. Since 2017, around 500 million euros have been invested in 30 internal or external start-ups and in 21 investment funds, mainly in France, but also in Europe and North America.
(1) Customers are counted by delivery site; a customer can have two delivery points: one for electricity and another for gas.
(2) Including ÉS (Électricité de Strasbourg) et SEI.

About Spotr
Spotr is a Dutch AI-powered property data platform, located in The Hague, The Netherlands and employs 25 fte. Founded in 2021 by Dirk Huibers (CEO), Tara Campagne (CPO) and Marieke Dijksma (Product Design), who bring a wealth of experience in building science, Spotr is redefining the way building inspections are conducted. Spotr is currently active in The Netherlands, UK, Ireland, France, and Sweden. For more information about Spotr and its AI-powered property inspection platform, please visit www.spotr.ai or watch a demo here.

Media contacts:

Tel.: +33 (0)1 40 42 46 37
service-de-presse@edf.fr

SOURCE: EDF