Gridics closes $1.6M seed round
Developer BH3 led the funding round
Gridics just raised a $1.6 million round of seed funding, led by South Florida developer BH3.
The Miami-based real estate tech startup will use the investment for development and sales of its Zonar.City platform, according to a news release. Dune Road Capital is also an investor.
Since it was founded in 2015, Gridics has raised $3.735 million, according to co-founder and director of business development Felipe Azenha. Gridics, which stands for Grid Analytics, said its applications allow users to visualize real estate data and streamline the development plan approval process.
Gridics inked a deal with the city of Miami in April to use the platform to streamline the development plan review analysis and processing.
Gridics CEO Jason Doyle said in the release that the software company plans to open New York City’s five boroughs on Zonar.City over the next few months and sign contracts with new municipalities.
The Zonar.City app automates development feasibility analysis for investors and aims to simplify the planning and zoning process by digitizing and automating zoning codes. Cities and developers can check development plans against site-specific zoning requirements, making the approval process more efficient, Gridics said. Zonar allows users to view a 3D, by-right development potential of a specific parcel or parcels.
Dune Road Capital led a $1.1 million round of seed funding that Gridics closed in April. The capital raise also included developer Avra Jain, John Dyett, managing director of Salem Partners, and Robert Kall, CEO and co-founder of Cien.ai.