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Cadastral, an AI agent for  the commercial real estate industry, raised $9.5 million in seed funding, CEO Abhinav Somani tells Axios exclusively.

The big picture: The rise of $2.2 billion housing and health-care automation startup EliseAI has emboldened investors to back proptech AI.

Follow the money: Navitas Capital is leading the round, with participation from JLL Spark Global Ventures, AvalonBay, Equity Residential, and 1Sharpe.

How it works: Cadastral takes the hundreds of files generated in a real estate transaction and can create investment memos in a day, says Somani.

It can also create regulatory reports, and give real estate operators a bird's eye view of their leases.

"It basically does a lot of the work that a first-year analyst would do," he says.

Users can also run scenario analysis on the properties, playing out how a negotiation process might go, for example.

What they're saying: "In moments of distress, some of these things are actually more useful," says Navitas' Jenny Song, noting commercial dealmaking has actually been slow since the pandemic. A distressed customer might use Cadastral to track loan obligations, for example.

Zoom in: NYC-based Cadastral has more than 40 customers across REITs, private equity funds, real estate operators, lenders and brokers since its beta launch last Febuary. 

Zoom out: Cadastral also has some data center customers as data centers buck the trend of reduced construction.

What they're saying: "Commercial real estate, legacy entities have hundreds of people working to manage many office buildings or retail shopping centers or industrial facilities," says Somani, who previously was COO of facial recognition company, Clearview AI. "I think there's a world in which there'a a on- man shop."

Exclusive: Startup Cadastral lands $10M for real estate AI agent

Elise AI's success has investors seeing opportunity in proptech.

lllustration of a dollar symbol made of construction material.

Cadastral, an AI agent for the commercial real estate industry, raised $9.5 million in seed funding, CEO Abhinav Somani tells Axios exclusively.The big picture: The rise of $2.2 billion housing and health-care automation startup <a class="gtmContentClick" data-vars-link-text="EliseAI" data-vars-click-url="https://www.businesswire.com/news/home/20250820023566/en/EliseAI-Secures-%24250M-Series-E-to-Automate-Healthcare-and-Housing-Hiring-Hundreds-to-Fuel-Expansion" data-vars-content-id="3e273bb8-e231-4dc1-baa4-05a2ba56eab8" data-vars-headline="Exclusive: Startup Cadastral lands $10M for real estate AI agent" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.businesswire.com/news/home/20250820023566/en/EliseAI-Secures-%24250M-Series-E-to-Automate-Healthcare-and-Housing-Hiring-Hundreds-to-Fuel-Expansion" target="_blank">EliseAI</a> has emboldened investors to back proptech AI.

Exclusive: Startup Cadastral lands $10M for real estate AI agent

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