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The Czech startup Spaceflow, which connects the world of office and residential buildings and state-of-the-art technologies, has received a significant capital injection. A total of eight million euros, ie about 200 million crowns, was poured into the company by the Swedish group Hydda.
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“For us, the strategic partnership with Hydda means a unique opportunity to realize our vision in key European markets and move forward in global expansion,” said Lukáš Balík, co-founder and CEO of Spaceflow. According to Balík, the transaction valued the company at tens of millions of euros. “We do not want to mention a specific number. The key moment for the valuation will be the very entry into the stock exchange planned in about two years, “added the head of Spaceflow.
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Spaceflow operates in an area called “proptech” due to the interconnection of real estate and technology. The software developed by the Spaceflow startup can connect tenants and visitors, owners, building managers and service operators.
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Among other things, the investment will enable the company to expand the company’s team from the current 45 to 70 people by the end of the year. Czech Spaceflow already operates in 18 countries around the world. Among the startup customers is, for example, the real estate branch of the Allianz insurance group. The Czechs have developed a digital platform for the The Complex office complex, which Allianz owns in Vienna.
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“Spaceflow is our first investment outside Scandinavia and fits perfectly into the ecosystem of the leading props of the companies we associate and have in our portfolio,” said Philip Göransson, Hydda Group’s Chief Commercial Officer.
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The Swedish company is backed by the investment company BLQ Invest and the largest Swedish property owner, the Vasakronan group. For Hydda Group, Spaceflow is already the fourth addition to the technology chain.
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The investment from the Swedish group is the largest capital injection for Spaceflow so far. In addition to its founders, other Czech investors were also present at the start-up of the company, namely real estate entrepreneurs Daniel Matula and Karel Konečný, the UP21 investment group and Credo Ventures. Spaceflow was also supported by the Hungarian fund Day One Capital.
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Proptech in bloom
The technology and real estate industry has been booming in recent years. Startup solutions in this area are already an integral part of, for example, new office centers. Proptech technologies allow users, for example, to enter the building without contact and open doors, monitor capacity or reserve meeting rooms.
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For example, in the aforementioned Vienna’s The Icon administrative center, which technologically operates Spaceflow, employees can check the occupancy of the canteen via the application and arrive when it is empty.
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Among Spaceflow’s competitors, Sharry Europe, for example, is active in the market. In recent years, it has received investments, for example, from the Bohemia Venture Capital fund. Billionaire Tomáš Krsek invests through it.
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Another significant player in the field is the startup Spaceti. Its launch was facilitated by capital, among others, from businessman Ondřej Fryc, the founder of the Mall.cz e-shop.
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