Planet Smart City, the UK headquartered global leader in smart affordable housing, today announces that it has completed its latest round of capital fundraising. The company secured €24m from existing and new investors, taking the total amount raised since the company’s inception to €100m.
An innovative proptech company, Planet Smart City is disrupting the global affordable housing market through its unique proposition. The business improves quality of life for residents and fosters communities by providing superior infrastructure, urban planning, sustainability and technological solutions, all supported by its Planet App. Available to all residents, the App allows those who live within its communities to manage the smart solutions available in their area and facilitates social innovation programmes, which take place in shared spaces and are deployed by experienced professionals, such as community managers.
The funds will be used to finance the company’s ambitious growth plans, which includes the launch of 30 large-scale residential projects by the end of 2023, with a milestone of eight projects launched by the end of 2020. In addition to supporting growth, the funds will be also used to further develop Planet Smart City’s digital platform through the creation of new services and experiences for its communities