Syte is a property technology startup that uses AI to provide comprehensive real estate data, streamline renovation planning, and enhance energy efficiency in the property sector.
Syte, founded in 2021 and based in Münster, Germany, is a property technology startup that leverages artificial intelligence to revolutionize the real estate industry. The company's AI-powered platform provides comprehensive property data to banks, estate agents, developers, and planners, offering insights into property searches, construction potential, and energy efficiency. In September 2024, Syte secured approximately €5 million in seed funding, led by companies from the Schwarz Group. This investment aims to enhance their data platform and expand their innovative AI capabilities. The company has also received €800,000 in public funding for its "ENERsyte" project, which focuses on streamlining municipal heating planning. One of Syte's notable innovations is "syte Renovate," a tool that simplifies renovation planning by calculating optimal scenarios without extensive data input. The company's AI search engine allows users to search within a database of 25 million properties, using dozens of filter parameters. Syte's technology analyzes satellite data to determine the energy requirements of buildings and assess the condition of building fabrics. The company utilizes Google Cloud tools, particularly BigQuery, to power its data pipelines and search engine, significantly improving response times for spatial queries. With its focus on digitalization and decarbonization in the property sector, Syte is positioning itself as a key player in the evolving landscape of real estate technology.