The tech-focused Fifth Wall’s $500 million climate fund remains hot

RoadRunner offers a technology-driven approach to sustainable waste management and recycling for large retail companies, such as: B. commercial real estate developments and rental communities.

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Venture activity around proptech is slowing down. But it hasn’t stopped.

This is particularly true of real estate tech-focused Fifth Wall and its $500 million climate fund.

The fund’s most recent focus is RoadRunner Recycling, for which it funded $20 million in a Series D round, according to a Nov. 15 news release sent to Inman.

RoadRunner offers a technology-driven approach to sustainable waste management and recycling for large retail companies, such as: B. commercial real estate developments and rental communities.

“RoadRunner’s digitally enabled platform is a one-stop shop for its customers to recycle more while spending less,” said Jennifer Place, director of the climate technology investment team at Fifth Wall, in the press release. “Our robust network of limited partners represents some of the world’s most notable global real estate owners and operators who will undoubtedly benefit from their pioneering approach to promoting major landfill diversion.”

RoadRunner uses real-time data feeds to optimize when, how and where waste and recycling containers are collected and delivered. Its technology extends to automatically recognizing when line-of-business customers need collections most urgently based on business activity. It also handles item segregation and eliminates material contamination.

The company’s support follows the completion of Fifth Wall in July 2022 for the Climate Fund, a rich trove of funds targeting technologies to improve how real estate interacts with the environment.

“The fund is the largest private fund established to decarbonize the real estate industry,” the company said in the announcement.

As one of the industry’s most prolific financiers of technology developed to power the way real estate works, Fifth Wall has had far-reaching implications both domestically and internationally.

The fund continues to focus on companies that offer opportunities to make everything related to housing better, typically by consolidating the processes that drive it. It has supported innovative builders motivated by wildfire, title and escrow technologies, digital notaries, iBuyers and partial second home solutions.

The Climate Fund directly reflects Fifth Wall’s dominant brand message, which is strongly supported by its certification as a B Corporation, a business entity that B Lab says “meets high standards of social and environmental performance, accountability and transparency.”

According to Architecture2030, an organization dedicated to rethinking construction and its impact on the planet, real estate or the “built environment” is responsible for nearly 50 percent of annual global carbon emissions.

A number of companies have sprung up to help homeowners and real estate agents better understand the impact of today’s homes on climate change. ClimateCheck helps home buyers and sellers assess the environmental risks associated with a home to use prior to purchase or as a sales aid. AreaHub works similarly, providing illustrated reports and in-depth research on all the ways the outside world can influence a relocation decision.

Real estate data provider ATTOM has launched a risk assessment program for every property in America, supported in part by ClimateCheck.

Fifth Wall has also backed proptechs Lessen, Veev, Flyhomes, Sundae, and Hippo.

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