We're pleased to announce that the LAB Ventures PropTech Fund has invested in Arx City, a platform built to source and evaluate potential real estate investment and development projects. The platform allows users to search for opportunities that fit their unique strategy, schedule, and capital requirements. They can quickly obtain actionable data about a property, including potential projects, existing lot and building characteristics, ownership information, sales history, debt and tax records, and more. Users can also adjust any assumption, from schedule to construction cost, and instantly see how it impacts the project’s profitability.
Brothers Tomas and Hernan Garcia are the co-founders of Arx. Tomas and Hernan began working together in single-family residential development, where they built the first prototype of Arx for their own use. Together, the brothers they bring a diverse set of skills and professional experiences to the Arx team; with Tomas previously working in the Investment Banking Division at Goldman Sachs on a variety of M&A and capital-raise transactions while Hernan has worked at numerous architecture firms, including SHoP Architects and SOM, on projects that run the gamut of scale and property types.
"Arx has developed an impressive platform connecting several data sources to help developers to find the best projects available in a specific area. Arx suggests several fully automated and customizable forecast models for all properties in the area considered, cutting the analysis time by orders of magnitude. It's a really cool system." said Managing Partner of LAB Ventures, Rafael Valdivia.
The round was led by Hometeam Ventures with support of LAB Ventures. Arx is in the current cohort of NAR REACH and Second Century Ventures is also investing in this round.
LAB Ventures works strategically with early stage PropTech startups and investors from the Real Estate and Construction industries providing them access to capital, corporate development, customers, innovation, and outsized returns through venture capital investments.
