Coyote Software and control.IT have invested in London-based proptech firm PRODA.
The investment will see the firms integrate PRODA’s AI technology into their software, giving access to its technology to all their customers.
PRODA focuses on rent roll data and uses machine learning to automate the capture of property data from spreadsheets. The software then standardises and checks the data for errors and stores it for easy retrieval and analysis.
“By standardising unstructured data, we believe PRODA will facilitate advancement across the PropTech industry,” said PRODA’s co-founder and chief executive Peter Bredthauer. He added that it also allows “property companies to enhance their ability to analyse rent roll data”.
Coyote Software’s co-founder and chief executive Oli Farago said that “by working closely together, it has become clear that Coyote and PRODA share the belief that for the property industry to reap the benefits of digitalisation and AI collaboration and the way in which the industry records and utilises data are key.”
Read the original version of this article on Property Week.