Back in August, Skyline AI, a real estate investment technology company that uses artificial intelligence for real estate investing, raised $18 million from various venture capital sources, including JLL’s tech startup investment fund, JLL Spark.
And now, Skyline is making another move to continue its push to use AI to source, analyze, acquire, manage and sell institutional-grade real estate investments.
Skyline announced this week that it is partnering with DWS Group, a German asset manager, to boost its technological capabilities.
Through the “strategic partnership,” DWS will add its 45 years of experience in the real estate investment management space to the machine learning capabilities of Skyline’s AI systems.
Additionally, DWS’s real estate research team and Skyline’s data scientists will work together to continue the development of Skyline’s proprietary technology.
As part of the deal, DWS has also become a minority shareholder in Skyline.
“This is another step in our strategy to leverage DWS product capabilities to support our clients and make investments where we see opportunities to create value,” Pierre Cherki, DWS board member and co-head of the investment group at DWS, said.
“Collaborating with an early stage company that uses AI to bolster efficiency and enhance the real estate investment process supports our overall aim of pursuing value for our clients through comprehensive and innovative investment strategies,” Cherki added.
Guy Zipori, co-founder and CEO of Skyline, said the company is “thrilled” be working with DWS.
“Their expertise and long-standing real estate investment operations create a good climate for our technology to thrive,” Zipori said.
“The commercial real estate market is on the cusp of a seismic change, and those who are agile enough to adopt new strategies and technologies are going to shape the new economic reality,” Zipori continued. “As one of the largest players in the industry, DWS has the innovative spirit to lead the market in the adoption of advanced technology.”