Orbital Witness secures £3.3m seed funding from LocalGlobe and Outward VC to develop real estate risk rating software
The seed round was led by LocalGlobe and Outward VC to fund product development and team expansion.
Orbital Witness provides an artificial intelligence platform that streamlines property due diligence for legal and real estate professionals. The company aims to automate document review and accelerate real estate transactions.
London-based legal tech startup Orbital Witness has secured £3.3m in a seed funding round led by LocalGlobe and Outward VC. The raise also saw participation from previous backers Seedcamp and JLL Spark, bringing the company's total funding to £4.5m.
The capital will be directed towards building AI-powered software designed to streamline property due diligence in the UK. The company intends to use the proceeds to double its workforce, expanding its team across product development, data science, engineering, marketing, and customer service.
Founded in 2017, Orbital Witness is working to establish a universal risk rating process for real estate akin to a credit check. The firm plans to apply its technology to commercial property markets following initial adoption by major law firms.
From the founder
"Our goal is to simplify the complexities of the current process and bring greater transparency to the world’s largest asset class"
Edmond Boulle
CEO at Orbital Witness
Use of funds
- 01Grow the team
- 02Continue product development
Investors
Categories
About the company
Orbital Witness
Orbital Witness uses artificial intelligence to automate property due diligence for legal professionals.