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NEW YORK CITY – The commercial real estate property technologysector witnessed big gains in 2019, having a watershed year withthe most invested capital on record. And 2020 is expected to keepup that momentum as investors focus on valuations and revenue asoppose to scalability and growth, Ashkán Zandieh, chiefintelligence officer at CREtech, a global real estate tech-focusedmedia, event and advisory platform, tellsGlobeSt.com. "2019 was a breakthrough year for theproptech industry," he said.
Capital invested in proptech companies for the year totaled$24.9 billion, a 157% increase from 2018, according to CREtechdata. And of the venture capital investments made, an estimated 57%were made during the first half of 2019.
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