This Research Note highlights our analysis of investment levels raised by smart buildings startups and established players in 2023 from venture capital firms, private equity and strategic investors. We review investment in the smart buildings space in the context of the broader proptech sector, assess funding for startup companies, the role of corporate investors and provide our 2024 outlook. Smart Buildings VC and PE Funding The smart buildings space witnessed significant growth in funding over the past 7 years, but 2023 marked a turning point with 37% less investment than a year earlier. While investment continued at a relatively high level in 2022, a considerable decline in funding was evident in 2023, back to 2019 pre-pandemic levels in the context of a tightening investment landscape and a continuing economic slowdown. Memoori recorded a 26% decrease in investment volumes, amounting to 275 funding rounds in 2023 compared to 372 in 2022 while investment values in the […]