Real Estate
Home›Real Estate›PropTech›Antares Labs launches with $7.25 million seed to apply…
Antares Labs launches with $7.25 million seed to apply AI in real estate
Chicago-based Antares Labs says its AI systems are model-agnostic, letting clients choose providers such as OpenAI or Gemini, and cites Quarterra as a current client using it for submarket and land-parcel targeting.
Chicago-based Antares Labs, which builds custom AI solutions for real estate operations, has launched with a $7.25 million seed round, according to Commercial Observer. Proptech venture firm Fifth Wall led the funding, joined by Base10 Partners, Bloomberg Beta, and Sandwith Ventures.
Antares Labs co-founder and CEO Noaman Ahmad said he saw a gap between the real estate industry’s large data resources and how widely companies have been turning that data into value with AI. He added that firms increasingly see AI as necessary to maintain a competitive edge over the next one to two years.
The company offers tailor-made AI systems that digest and build on client institutional knowledge, proprietary data, and workflows. Ahmad said its current client, real estate developer and investment manager Quarterra, is using the service to identify and target new submarkets and land parcels.
Commercial Observer reports that other use cases include helping a shopping center-focused real estate investment trust shrink the time between tenant departures and arrivals, and supporting an industrial landlord with current and future inventory insights. The platforms are designed to be model-agnostic, so clients can select providers like OpenAI or Gemini and adjust based on needs or cost pressures.