What does Algoma do?
Algoma provides an AI-native real estate development platform that transforms an address into a deal by delivering rapid site feasibility assessments. Their software combines market intelligence, zoning analysis, capacity calculations, construction cost data, and pro forma modeling, enabling developers to make faster go/no-go decisions.
How much did they raise?
The company raised $2.3M in a Seed funding round, led by Zacua Ventures, with participation from SOSV, Iron Prairie Ventures, DOMiNO Ventures, Compose VC, and angel investors.
What are their plans for the money?
Algoma intends to use the funds to expand operations and further develop its platform, which could streamline real estate project decision-making and accelerate development processes.
What have they achieved so far?
Algoma has already secured two competitive grants from NYC Mass Timber Studio and the Georgia Mass Timber Accelerator, highlighting its innovative approach and industry recognition.
