Innovative machine learning platform revolutionizes asset management and attracts substantial funding from tech investor Tidal Ventures
Sydney-based proptech company Asseti, already trusted by major commercial players like Mirvac, Colliers, CBH, Holcim, and Ventia, announces its successful completion of a $2.5 million seed funding round led by tech investor Tidal Ventures. The investment marks a pivotal moment for Asseti as it plans to expand its footprint in the commercial property management sector.
At the core of Asseti’s platform is a sophisticated integration of high-quality imagery and advanced machine learning algorithms. By leveraging these technologies, Asseti predicts and prioritizes asset needs, proactively monitoring factors such as wear and tear, leaks, and potential hazards. This proactive approach minimizes downtime and maximizes the lifespan of assets, a significant departure from the traditional reactive strategies prevalent in the industry.
Founder Aonghus Stevens recognized the inefficiencies inherent in reactive property management strategies and envisioned leveraging technology to shift towards a more proactive approach. Asseti’s platform not only addresses clients’ immediate needs but also exceeds expectations by reducing manual assessment time, enhancing safety through virtual inspections, and providing comprehensive data insights surpassing traditional reporting methods.
Scott Robinson, senior technical operations manager at Mirvac, lauds Asseti’s transformative impact on industrial asset management, stating that Mirvac is now heavily reliant on the platform for day-to-day operations. Beyond site maintenance, Mirvac utilizes Asseti for contractor onboarding, regulatory inspections, and more, underscoring the platform’s versatility and utility.
With the infusion of additional funding, Asseti is poised to further enhance its AI capabilities for real-time asset assessment and expand its market reach, with a keen focus on the vast and aging infrastructure landscape of the United States. Kieran O’Neill, principal investor at Tidal Ventures and Asseti board member, expresses unwavering confidence in the investment, citing Asseti’s ability to monitor a wide array of real-world assets in an increasingly digitized market landscape.
