PropTech startup Algoma has secured $2.3 million in seed funding to further develop its AI-powered platform designed to simplify early-stage decision-making in real estate development. The round was led by Zacua Ventures, with participation from SOSV, Iron Prairie Ventures, DOMiNO Ventures, Compose VC, and several angel investors from AI, construction, and real estate sectors.
Founded by three Harvard alumni, Algoma offers a web-based platform that enables small and mid-sized developers to quickly evaluate site feasibility. The tool integrates zoning regulations, construction costs, market trends, and financial models, aiming to reduce feasibility analysis from weeks to minutes.
With the recent investment, Algoma plans to expand its engineering team, enhance its software capabilities, and streamline the platform for a broader user base.
“Algoma addresses one of real estate’s most time-intensive tasks — site selection and feasibility,” said Vivin Hegde, General Partner at Zacua Ventures. “The speed and confidence their platform enables is valuable for a sector that still depends on fragmented workflows.”
The startup is targeting urban infill, affordable housing, and mixed-use projects, particularly in New York City and Georgia. These types of developments are often driven by smaller firms that typically lack access to data-driven tools. Algoma’s platform allows these teams to generate investor-ready reports, test layouts, and model financial outcomes with limited resources.
“Our goal is to support developers with the tools needed to move from analysis to action,” said Seyfihan Usarer, Co-Founder and COO.
The product includes features such as:
Kyle Mertens Meyer, Co-Founder and CPO, highlighted the importance of user input in building the tool. “We worked closely with developers to understand their needs. That feedback shaped the design and functionality of the platform.”
The company has also received two competitive grants: one from the NYC Mass Timber Studio, supported by NYCEDC, and another from the Georgia Mass Timber Accelerator, run by the Georgia Forestry Foundation.
As Algoma prepares for the next phase of growth, the startup is positioning its solution as a practical tool for improving efficiency and clarity in early-stage development planning. More developments are expected in the coming year as the platform expands its capabilities and user base.
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By Proptechbuzz
By Ravi Kumar
