Key Takeaways
- Prosus Ventures raised $15.0M (Series A) from Prosus Ventures.
- Sector: Artificial Intelligence (AI), Technology Software & Gaming.
- Geography: Brazil.
Analysis
Brazilian proptech firm, Lastro, which specializes in artificial intelligence, has secured a Series A funding round amounting to R$ 85 million. The round was led by Prosus Ventures, a notable investor in successful companies such as iFood and OLX.
The fresh capital will be channeled towards expanding Lais, an AI agent designed by Lastro to automate various day-to-day operations of real estate agencies. By providing constant support to buyers and tenants, Lais significantly reduces the average response time from a whopping six hours to a mere 15 seconds in some instances, thereby dramatically decreasing the rate of unanswered messages.
Apart from providing real-time responses, this virtual agent customises customer service and recommends properties based on clients' specific needs. It also contributes to real estate management by issuing payment slips, registering maintenance requests, and capturing new listings. The data gathered from these interactions is then converted into dashboards which offer market intelligence insights including the most sought-after neighborhoods, popular property types, and the most effective marketing channels.
This funding round also received contributions from FJ Labs and Endeavor Scale-Up Ventures, in addition to previous investors Canary, QED, and 1Sharpe Ventures. Established in 2021, Lastro aims to revolutionize real estate transactions in Brazil through a self-sufficient AI platform that integrates with WhatsApp. This solution enhances communication between real estate agencies and clients, boosting visit-to-conversion rates by up to 60%.
Lastro's CEO and co-founder, Allan Paladino, noted that the Brazilian real estate sector is saturated with simple, repetitive, and time-consuming tasks - the perfect arena for artificial intelligence to thrive in. He added that, unlike many solutions that attempt to replace agencies, Lastro's objective is to empower them to excel at their core functions: selling and renting properties.
In 2024, Lastro was recognised by AWS as one of the top ten Brazilian startups to be included in its global generative AI acceleration program. To date, the company has managed to raise approximately US$ 20 million. With the recent investment from Prosus, Lastro aims to position itself as one of the leading AI startups in Brazil.