On Wednesday, UAE-based PropTech startup Coraly.ai launched a USD 2 million pre-seed investment round.
The company invested in improving AI and expanding its property technology platform beyond the UAE. Salica Oryx Fund, EQ2 Ventures, and strategic angel investors led the round.
Driving growth with AI Innovation
Coraly.ai, originally Coralytics, was founded in 2022 to help real estate agents save time and expand faster with AI.
Lead enrichment, automated marketing campaigns, and analytical performance data simplify customer acquisition and conversion.
Fouad Bekkar, Founder and CEO of Coraly.ai, stated, “Real estate agents globally are underserved by fragmented, outdated sales tools. Through Coraly.ai, our objective is to streamline growth by employing seamless AI. This expanded funding will expedite the development of new products, enhance the engineering team’s capabilities, and enhance the depth of AI capabilities.
Coraly.ai plans market expansion
With the $2 million investment, Coraly.ai hopes to lead the UAE and enter Saudi Arabia later this year. The company will also conduct French and American pilot projects to explore new business potential. After joining SNPI, France’s largest professional real estate union covering 14,800 agents, Coraly.ai entered the European market smartly. With its first US MLS partner, the company prepared for test initiatives.
Ivo Detelinov, General Partner of Salica Oryx Fund, praised the company, saying, “It represents a noteworthy advancement in real estate marketing technology, offering an AI-powered platform that fundamentally transforms how properties are marketed online.”
Patrick Thiriet, CEO of EQ2 Ventures, added, “AI is about to leapfrog productivity across industries where legacy software still dominates. The property market is one of them, with agents spending too much time on non-productive tasks. Fouad and his team combine their deep knowledge of AI to crack what a global opportunity is.”
Coraly.ai aims to provide real estate agents with high-impact, accessible AI technology that could revolutionise the global real estate industry, beginning in the GCC region.
The company’s international ambition and concentration on AI-first growth strategies are reflected in its rebrand from Coralytics to Coraly.ai.
The announcement underscores Coraly.ai’s dedication to expanding AI solutions and improving the productivity of real estate professionals in numerous critical markets.