Polish property start-up SonarHome has raised 25 million Polish zlotys ($6.6 million U.S.) in an investment round lead by venture capital fund Market One Capital. Kogito Ventures and several private investors, including Michał Borkowski (LinkedIn profile), Tomasz Kraus (LinkedIn profile) and Maciej Noga (LinkedIn profile), also participated in the round.

SonarHome buys real estates based on their market valuation directly from property owners and then sell them either on the open market or to institutional investors. Apartments are valued by SonarHome’s machine learning algorithms that use data from thousands of transactions from the last two years.

The company also offers a free online tool for property valuation. It estimates real estate prices based on sales offers and transaction prices for Warsaw, and based on sales offers for Kraków, Łódź, Poznań, Szczecin, Trójmiasto and Wrocław.

The funds obtained will be used to further develop automatic pricing technologies based on AI and machine learning, as well as for gradual expansion in other Polish cities and the CEE region, including in Prague, Budapest, Bratislava and Bucharest. SonarHome also plans to hire more BI analysts, programmers, as well as real estate acquisition and sales specialists.

SonarHome was founded in 2017 by Mateusz Romanowski (LinkedIn profile), formerly CEO of Allani, an aggregator of offers from online stores with fashion, sold in 2015 to Wirtualna Polska Group. Romanowski also served as VP of Growth in Brainly, an educational technology company. The company has participated in 166 transactions worth 64 million Polish zlotys ($17 million U.S.) since its inception.

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