Norwegian proptech startup, Speiz, has raised €1.3M in seed funding round led by F-LOG Ventures. The funding will enable Speiz to continue establishing their new SaaS-enabled marketplace for commercial warehouse real estate in Norway and expand its reach across Europe.
Speiz started in the Antler Accelerator Program in 2020, co-founded by CEO, Paulius Kvedaras. He joined the program to solve a key pain point his family faced on their farm in Lithuania, where warehouse facilities were often underutilised and operationally expensive due to seasonalities. Speiz was launched to be a cost-friendly, supplier-oriented solution to this common warehouse problem and to help meet the ever-growing demand for warehouse space.
German based Venture Capital fund, F-LOG Ventures, under the wider FIEGE Logistik investment wing, led the investment round. In show of support, Iron Wolf Capital and Lithuanian VC fund, Angel Fund, also invested into the seed funding of Speiz’s growth. To date, the Norwegian proptech has raised approximately €1.8M including investments from Antler, Startup Lab and TRK Group (Managed by Trond Riiber Knudson).
The start-up’s product leverages the network effect to digitally transform the outdated brokerage market. Speiz’s pricing is 3-5 times cheaper than average broker market rates and removes up to 80% of the cost & time associated with leasing activities for suppliers. The new marketplace is cheaper and faster than working with brokers because it automates manual work with machine learning and smart algorithms. Speiz also offers supplier insights on market price and tenant needs enabling them to adapt and increase yield, bringing transparency to the market.