The word “efficient” isn’t normally used to describe the planning and zoning processes in most cities, but a startup called Gridics is hoping to change that.
Miami-based Gridics, which calls itself a real estate data and software development firm, said on Tuesday its closed on a $1.1 million seed funding round led by Dune Road Capital. Other investors including John Dyett, managing director of Salem Partners, Robert Kall, CEO and co-founder of Cien.ai, and Miami real estate developer Avra Jain also participated in the round.
The name “Gridics” is a contraction of Grid Analytics. The company was founded recently, in 2015, and builds real estate software applications that allow users to visualize data and make smarter development and investment decisions. The platform also allows users to streamline inefficient process in real estate zoning and planning, Gridics said. For example, its Zonar.City app bridges the gap between private sector architects, developers and lawyers through the automation of feasibility analysis. It also helps to streamline development plan approval processes.
“By creating a solution that can digitize and automate any zoning code, the Gridics team has created a way to streamline an antiqued process," said Peter Richards, managing partner of Dune Road Capital.
The seed funding round brings Gridics’ total funding to $2 million. The new cash will be used to enhance its products and boost adoption of the Zonar.City app.
“Our new automated compliance module allows cities and developers to quickly check development plans against site-specific zoning requirements. Cities that integrate their code with Zonar.city will streamline their zoning approval processes resulting in faster approvals, improved transparency and significant reductions to backlogs,” said Gridics CEO Jason Doyle, in announcing the funding.
Gridics will also use the funding to bring its Market Intelligence application to market. That app is currently in development, and is designed for real estate professionals to conduct hyper-local market analysis. The company says more than 1,000 members of the Miami Association of Realtors are already using its services, and hopes to expand nationwide, it said.