_PRODA signs up Knight Frank to road test AI

Global property advisor Knight Frank has partnered with London-based PropTech start-up PRODA, for the beta testing phase of its AI-enabled software. 

PRODA focuses on solving core data processing pain points in real estate. The software addresses the issue of unstructured data, a key barrier to digital transformation in the industry. It automatically captures property data from spreadsheets, before standardising, error-checking and securely storing it.

Josh Morris, Associate, Global Capital Markets Knight Frank, said: “We are excited to be testing PRODA at this key phase. Throughout Knight Frank we are proactively seeking ways to incorporate new technology into the way we do business and working with early stage, innovative start-ups such as PRODA is giving us unparalleled insight into new technologies available within the commercial real estate sector.

"PRODA has the potential to significantly reduce the amount of time it takes to complete deals. Speeding up manual processes frees up time, so we can focus on providing high quality consultancy services and advice, benefitting not only our team day-to-day but also our clients.” 

Peter Bredthauer, CEO and co-founder at PRODA, said: “We are thrilled to be working with Knight Frank. At PRODA our vision is to automate work for real estate professionals by enabling them to structure their data into useable formats and access its true value. This partnership moves our concept forward into a real-world setting.” 

Charles Williams, CPO and co-founder at PRODA, added: “The beta testing phase is critical in shaping our software – the more data the machine learning components are exposed to, the more comprehensive and powerful the software becomes. We hugely value working with Knight Frank as early adopters and look forward to continuing our partnership as PRODA evolves.”

Knight Frank has stepped up its investment in the PropTech sector in recent years, including partnering with Goldacre’s business accelerator RElab.