AI rollup startup Dwelly raises $170m backed by EQT and General Catalyst
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Proptech startup Dwelly raised $170 million in funding led by EQT Growth and General Catalyst to expand its AI rollup strategy of acquiring UK letting agencies and embedding AI software into their operations. The company has acquired 17 letting agencies managing around 15,000 properties and collecting roughly £350 million in rent annually, with the new capital directed toward financing further acquisitions. Dwelly exemplifies an emerging trend of AI rollup startups that acquire traditional businesses and layer proprietary AI technology to automate labor-intensive tasks and modernize fragmented industries.
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