Ownly, a Calgary start-up, is hoping to change the way Canadians purchase new homes. Traditionally, buyers hoping to purchase a new home visit burgeoning subdivisions, sauntering between model homes in the hopes of finding their ideal residence. This method turned what was already a stressful process, into a costly and time-consuming one.
Ownly hopes to simplify the entire industry by allowing developers to list and sell their inventory of new homes on its platform. This process benefits both consumers and developers. Consumers can view more options, become better informed about market conditions, and cut down on the search costs of finding a new home. Developers benefit by reaching more customers and cutting down on marketing costs. The company gets its revenue from charging builders a fee for listing their products on the site.
In October of 2022, the company raised $2.55 million CAD in seed funding from Calgary Bluesky Equities, the National Bank of Canada NAventures, and Garage Capital. Ownly is hoping to use the funds to expand its market from its current hub in Alberta to Ontario and several U.S. locations, including Florida, Texas, and Georgia.
The recent downturn in the Canadian housing market could be a double-edged sword for the company. On the one hand, a slowing housing market could mean fewer customers. On the other hand, a slumping market could be ripe for a disruptor looking to shake things up. Either way, 2023 should be an interesting year for Ownly, as the company tries to navigate multiple hurdles in its quest to revolutionize the way Canadians buy homes.
The Government of Canada (the “Government”) has concluded its most recent national security review of TikTok, the popular short-form video platform owned by Chinese technology company ByteDance Ltd…
Confined Space Robotics (“CSR”) has been awarded a $1.5 million contract by Seaspan Shipyards to develop and integrate abrasive blast and paint robotic systems at Seaspan’s Vancouver shipyard. Seaspan…
OpenAI has announced a deal with the United States Department of Defense (the “DoD”) that will allow the United States military to deploy advanced artificial intelligence systems within classified…
Global average atmospheric carbon dioxide (“CO₂”) concentrations have climbed roughly 25 percent since 1980. This is largely driven by fossil fuel combustion and intensifying wildfires, as the…
Carbon Robotics, the Seattle startup behind the LaserWeeder – a robot fleet that uses lasers to eliminate weeds – has introduced a new AI system called the Large Plant Model (“LPM”). The company says…
According to a recent article from TechCrunch, virtual retailer Etsy is selling Depop, Gen Z’s preferred online platform for buying and selling vintage clothing, to eBay for US$1.2 billion in…
