Whilst real estate is still considered a traditional industry, there has been a surge of innovation in recent years, particularly when it comes to digital tools. Switzerland-based Digital Twin company, Nomoko, plans to capitalise on this by building a platform for PropTech players to come together, providing a one-stop-shop for Real Estate’s digital needs.
Bridging physical and digital worlds
Nomoko is focused on bridging the gap between the physical and digital worlds through the use of 3D modelling and creation of Digital Twins. The challenge they look to solve is digitising the world in a way that makes it more accessible to humans and, in future, machines.
They found their initial target markets – autonomous driving, smart cities and gaming – weren’t ready for so much data. But, they quickly saw potential within real estate. Not only is it largely undigitised, presenting both a challenge and opportunity, but the sector also requires the company’s expertise of creating large scale Digital Twins. The 3D models that Nomoko create can be enriched with other spatial data, such as noise, traffic volumes etc, which can be used by real estate developers to plan projects more strategically.
A one-stop-shop for Real Estate’s digital needs
Now, Nomoko is looking to make this type of technology, and others, more accessible with the launch of Praedia: a platform for real estate professionals to find all the digital tools and data sources they need. For this to work, Nomoko will collaborate with other PropTech companies, to offer a variety of tools. “With Praedia, we’re all about community and all about the network”, Caldova explained. “There are a lot of great technology companies and data providers, and our goal is to be an integrator.” They will be announcing their first partners soon.
“There is a need to understand the physical world to make digital products.”
For now the tool is only available for Switzerland, and is initially focused on helping real estate professionals find investment opportunities – both residential and commercial. Over time, they plan to cover the entire real estate workflow, including planning, building and managing, which will broaden their audience to urban planners and governments. They also plan to roll it (and their 3D and spatial services) out in other countries, with Luxembourg next on the list.
Building a Digital Twin of Luxembourg
With this expansion into the EU, Nomoko recently applied, and were approved, for the European Specific Operations Risk Assessment (SORA) – a new requirement for operating drones over urban areas. This positions them well against competitors, enabling them to extend their spatial services to other countries across Europe.
In future the company aims to provide a marketplace where people can not only find information from other PropTech providers, but can also purchase apps from them too. According to Caldova, “We really believe that simplifying the process and making it easy to use for real estate professionals is the way to go.”
This article was first published in Silicon Luxembourg magazine. Get your copy.