With the help of digital twins, the Swiss-based, Luxembourg-founded PropTech Nomoko wants to help create the digital economy of tomorrow. Co-founder and CFO Vincent Pedrini shares his vision of an integrated ecosystem and their latest developments.
Founded in 2015 as a research-oriented startup, Nomoko has recently shifted gears and transformed itself into a “Digital Twin Company”. This shift took place when co-founders Nilson Kufus and Vincent Pedrini saw that the real estate industry was lagging behind in terms of digitalisation and realised that their expertise in spatial modelling could help push the sector forward.
As a “Digital Twin Company” their aim is ambitious yet straightforward: “We want to represent the physical world in the digital world because if you succeed in doing that you can enable a more developed digital economy,” says co-founder and CFO Vincent Pedrini.
With the help of advanced image capture and modelling technology, as well as ridiculous amounts of data, Nomoko has succeeded in digitalising the built-world of Switzerland. Over the course of the next years, they plan to repeat this process in the rest of Europe and the world. However, since it is time and resource-consuming process, they also provide other services.
Currently, these include the creation of custom-made 3D models, video renders and orthophoto renders of the built-world. These are used by real estate players, the government, landscape designers and architects, among others.
However, these spatial services are only the foundation of their work and barely scratch the surface of what Nomoko wants to achieve in the future. Indeed, their ultimate objective “is to create an entire ecosystem around the built-world”.
“Fragmented Digital Solutions”
Building an entire ecosystem around the built-world is no easy task but Nomoko’s platform Praedia and its associated Praedia Marketplace point in the right direction.
Currently still in beta, Praedia is the “Digtial Twin platform for real estate”. By integrating spatial data, legal data and market intelligence into searchable property maps, Praedia makes it easier for real estate players and businesses to get up-to-date information on the property market.
Whereas Praedia and its search engine will be free-to-use for everyone, Praedia’s Marketplace will form the cornerstone of Nomoko’s business model. Directly connected to Praedia, the Marketplace will act as a sort of app store where users can buy a whole range of added-value services.
The list of possible services and specialised applications appears endless. However, of the 30 partners already working with Nomoko, many appear to be focused on measuring ESG relevant data. These include services such as measuring the CO2 emissions of buildings, their solar panel capabilities and many more.
While PropTech solutions have seen a large increase in recent years, many real estate experts complain about the fact that the solutions are extremely fragmented. By developing Praedia Marketplace and a public developer portal, Nomoko want to bring these fragmented solutions together so that the digital transformation of the real estate sector can really take off.
