Ada Ventures invested in Tract, a prop-tech startup leveraging AI to streamline land site sourcing and planning permission acquisition, addressing the UK housing crisis.

Target Information

In May 2024, Ada Ventures made a strategic investment in Tract, an innovative prop-tech startup dedicated to leveraging artificial intelligence for the identification of potential building sites and the acquisition of planning permissions. This investment marks an exciting collaboration with Concept Ventures, as we co-led Tract's pre-seed funding round.

Tract positions itself as a pioneering "Yes In My Backyard" (YIMBY) prop-tech firm, advocating for real estate and economic growth by simplifying and reducing the costs associated with locating land suitable for development. By facilitating the housing search, Tract aims to alleviate the housing crisis, making the dream of homeownership attainable for many.

Industry Overview

The UK housing landscape is currently facing significant challenges, with increasing rent and mortgage costs consuming a larger share of household budgets. Housing ownership has become a distant aspiration for numerous individuals amid escalating property