Czech PropTech in 2020: acquisitions, investments and skyscrapers in NYC

Despite the difficulties caused by COVID-19, 2020 was a turning point, in a positive sense, for most Czech PropTech companies.

Thus, many companies have expanded to foreign markets, where Czech solutions for residential and commercial development are receiving positive responses.

It was the epidemiological situation that created strong pressure to automate and digitize processes using modern technologies.

These technologies include machine reading, artificial intelligence, or the Internet of Things.

The Czech-Slovak Association of PropTech Companies made a top of the most 5 progressive companies in this field.


The company has more than doubled its turnover in 2020, even though many of its projects have slowed down due to the pandemic.

Sharry also won a contract to implement software and mobile applications in 23 skyscrapers in New York (including the iconic One Vanderbilt).

“We are registering an enormous demand from our customers for contactless solutions, such as mobile access or our product innovation – the ability to call an elevator directly from a smartphone avoiding the need to touch shared surfaces. More and more clients are also in demand for our data analysis tools to help them strengthen the tenant’s confidence in office comeback,” says Vlad Mašinský, Strategic Partnership & Business Development Lead.

Also, last year, Sharry became the global technology partner of HID Origo.


The software provider for residential developers operating in 12 European markets after it entered Romania, Lithuania, and Estonia in 2020.

Despite the covid-19 pandemic, Realpad expects year-on-year sales growth of 80%.

They are working on the first coliving project and have information on the development of real estate prices.

According to Realpad, the share of buyers increased to 40% for investment reasons.

”During this year, in cooperation with the development company Corwin, we managed to implement a pilot project to digitize the handover of apartments. It was the onset of the digitization of the covid-19 pandemic that accelerated significantly, and we are registering increased demand for the product from foreign and local developers,” says Marián Škvarek on behalf of Realpad.


Integrating data, technology, and people, Spaceflow helps landlords to go through digital transformation to finally connect buildings with their occupiers.

Spaceflow delivers an operating system that integrates both physical and digital aspects, and community engagement to create an elevated experience for occupants in residential and commercial buildings in 17 markets.

”We are monitoring the increased interest in technologies enabling contactless access, whether it is building entrance and contactless door opening, cashless payments, monitoring energy consumption, air quality, occupancy or contactless reservations – all with connection to the building from one mobile application we provide,” says Petr Bořuta, who is responsible for marketing at Spaceflow.


Flatio provides medium-term housing rentals in 17 markets. This year, they bought NOMADX’s activities in the Portuguese market, where it now offers 2,000 housing opportunities.

Due to Covid-19, it faced a spring income halt, yet it is growing at a double-digit rate compared to last year.

But, it appears that a large number of residential property owners are abandoning the format of short-term leases and looking for medium-term ones.


In the midst of an ongoing pandemic, Upvest managed to achieve two significant milestones in 2020, gradually strengthening its position within the Czech market.

With an increase of 98 %, the company has doubled the volume of invested projects on its platform, exceeding a total of 3 574 investments secured.

Secondly, Upvest partnered with Komerční bank through its subsidiary KB Smart Solutions in July 2020. KB Smart Solutions entered the company by acquiring an 18,9 % share. B

The capital is now being implemented so as to further advance growth and improve the services offered.

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