Urban Real Estate Startup Venn Raises $40 Million

Urban real estate startup Venn Ltd. announced Tuesday the completion of a $40 million series A round. Israel-based Pitango Venture Capital, Hamilton Lane Inc., on behalf of the New York State Common Retirement Fund, and Bridges Israel, an independent affiliate of London-based Bridges Fund Management Ltd., participated in the round.

Founded in 2015, Venn operates co-living and working facilities that aim to promote a sense of community within large cities. Venn’s model uses an app to let residents order groceries and sign up for social activities. Venn currently operates facilities in Brooklyn, Tel Aviv, and Berlin. The company employs 70 people and operates dozens of living facilities. In a statement, Venn said it wants to operate in 100 cities worldwide by 2030.