Algoma Secures $2.3 Million Seed Funding for Real Estate Development Platform
Algoma, an AI-native platform designed to streamline real estate development, has raised $2.3 million in seed funding. The round was led by Zacua Ventures, with involvement from SOSV, Iron Prairie Ventures, DOMiNO Ventures, Compose VC, and a group of angel investors experienced in AI, construction, and real estate sectors.
The company also received two grants supporting sustainable construction innovation. These came from the NYC Mass Timber Studio, led by the New York City Economic Development Corporation, and the Georgia Mass Timber Accelerator, organized by the Georgia Forestry Foundation.
What Algoma Does
Algoma’s platform accelerates decision-making for real estate developers by delivering site feasibility analyses in minutes. It combines market intelligence, zoning rules, capacity calculations, construction cost data, and pro forma modeling into a single tool. This approach helps developers make faster go/no-go decisions at a fraction of the usual cost.
The platform specifically targets small to mid-sized developers working on urban infill, mixed-use developments, affordable, and workforce housing—projects that form the backbone of urban growth across the U.S.
Key Features of the Algoma Platform
- Instant zoning analysis
- Market intelligence
- Site-specific design massing
- Unit mix and layouts
- Pro forma generation
- Visualization tools for investors and agencies
Use of Funds
The new funding will help Algoma expand its engineering team, enhance its product offerings, and advance its web-based platform.
What Industry Leaders Say
Vivin Hegde, General Partner at Zacua Ventures:
“We invested in Algoma because they’re solving a foundational problem in the built environment, bringing speed, structure, and confidence to site selection and feasibility. Their platform empowers developers and contractors to make smarter decisions earlier, and we believe it will become an essential part of how the industry evaluates and executes new projects.”
Josef Bromovsky, Co-Founder and CEO of Algoma:
“Our team understands the complexity of site analysis firsthand. Zoning codes are often buried in PDFs, developers rely on dozens of consultants, and they spend thousands of dollars and weeks—if not months—just figuring out if a site is viable. They try to stitch together spreadsheets, emails, and rough pro formas, only to find the opportunity has passed by the time they decide. That’s why we built Algoma: to bring speed, clarity, and intelligence to developers.”
Seyfihan Usarer, Co-Founder and COO of Algoma:
“We’re giving real estate developers superpowers, helping them prepare investor-ready presentations in just a few days. By democratizing feasibility studies, we enable developers to move faster, evaluate more deals, and make better decisions with less risk. The result is more projects breaking ground and more housing entering the pipeline.”
Kyle MertensMeyer, Co-Founder and CPO of Algoma:
“Real estate has long relied on back-of-the-envelope calculations and slow processes. We knew there was a better way. By engaging closely with users and focusing on their specific pain points, we’ve built a product that reduces risk for developers and earns their trust. That’s how we’re creating long-term loyalty for Algoma.”
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