Sunday 10 July 2022
Pupil, a global spatial data technology company, has announced that it has completed a deal to acquire surveying firm AUS-SURV Middle East LLC (ASME).
Founded in 2008, ASME specializes in property measurement in the UAE and has completed more than 600 high-rise and mixed-use development projects across the country. Pupil, on the other hand, is specialized in digitally mapping the built world, taking physical buildings offline and digitizing them.
Through its products, Spec and Stak, Pupil combines AI and industrial-grade scanning hardware to capture millions of points of measurement to document real estate and produce digital twins of the spaces. To date, the company has digitized over 50,000 buildings in London with a value of more than USD 50 billion.
Pupil was founded in London in 2015 and expanded into Dubai in 2021, where it was granted the status of Certified Surveying Company by the Dubai Land Department.
The company developed its next-generation technology through a five-year research and development program and has raised USD 45 million to date. Its technology aims to add value to the USD 327 trillion global real estate market.
The acquisition of ASME forms an important part of Pupil’s expansion in the UAE, where the company is servicing increasing demand from real estate developers. The deal is also expected to facilitate Pupil’s growth in the region.
Through Spec and Stak, Pupil has developed the capability to create and sell verified NFTs of the properties it captures. It has finalized a deal to produce NFTs for every unit of a landmark development in Dubai, giving buyers the opportunity to own the NFT of their property.
Pupil has also expanded to New York in 2021 and opened an office in Singapore in early 2022. This will be followed by global expansion into an additional 64 cities to deliver the company’s products to the world’s most influential real estate markets.