Planet Smart City, a London headquartered specialist in smart affordable housing, has launched a EUR60 million capital raise to accelerate the Group’s ambitious business plans.
Since its establishment in 2015, Planet Smart City, which specialises in large-scale projects that create smart neighbourhoods and affordable homes – has raised more than EUR160 million, from 390 institutional and private investors. In 2021, the Group recorded revenues of approximately USD105 million dollars (EUR93 million), doubling the result of 2020 which had been USD52 million dollars.
The EUR60 million capital increase is aimed at accelerating the implementation of Planet’s ambitious business plan that includes the launch of approximately 54 smart projects over the next three years (a total of over 40,000 housing units). This will provide a platform to help establish Planet as a world leader in the affordable housing segment by 2030 with more than 45,000 homes sold each year.