New research and development initiative enables startups to gain potential funding and strategic partnerships

Dublin, Ohio–(Newsfile Corp. – August 15, 2024) – reAlpha Tech Corp. (NASDAQ: AIRE) (“reAlpha”), a real estate technology company developing and commercializing artificial intelligence (“AI”) technologies, today announced the launch of reAlpha AI Labs, a research and development initiative to develop, partner with, and potentially invest in AI startups. This strategic initiative will provide early-stage companies with a platform that will enable them to accelerate their growth. We expect the products and services developed by the incubated startups to be used to enhance Claire, reAlpha’s generative, AI-powered, commission-free home buying platform.

The AI ​​sector recorded a remarkable $25.2 billion in global investments in generative AI in 2023¹almost nine times as much as in 2022, which underlines the increasing interest and increased pace of development in this industry.

As the AI ​​world evolves toward “artificial general intelligence,” reAlpha AI Labs will drive innovation in four key phases: (1) developing foundational AI infrastructure; (2) pioneering generative AI for real estate; (3) leveraging the Internet of Things (IoT) and advanced analytics for smarter real estate acquisition solutions; and (4) integrating blockchain and fintech tools and solutions for greater transaction security and efficiency when acquiring a property.

By working on these four key phases, reAlpha AI Labs intends to foster a culture of continuous innovation and technological advancement that reAlpha believes will advance its goal of being at the forefront of AI-driven real estate solutions. In addition, reAlpha plans to partner with universities through reAlpha AI Labs to further expand its research and development capabilities, foster collaboration, and advance forward-thinking initiatives in the real estate industry.

“We are committed to pushing the boundaries of AI advancement. The rapid pace of innovation in the AI ​​industry provides us with unprecedented opportunities to stay at the forefront and continually improve our product offerings,” said Mike Logozzo, Chief Operating Officer, President and Interim Chief Financial Officer of reAlpha. “We remain committed to working to develop new technologies and accelerate progress in the industry.”

“Our goal is to create an ecosystem where innovative startups can succeed by leveraging our resources and established market presence,” said Vinayak Grover, Associate Vice President at reAlpha. “By focusing on strategic partnerships and investments, we aim to drive growth and innovation across our entire product portfolio.”

Startups interested in partnering with reAlpha AI Labs are invited to contact reAlpha and explore collaboration opportunities. For more details and information on how to get involved in driving AI innovation, visit the reAlpha AI Labs website at https://ai-labs.realpha.com/.

About reAlpha Tech Corp.

reAlpha Tech Corp. (NASDAQ: AIRE) is a real estate technology company developing a commission-free, end-to-end home buying platform. reAlpha’s goal is to use the power of AI and an acquisition-led growth strategy to deliver a more affordable and streamlined experience for those on the path to homeownership. For more information, visit www.realpha.com.

About Claire

Claire, announced on April 24, 2024, is reAlpha’s generative, AI-powered, commission-free home buying platform. The slogan: No fees. Just the keys.^TM – reflects reAlpha’s commitment to removing traditional barriers and making home buying more accessible and transparent.

The launch of Claire coincides with major changes in the real estate sector after the National Association of Realtors (“NAR”) agreed to settle certain lawsuits after they were found to have violated antitrust laws, resulting in excessive fees for buy-side agents. This development is expected to lead to the end of the standard six percent sales commission, which equates to approximately $100 billion in agent fees paid annually. Claire offers a free alternative for home buyers by leveraging an AI-driven workflow that guides them through the home buying process.

Homebuyers can use Claire’s conversational interface to guide them through every step of their journey, from property search to closing. With 24/7 support, Claire is able to make the home buying process more efficient, enjoyable and cost-effective. Claire matches buyers with their dream home using over 400 data attributes and provides insights into market trends and property values. Additionally, Claire can assist with questions, booking property viewings, making offers and negotiating.

Currently, Claire has limited availability for homebuyers in Palm Beach, Miami-Dade and Broward counties in South Florida, but reAlpha is actively seeking new MLS and brokerage licenses that will allow expansion into additional U.S. states.

For more information about Claire, visit www.reAlpha.com.

Forward-looking statements

The information in this press release contains “forward-looking statements.” Forward-looking statements include, but are not limited to, statements regarding the reAlpha AI Labs initiative, the expected benefits of reAlpha AI Labs, reAlpha’s ability to anticipate the future needs of the short-term rental market, future trends in the real estate, technology and artificial intelligence industries generally, and reAlpha’s future growth strategy and growth rate. In some cases, you can identify forward-looking statements by terms such as “may,” “should,” “could,” “may,” “project,” “seek,” “budget,” “forecast,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential,” or “continue,” or the negative of these terms or variations thereof or similar terminology. Factors that could cause actual results to differ materially from current expectations include, among others: reAlpha’s limited operating history and the fact that reAlpha has not yet fully developed its AI-based technologies; reAlpha’s ability to commercialize its developing AI-based technologies; whether reAlpha’s technology and products will be accepted and adopted by its customers and intended users; reAlpha’s ability to integrate the reAlpha AI Labs initiative into its existing business and the expected demand for collaborations and partnerships with reAlpha AI Labs; the inability to maintain and enhance reAlpha’s brand and reputation; the inability to accurately predict demand for short-term rentals and AI-based real estate-focused products; the inability to successfully implement business objectives and growth strategies or sustain reAlpha’s growth; the inability of reAlpha’s customers to pay for reAlpha’s services; changes in applicable laws or regulations and the impact of and complexities in complying with the regulatory environment; and other risks and uncertainties set forth in reAlpha’s filings with the U.S. Securities and Exchange Commission (“SEC”). Forward-looking statements are based on the opinions and estimates of management at the time the statements are made and are subject to a number of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Although reAlpha believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. reAlpha’s future results, level of activity, performance or achievements may differ materially from those anticipated, expressed or implied by the forward-looking statements, and there can be no assurance that actual results achieved will be the same, in whole or in part, as those set forth in the forward-looking statements. For more information on the factors that could cause such differences, see reAlpha’s filings with the SEC. Readers are cautioned not to place undue reliance on forward-looking statements, and reAlpha undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Investor Relations Contact
[email protected]

media
irlabs on behalf of reAlpha
Fatema Bhabrawala
[email protected]

¹ https://www.lexology.com/library/detail.aspx?g=e246c259-d962-450c-8bb9-029101f5d207#:~:text=Unsurprisingly%2C%20AI%20investment%20skewed%20heavily,times%20the%20amount %20in%202019.

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