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Grotto AI, based in New York, has raised $10 million in seed funding led by ICONIQ to address the $500 billion vacancy crisis in real estate. The startup emphasizes enhancing human interactions in leasing rather than relying solely on automation.

Their system is currently operational with major operators like Weidner Apartment Homes, managing over 70,000 units. The founders, Nick Deveau and Ben Epstein, have a successful track record, previously contributing to a $730 million acquisition. Early research indicates that interpersonal signals significantly improve leasing conversion rates.