reAlpha Tech Corp. (“reAlpha”) (Nasdaq: AIRE), a real estate
technology company developing and commercializing artificial
intelligence (“AI”) technologies, today announced the selection of
Xmore AI as the first company to secure investment from its newly
launched reAlpha AI Labs, reAlpha’s research and development
initiative.
Xmore AI, co-founded by Dr. Benjamin Yan and
Adrian Self, leverages over a decade of research in AI-driven
cybersecurity and has developed a platform that consolidates
multiple cybersecurity tools into a seamless, AI-driven solution,
ensuring that enterprises can operate securely in a rapidly
evolving digital environment. Dr. Yan is a Professor of Computer
Science and Engineering at Michigan State University. Adrian Self,
a cybersecurity professional with extensive experience in
blockchain security and embedded systems, complements Dr. Yan’s
expertise with his hands-on approach to security assessments and
technology integration. This investment marks a strategic milestone
for reAlpha AI Labs to accelerate the development of AI
technologies and advance technology innovation in the real estate
industry.
Mike Logozzo, President and Chief Operating
Officer of reAlpha, emphasized the broader impact of Xmore AI’s
technology: “At reAlpha AI Labs, we aim to create an environment
where innovative AI startups can thrive. Xmore AI’s focus on
cybersecurity aligns with our vision and we believe Xmore AI’s
technology will enhance the security and scalability across our AI
homebuying platform and our recently acquired portfolio companies.”
reAlpha’s recently acquired portfolio companies include Naamche,
Hyperfast, Be My Neighbor, and AiChat.
“Xmore AI represents the next generation of
forward-thinking innovation we envisioned to collaborate with when
we launched reAlpha AI Labs,” said Vinayak Grover, Associate Vice
President of AI Labs at reAlpha. “Their expertise in cybersecurity,
particularly for AI operations, will be critical as AI becomes more
integrated into enterprise systems.”
In addition to enhancing reAlpha’s AI homebuying
platform through its AI-cybersecurity expertise, Xmore AI is
developing a software that will consolidate multiple cybersecurity
tools to provide AI-cybersecurity solutions to enterprises in
multiple industries. At the core of Xmore AI’s innovation is its
ability to address the unique vulnerabilities created by the rapid
expansion of AI across industries. We believe Xmore AI is
well-positioned to address critical challenges like data privacy,
compliance, and risk management, by providing innovative solutions
designed to meet the evolving needs of the cybersecurity
landscape.
“With AI becoming more integrated into how
businesses operate, it is essential that cybersecurity evolves
alongside it,” said Dr. Yan, co-founder and Chief Executive Officer
of Xmore AI. “Through our partnership with reAlpha AI Labs, we
believe we are in a position to deliver scalable, cutting-edge
security solutions that protect enterprises from the emerging risks
of AI integration.”
Launched earlier this year, reAlpha AI Labs is
designed to support innovative AI startups with funding, technical
resources, and strategic partnerships. By providing early-stage
funding along with access to reAlpha’s extensive network, the
program is committed to accelerating the growth and efficacy of
AI-driven solutions.
The incubation of Xmore AI not only highlights
reAlpha AI Labs’ commitment to cybersecurity, but it also marks
reAlpha AI Labs' broader mission to drive AI advancements across
sectors like real estate, fintech, and enterprise technology.
About reAlpha Tech Corp.
reAlpha Tech Corp. (Nasdaq: AIRE) is a real
estate technology company developing an end-to-end commission-free
homebuying platform. Utilizing the power of AI and an
acquisition-led growth strategy, reAlpha’s goal is to offer a more
affordable, streamlined experience for those on the journey to
homeownership. For more information, visit
https://www.realpha.com/.
About Xmore AI
Xmore AI is developing a software that will
offer innovative AI-driven cybersecurity solutions by consolidating
multiple cybersecurity tools into a single platform, which will
provide real-time risk analysis, vulnerability detection, and IT
operations management, all while ensuring privacy by keeping data
within the enterprise.
About the reAlpha Platform
reAlpha (previously called “Claire”), announced
on April 24, 2024, is reAlpha’s generative AI-powered,
commission-free, homebuying platform. The tagline: No fees. Just
keys.™ – reflects reAlpha’s dedication to eliminating traditional
barriers and making homebuying more accessible and transparent.
reAlpha’s introduction aligns with major shifts
in the real estate sector after the National Association of
Realtors agreed to settle certain lawsuits upon being found to have
violated antitrust laws, resulting in inflated fees paid to
buy-side agents. This development is expected to result in the end
of the standard six percent sales commission, which equates to
approximately $100 billion in realtor fees paid annually. The
reAlpha platform offers a cost-free alternative for homebuyers by
utilizing an AI-driven workflow that assists them through the
homebuying process.
Homebuyers using the reAlpha platform’s
conversational interface will be able to interact with Claire,
reAlpha’s AI buyer’s agent, to guide them through every step of
their homebuying journey, from property search to closing the deal.
By offering support 24/7, Claire is poised to make the homebuying
process more efficient, enjoyable, and cost-efficient. Claire
matches buyers with their dream homes using over 400 data
attributes and provides insights into market trends and property
values. Additionally, Claire can assist with questions, booking
property tours, submitting offers, and negotiations.
Currently, the reAlpha platform is under limited
availability for homebuyers located in 20 counties in Florida, but
reAlpha is actively seeking new MLS and brokerage licenses that
will enable expansion into more U.S. states.
Forward-Looking Statements
The information in this press release includes
“forward-looking statements”. Forward-looking statements include,
among other things, statements about Xmore AI’s technology and the
reAlpha AI Labs initiative; the anticipated benefits of Xmore AI’s
technology and the reAlpha AI Labs initiative; 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 terminology such as “may”, “should”, “could”,
“might”, “plan”, “possible”, “project”, “strive”, “budget”,
“forecast”, “expect”, “intend”, “will”, “estimate”, “anticipate”,
“believe”, “predict”, “potential” or “continue”, or the negatives
of these terms or variations of them or similar terminology.
Factors that may cause actual results to differ materially from
current expectations include, but are not limited to: reAlpha’s
limited operating history and 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 leverage
Xmore AI’s technology and the reAlpha AI Labs initiative into its
existing business and the anticipated demand for reAlpha AI Labs
collaborations and partnerships; Xmore AI’s ability to develop its
software to consolidate cybersecurity tools to provide
AI-cybersecurity solutions to enterprises and the anticipated
demand for such software; the inability to maintain and strengthen
reAlpha’s brand and reputation; the inability to accurately
forecast demand for short-term rentals and AI-based real estate
focused products; the inability to execute business objectives and
growth strategies successfully 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 the
regulatory environment and complexities with compliance related to
such environment; and other risks and uncertainties indicated in
reAlpha’s U.S. Securities and Exchange Commission (“SEC”) filings.
Forward-looking statements are based on the opinions and estimates
of management at the date the statements are made and are subject
to a variety 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 contemplated,
expressed or implied by the forward-looking statements, and there
is no representation that the actual results achieved will be the
same, in whole or in part, as those set out in the forward-looking
statements. For more information about the factors that could cause
such differences, please refer to reAlpha’s filings with the SEC.
Readers are cautioned not to put undue reliance on forward-looking
statements, and reAlpha does not undertake any 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.
Mediairlabs on behalf of
reAlphaFatema Bhabrawalafatema@irlabs.ca
1 https://market.us/report/ai-in-cybersecurity-market/
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