Pittsburgh, Pennsylvania (PRWEB) December 02, 2015
Omicelo and Instadat announce that the two companies have formed a strategic partnership to provide unique insights into the real estate and real estate technology industries using highly predictive data analytics.
“After 10 years of data analysis on Wall Street I am excited to invest in high-performing, prediction-focused artificial intelligence companies like Instadat with world class technology, passionate founders and defensible intellectual property,” stated Joshua Pollard, the CEO of Omicelo and former head of Goldman Sachs’ residential real estate research. He continued “Instadat’s deep learning tools increase our power to understand real estate values at the block level and unlock insights that are not yet utilized by many of the most revered real estate institutions in the world.” Omicelo, which invests in hard real estate assets and advises real estate technology companies, aims to push data’s role in rebuilding US neighborhoods while inciting growth in the cresting real estate technology space that remains more than a decade behind other technology verticals.
In the preliminary round of predicting future home appreciation in our first test market, Pittsburgh, PA, Instadat’s Nomad III system was able to accurately predict 8 of every 10 homes that doubled in value in less than 5 years. “We expect the accuracy rate to improve, above 90 percent, as we incorporate more and more proprietary data we recently began collecting” stated George Kailas, the CEO of Instadat.
Bud Mishra, Instadat’s advisor and a professor of computer science and mathematics at NYU’s Courant Institute of Mathematical Sciences stated, “the combination of world-class domain knowledge and our highly predictive data-science tools have resulted in deep insights in the past; this partnership has that kind of potential in the robust real estate industry.” Mr. Mishra is also a professor of human genetics at Mt. Sinai School of Medicine and a professor of cell biology at NYU School of Medicine.
Financial terms of the partnership were not disclosed.
Omicelo is a real estate and real estate technology investment firm and advisory. The company focuses on end-to-end execution for its real estate clients, leverages its 7 Pillars® process to assist disruptive and profitable real estate technology businesses where growth will be robust, and aims to create long term value through investments in hard assets in target US markets. Visit the company online at http://www.omicelo.com.
Instadat is an artificial intelligence company located in NYC focused on predictive analytics for financial collateral and markets. In May 2015 Instadat filed joint invention patents with NYU for its evolutionary deep learning and feature engineering feedback loop which builds and develops populations of gene expressed AI systems for classification targets enabling extremely efficient and accurate forecasts.
This news release does not constitute an offer to sell or a solicitation of an offer to buy and of the securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended the U.S. Securities Act, and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act