Investment and Funding Roundup: Avito, Alma Media, Housr

This week saw more investment in AI tools, and an interesting climate-focused acquisition in the Nordics...

Europe: Avito invests $6 million in a new AI assistant

Russia's largest classifieds marketplace Avito has begun development of a new AI assistant, Avi, with circa RUB 500 million (USD 6.16 million) estimated to have been poured into the product.

According to reporting from Russian language outlet Kommersant, Avi will assist users through natural dialogue, and a trademark application has already been submitted to Russia's Federal Service for Intellectual Property.

Avito is currently testing the model, with a full launch planned for all platform verticals next year. Avito says it will invest up to RUB 12 billion (USD 15 million) into AI technology by 2028.

Avi is built on a large language model and will help users solve everyday problems via natural language conversations. Avi will be able to respond in kind and also suggest suitable solutions thanks to an AI-powered recommendation system.

Sources told Kommersant:

"The technology is necessary to provide users with the now-familiar interface for searching and selecting products through natural language queries. "If Avito creates its own assistant and blocks other language models from accessing its website, its product listings will also be limited in the search models to which the neural network is linked."

Dmitry Kolesov, Director of the New Technologies Department at J'son & Partners Consulting, added, "This is the right approach in terms of quick returns and increasing user loyalty."

Alma Media acquires climate data specialist Climatrix

Alma Media Finland Oy has acquired Climatrix, a digital reporting service for physical climate risks, from DirectionLab Oy. The deal expands Alma’s capabilities in real estate analytics, particularly in climate risk management.

According to a press release, the transaction concerns an early-stage business and is not expected to materially affect Alma Media’s financial results in the next two years.

Climatrix provides structured climate risk assessments for the real estate, insurance, and financial sectors. The tool enables scenario-based, time-bound analyses that align with EU taxonomy and ESG reporting frameworks. It quantifies exposure to extreme weather risks and physical climate threats in a standardised format.

The solution is already integrated into Alma Insights’ Asuntopuntari, an AI-driven platform for evaluating property values, sales potential, and risk factors. Asuntopuntari is positioned as a valuation and decision-support tool for housing professionals.

Tuomo Räsänen, Vice President of Alma Marketplaces Real Estate, said:

"Climatrix complements Asuntopuntari’s property assessments and makes climate risk analysis measurable and continuous risk management easy. As climate change intensifies extreme weather events, it is crucial to understand where and when potential risks may occur and their possible financial impact."

Alma Media plans to scale Climatrix as part of its real estate data offering. The acquisition strengthens Alma’s product set in a regulatory environment where climate risk transparency and sustainability metrics are increasingly embedded in real estate investment and financing decisions.

Kari Tuukkanen, founder of Climatrix and CEO of DirectionLab Oy, said:

"I am pleased that Climatrix, the advanced climate risk analysis service that we have developed, will find a new home at Alma, where it will have strong resources to grow and scale into Finland’s and Europe’s leading service—as part of Alma’s comprehensive property data service package."

United Kingdom: UK student rentals specialist Housr raises $10M in Series A funding

The Manchester-based student housing marketplace Housr says it will expand across the UK and the US after raising a Series A funding round worth $10 million.

The round was led by Ashta Capital with participation from previous investors.

Housr offers a marketplace for student rentals and a roommate matching service. The company has several perks across food and drinks, fitness, clothes shopping and music streaming.

Agents benefit from a streamlined property management solution and can also earn money by advertising on the Housr platform, tenant screening, and an agent dashboard.

The company already operates in the UK and the US.

Harry Panter, CEO at Housr, said:

"This Series A funding is a powerful validation of our team’s vision and the measurable impact we’re having on the student rental industry. The market is rapidly shifting towards demand for an all-in-one, student OS, with the home at the heart of everything, and our platform is uniquely positioned to capitalize on that demand. With the backing of Ashta Capital, we can accelerate our roadmap to deliver rapid expansion across the US, along with the rollout of new products that will genuinely change the way students rent but also interact with their finances and everything that is not their degree, whilst at university. We aim to service 1,000,000 students across the UK and US within the next 12 months. Our mission is to change student rental, forever."

Housr previously raised $1.9 million in 2023 and has now raised over $13 million since its foundation in 2022.