Presidio Ventures makes strategic investment in Ori
Presidio Ventures, a Sumitomo Corporation of Americas (SCOA) Group Company, has joined with existing investors Khosla Ventures, Alphabet, Ingka Investments (of the IKEA Group) and Geolo Capital to participate in Ori’s recently closed round of equity financing. Led by South Korean conglomerate, Eugene Group, this funding positions the rapidly growing Boston-New York- based startup for expansion in the APAC market.
“We’re excited by our investment in Ori, which supports Presidio’s investment thesis surrounding urban population growth,” said Doug Kuribayashi, CEO of Presidio Ventures. “Globally, the mass urbanization trend is accelerating. For decades we have been watching the tightening of supply for urban living space and believe that in the coming years this will become especially acute, causing apartment rents and home prices to soar and become out of reach for many. Ori’s clever innovations tackle this problem head-on by enabling developers to build more liv