#PropTech / Mexico City-based Hospitality Startup Casai Raises $48M

Casai, which draws its name from “Casa Intelligente,” or “smart home,” was born out of co-founder and CEO Nico Barawid’s frustration of having to choose between a hotel and an Airbnb rental that often wasn’t up to standard.

The idea behind Casai is that travelers get luxury amenities, locally sourced designs for apartments, and high-tech features throughout the unit, such as keyless check in and smart home devices. Casai doesn’t own the units, but makes arrangements with landlords (often revenue-sharing models), and the units are exclusive to Casai.

The new funding will be used to invest in research and development for the company’s smart home technology and to expand the team.