Toronto-based real estate venture builder R-Labs has secured an additional $3.5 million CAD for its evergreen fund, bringing its total raised to $28 million.
The new capital comes from Hatch, which joins as a limited partner (LP) and ecosystem partner, alongside existing LPs such as Oxford Properties, Dorsay Development, and LandSure Systems.
Founded in 2018, R-Labs partners with experienced entrepreneurs and major real estate stakeholders to build startups that address systemic issues in housing—ranging from affordability to sustainability. CEO George Carras emphasized that Canada’s current housing crisis demands bold innovation:
“We’re in an environment here where the traditional business models are not functioning,” Carras said, referring to the fading effectiveness of pre-sale condominium markets amid economic pressures.
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From Housing Affordability to Climate Resiliency
The fresh funding will help R-Labs continue launching new ventures focused on modernizing Canada’s housing sector. Among their past creations are companies like Assembly (mass timber construction), Noah Intelligence (flood-risk assessment), and RIOS (a real estate operating system). So far, R-Labs has co-created 43 ventures and five startups, which have collectively raised $27 million from both R-Labs LPs and external investors.
Carras sees Hatch’s engineering expertise as a key asset to scale the lab’s technical innovation:
“It expands the capabilities of the lab to add in this very important engineering innovation dimension.”
Looking ahead, R-Labs aims to push solutions such as off-site modular housing, which can cut costs, reduce emissions, and speed up construction timelines. The firm’s REALFounders program—an accelerator for founders with real estate-focused startup ideas—is currently accepting applications for its second cohort.
In Carras’ words:
“This is great evidence of a community of innovators in Canada that are coming together in this Canadian crisis-tunity moment.”
