Prologis is a global leader in logistics for real estate and has deployed TestFit’s real-time AI to help the company better judge the feasibility of new warehouse sites. Prologis Ventures co-led the Series A round with Parkway Venture Capital, which closed back in June 2022, along with the additional investor Perot Jain.
TestFit’s AI-based design platform has been helping architects and real estate development professionals test fit sites for largely multi-family residential development and similar modular structures. TestFit has become the gold standard in real estate feasibility digital tools for insights into design, constructability, and costs in the early-stage planning process. Today, 50 percent of the top ten multifamily developers today use it.
The venture arm of a global real estate leader in logistics in the industry, Prologis Ventures, focuses investments on innovative solutions that help solve the most pressing pain points in areas such as operations, sustainability, energy and construction. The company has been piloting TestFit to give its teams real-time insights on design, evaluation of constructability, and forecasting of costs for new logistics sites.
“Innovation and staying ahead of what’s next has been fundamental to our company’s forty-year success,” said Will O’Donnell, Managing Director, Prologis Ventures. “TestFit is a perfect example of how we continually invest in new technologies such as AI that empower our employees.”
“Prologis is a great case study on how meaningful AI can supercharge the feasibility process,” said Clifton Harness, CEO and Co-founder, TestFit. “TestFit has helped existing customers speed up their site planning by as much as ten times. It’s incredible to see the success we’ve seen in multi-family applied in the industrial space.”
TestFit’s Chief Product Officer Kyle Bernhardt will be a speaker at Prologis’s annual thought leadership forum GROUNDBREAKERS on September 27 in San Francisco and streamed globally. Bernhardt will participate in the “The Supply Chain Is Still the Supply Chain, Until AI Steps In” panel.
The partnership between Prologis and TestFit will be profiled in an upcoming webinar titled, “It’s Time to Get AI-Ready in Real Estate Development,” on October 26, hosted by TestFit CEO Clifton Harness and Will O’Donnell, Managing Director, Prologis Ventures.