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Automax.ai raises $5 million to transform home appraisals using AI technology, streamlining the process to just 24 hours. The funding follows an earlier preseed investment and supports further development.

PRIVATEAug 17, 2026•about 4 hours ago

Amount Raised

$5 Million

Round Type

Seed

WaterlooSoftwareArtificial Intelligence

Description

Automax.ai, founded by Humza Ahmed, has secured $5 million in new funding to advance its innovative mobile app for home appraisals. The app utilizes AI, LiDAR, and computer vision to reduce appraisal time from weeks to just 24 hours. The company credits Waterloo’s entrepreneurial ecosystem for its growth and success. With this funding, Automax.ai aims to enhance its services and increase market presence across North America.

Company Information

Company

Automax.ai

Location

Waterloo, Ontario, Canada

About

Automax.ai is a fast-growing startup reinventing the home appraisal industry using AI technology. Their mobile app allows homeowners to scan their properties, capturing 3D models and precise measurements within minutes. By utilizing built-in LiDAR and computer vision, the app streamlines the appraisal process, traditionally taking weeks, to just 24 hours. The company now partners directly with lenders, insurers, and homeowners, rather than working with appraisers.

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