RealPha Invests in XMore AI to Boost AI-Powered Cybersecurity Solutions

reAlpha Invests in Xmore AI to Advance AI-Powered Cybersecurity Solutions - ReAlpha Tech (NASDAQ:AIRE)

DUBLIN, Ohio, Sept. 30, 2024 (GLOBE NEWSWIRE) -- reAlpha Tech Corp. ("reAlpha") AIRE, a real estate technology company developing and commercializing artificial intelligence ("AI") technologies, today announced the selection of Xmore AI as the first company to secure investment from its newly launched reAlpha AI Labs, reAlpha's research and development initiative. Xmore AI, co-founded by Dr. Benjamin Yan and Adrian Self, leverages over a decade of research in AI-driven cybersecurity and has developed a platform that consolidates multiple cybersecurity tools into a seamless, AI-driven solution, ensuring that enterprises can operate securely in a rapidly evolving digital environment. Dr. Yan is a Professor of Computer Science and Engineering at Michigan State University. Adrian Self, a cybersecurity professional with extensive experience in blockchain security and embedded systems, complements Dr. Yan's expertise with his hands-on approach to security assessments and technology integration. This investment marks a strategic milestone for reAlpha AI Labs to accelerate the development of AI technologies and advance technology innovation in the real estate industry. Mike Logozzo, President and Chief Operating Officer of reAlpha, emphasized the broader impact of Xmore AI's technology: "At reAlpha AI Labs, we aim to create an environment where innovative AI startups can thrive. Xmore AI's focus on cybersecurity aligns with our vision and we believe Xmore AI's technology will enhance the security and scalability across our AI homebuying platform and our recently acquired portfolio companies." reAlpha's recently acquired portfolio companies include Naamche, Hyperfast, Be My Neighbor, and AiChat. "Xmore AI represents the next generation of forward-thinking innovation we envisioned to collaborate with when we launched reAlpha AI Labs," said Vinayak Grover, Associate Vice President of AI Labs at reAlpha. "Their expertise in cybersecurity, particularly for AI operations, will be critical as AI becomes more integrated into enterprise systems." In addition to enhancing reAlpha's AI homebuying platform through its AI-cybersecurity expertise, Xmore AI is developing a software that will consolidate multiple cybersecurity tools to provide AI-cybersecurity solutions to enterprises in multiple industries. At the core of Xmore AI's innovation is its ability to address the unique vulnerabilities created by the rapid expansion of AI across industries. We believe Xmore AI is well-positioned to address critical challenges like data privacy, compliance, and risk management, by providing innovative solutions designed to meet the evolving needs of the cybersecurity landscape. "With AI becoming more integrated into how businesses operate, it is essential that cybersecurity evolves alongside it," said Dr. Yan, co-founder and Chief Executive Officer of Xmore AI. "Through our partnership with reAlpha AI Labs, we believe we are in a position to deliver scalable, cutting-edge security solutions that protect enterprises from the emerging risks of AI integration." Launched earlier this year, reAlpha AI Labs is designed to support innovative AI startups with funding, technical resources, and strategic partnerships. By providing early-stage funding along with access to reAlpha's extensive network, the program is committed to accelerating the growth and efficacy of AI-driven solutions. The incubation of Xmore AI not only highlights reAlpha AI Labs' commitment to cybersecurity, but it also marks reAlpha AI Labs' broader mission to drive AI advancements across sectors like real estate, fintech, and enterprise technology. About reAlpha Tech Corp. reAlpha Tech Corp. AIRE is a real estate technology company developing an end-to-end commission-free homebuying platform. Utilizing the power of AI and an acquisition-led growth strategy, reAlpha's goal is to offer a more affordable, streamlined experience for those on the journey to homeownership. For more information, visit https://www.realpha.com/. About Xmore AI Xmore AI is developing a software that will offer innovative AI-driven cybersecurity solutions by consolidating multiple cybersecurity tools into a single platform, which will provide real-time risk analysis, vulnerability detection, and IT operations management, all while ensuring privacy by keeping data within the enterprise. About the reAlpha Platform reAlpha (previously called "Claire"), announced on April 24, 2024, is reAlpha's generative AI-powered, commission-free, homebuying platform. The tagline: No fees. Just keys.™ - reflects reAlpha's dedication to eliminating traditional barriers and making homebuying more accessible and transparent. reAlpha's introduction aligns with major shifts in the real estate sector after the National Association of Realtors agreed to settle certain lawsuits upon being found to have violated antitrust laws, resulting in inflated fees paid to buy-side agents. This development is expected to result in the end of the standard six percent sales commission, which equates to approximately $100 billion in realtor fees paid annually. The reAlpha platform offers a cost-free alternative for homebuyers by utilizing an AI-driven workflow that assists them through the homebuying process. Homebuyers using the reAlpha platform's conversational interface will be able to interact with Claire, reAlpha's AI buyer's agent, to guide them through every step of their homebuying journey, from property search to closing the deal. By offering support 24/7, Claire is poised to make the homebuying process more efficient, enjoyable, and cost-efficient. Claire matches buyers with their dream homes using over 400 data attributes and provides insights into market trends and property values. Additionally, Claire can assist with questions, booking property tours, submitting offers, and negotiations. Currently, the reAlpha platform is under limited availability for homebuyers located in 20 counties in Florida, but reAlpha is actively seeking new MLS and brokerage licenses that will enable expansion into more U.S. states. The information in this press release includes "forward-looking statements". Forward-looking statements include, among other things, statements about Xmore AI's technology and the reAlpha AI Labs initiative; the anticipated benefits of Xmore AI's technology and the reAlpha AI Labs initiative; reAlpha's ability to anticipate the future needs of the short-term rental market; future trends in the real estate, technology and artificial intelligence industries, generally; and reAlpha's future growth strategy and growth rate. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "could", "might", "plan", "possible", "project", "strive", "budget", "forecast", "expect", "intend", "will", "estimate", "anticipate", "believe", "predict", "potential" or "continue", or the negatives of these terms or variations of them or similar terminology. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: reAlpha's limited operating history and that reAlpha has not yet fully developed its AI-based technologies; reAlpha's ability to commercialize its developing AI-based technologies; whether reAlpha's technology and products will be accepted and adopted by its customers and intended users; reAlpha's ability to leverage Xmore AI's technology and the reAlpha AI Labs initiative into its existing business and the anticipated demand for reAlpha AI Labs collaborations and partnerships; Xmore AI's ability to develop its software to consolidate cybersecurity tools to provide AI-cybersecurity solutions to enterprises and the anticipated demand for such software; the inability to maintain and strengthen reAlpha's brand and reputation; the inability to accurately forecast demand for short-term rentals and AI-based real estate focused products; the inability to execute business objectives and growth strategies successfully or sustain reAlpha's growth; the inability of reAlpha's customers to pay for reAlpha's services; changes in applicable laws or regulations, and the impact of the regulatory environment and complexities with compliance related to such environment; and other risks and uncertainties indicated in reAlpha's U.S. Securities and Exchange Commission ("SEC") filings. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Although reAlpha believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. reAlpha's future results, level of activity, performance or achievements may differ materially from those contemplated, expressed or implied by the forward-looking statements, and there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements. For more information about the factors that could cause such differences, please refer to reAlpha's filings with the SEC. Readers are cautioned not to put undue reliance on forward-looking statements, and reAlpha does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Media irlabs on behalf of reAlpha Fatema Bhabrawala fatema@irlabs.ca 1 https://market.us/report/ai-in-cybersecurity-market/ Market News and Data brought to you by Benzinga APIs

reAlpha Tech invests in AI cybersecurity firm Xmore AI By Investing.com

DUBLIN, Ohio - reAlpha Tech Corp. (NASDAQ:AIRE), a real estate technology company, has announced a strategic investment in Xmore AI through its reAlpha AI Labs initiative. Xmore AI, co-founded by Dr. Benjamin Yan and Adrian Self, specializes in AI-driven cybersecurity solutions aimed at enhancing enterprise security in the digital age. The partnership with Xmore AI is a significant move for reAlpha AI Labs, which seeks to foster innovation in AI technologies. Xmore AI's platform is designed to consolidate various cybersecurity tools into a unified, AI-powered solution to address the growing needs of enterprises facing complex digital threats. Dr. Yan, a computer science professor at Michigan State University, and Adrian Self, an experienced cybersecurity professional, bring a combination of academic research and practical expertise to the venture. Their collaboration aims to bolster the security features of reAlpha's AI homebuying platform and extend protection to its recent acquisitions, including Naamche, Hyperfast, Be My Neighbor, and AiChat. Mike Logozzo, President and COO of reAlpha, highlighted the potential for Xmore AI's technology to enhance security across their platforms and portfolio companies. Vinayak Grover, Associate Vice President of AI Labs at reAlpha, also emphasized the importance of cybersecurity in the integration of AI into enterprise systems. Xmore AI's software development focuses on real-time risk analysis, vulnerability detection, and IT operations management, with a strong emphasis on maintaining data privacy within enterprises. This approach addresses the unique challenges posed by AI's expansion across various industries. Launched earlier in 2024, reAlpha AI Labs supports AI startups with funding, technical resources, and strategic partnerships. The incubation of Xmore AI underscores the initiative's commitment to advancing AI technology in sectors such as real estate, fintech, and enterprise technology. The reAlpha platform, known as Claire, offers a commission-free, AI-powered homebuying experience. This initiative aligns with industry shifts following the National Association of Realtors' antitrust lawsuit settlement, potentially ending the standard six percent sales commission. Claire aims to provide a more accessible and transparent homebuying process, leveraging AI to guide buyers from property search to deal closing. This investment announcement is based on a press release statement and reflects the company's forward-looking perspective on the potential impact of the partnership on the cybersecurity and AI landscapes. In other recent news, reAlpha Tech Corp. has been making strategic moves to expand its operations. The company has recently acquired mortgage brokerage Be My Neighbor, a move that complements its strategy of integrating various aspects of the homebuying process. This acquisition is expected to streamline the consumer experience and generate additional revenue streams. On a similar note, reAlpha has also acquired an 85% equity stake in Singapore-based AiChat Pte. Ltd., a developer of AI-driven conversational customer experience solutions. This acquisition is expected to enhance reAlpha's technological offerings, particularly by integrating AiChat's multi-language conversational AI into its platforms. In addition to these acquisitions, reAlpha launched reAlpha AI Labs, a new research and development wing dedicated to fostering growth and innovation within the AI industry. This initiative aims to support the development of technologies that will integrate with reAlpha's AI-driven homebuying platform, Claire. In an executive shift, reAlpha announced the immediate termination of its Chief Financial Officer, Michael Frenz. Michael J. Logozzo, the current Chief Operating Officer and President of reAlpha, has been appointed as the interim Chief Financial Officer. These recent developments reflect reAlpha's strategic moves in the real estate and AI sectors. reAlpha Tech Corp.'s (NASDAQ:AIRE) strategic investment in Xmore AI aligns with its focus on AI-driven innovation, but investors should consider the company's financial position and market performance when evaluating this move. According to InvestingPro data, reAlpha Tech Corp. has a market capitalization of $57.18 million USD, reflecting its status as a smaller player in the technology sector. The company's revenue for the last twelve months as of Q2 2024 stands at $0.32 million USD, with a concerning revenue growth decline of -25.52% over the same period. An InvestingPro Tip indicates that reAlpha holds more cash than debt on its balance sheet, which could provide financial flexibility for investments like the one in Xmore AI. This liquidity position is further supported by another tip noting that the company's liquid assets exceed short-term obligations. However, investors should be cautious. The company is not profitable over the last twelve months, and its price has fallen significantly over the last year. These factors suggest that while reAlpha is making strategic moves in the AI space, it faces financial challenges that could impact the success of its initiatives. For a more comprehensive analysis, InvestingPro offers 11 additional tips for reAlpha Tech Corp., providing deeper insights into the company's financial health and market position.