Global proptech venture capital firm Pi Labs has unveiled the latest cohort of startups for its 2022 Growth Programme.
With a unified vision to transform the future of the real estate industry through technology, the 10 companies – which include four female founders – were selected from more than 1,000 applications across 47 countries.
More than £45 billion of venture capital, private equity, M&A and IPO funding flowed into the property technology – or ‘proptech’ – sector last year, as coders compete to implement cutting-edge tech into the built world around us, revolutionising an industry which has been historically slow to adapt.
From virtual reality workplace training, to mindfulness content designed to enhance your working life, digital sustainability measurement tools and next generation tech to streamline construction design and collaboration, this year’s startups have developed a range of technological solutions to societal issues in the physical world.
In contrast to Pi Labs’ previous nine accelerator programmes, 2022’s 16-week online and in-person hybrid initiative has evolved into a Growth Programme which will cater to more advanced teams in terms of business stage. Startups this year are split evenly between pre-seed and seed funding stages.
With five more companies than last year, this year’s cohort is not only the largest to date but also the most international, featuring startups from Norway, Germany, Israel, Austria and the UK, reflecting accelerated tech adoption in global real estate.
In addition to receiving an initial investment from Pi Labs with the possibility of follow-on funding, the Growth Programme startups will benefit from access to an unrivalled ecosystem of global tech and real estate professionals, advisors, venture partners, mentors, investors and alumni.
Below are the startups from the Pi Labs 2022 Growth Programme:
- CONXAI (Germany): The first no-code AI platform for the architecture, engineering and construction industries.
- Firmus (Israel): Utilises advanced AI technologies to analyse building drawings’ data, uncover and manage the mitigation of hidden design issues that have a potential impact on bidding and building processes.
- Flown (UK): Rooted in neuroscience, Flown is a groundbreaking digital platform which provides on-demand mindfulness content to enhance working life and support ‘deep work’.
- GREENPASS (Austria): Enables planners, developers and investors to compare the climate resilience of different project designs to optimise the sustainability and profitability of real estate developments and open spaces.
- Laiout (Norway): Automates the creation of early-stage architectural floor plans.
- LiveCosts (Ireland): Smart construction software to automate cost management for builders and contractors.
- Modulize (Norway): A single collaborative software solution for offsite construction, optimising design, planning and procurement.
- Moonhub (UK): A virtual reality training platform for the workplace, designed to scale, provide high level data and employee analytics.
- Route Konnect (UK): Real-time video processing to help organisations understand the movement of people and vehicles across large multi-camera locations whilst fully preserving anonymity.
- SymTerra (UK): Built to eliminate uncertainty from construction sites, SymTerra is an integrated communication tool that enables teams to rapidly share knowledge and capture change in real-time.
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Serial tech entrepreneur and Flown founder Alicia Navarro will also join the Pi Labs class of 2022 (Credit: Talie Eigeland).
Faisal Butt, CEO and Founder of Pi Labs, said: “We’re truly excited to bring on board our largest and most international cohort to date, including four female founders, demonstrating the explosive demand for technological solutions in global real estate, a sector which has been slow in digital adoption. From a highly competitive programme with a less than 1% acceptance rate, we’ve selected the 10 startups we believe can best capitalise on the growing proptech opportunity and address the sector’s most pressing needs.
“There is increasing demand from real estate occupiers, developers and property owners to invest in proptech solutions to help them future proof their assets and operations. Our entrepreneurs will have access to the largest proptech ecosystem in Europe, enabling them to navigate and reshape a sector that is ripe for digital transformation. We view our Growth Programme as an incubator for success for our startups, and 70% of last year’s cohort have already raised capital to grow. We look forward to supporting this year’s intake of proptech visionaries on their journey in 2022, and beyond.”
On launching in 2014, Pi Labs was Europe’s first specialist proptech-focused VC firm. Today, it is the most active venture capital investor in the sector, having invested in more than 60 startups to date.
Notable Pi Labs alumni include London-based Generation Home, a mortgage lender built for first-time buyers, by first-time buyers, and LandTech, a London-based platform that uses data analytics to help real estate developers source and due diligence development opportunities.
The Pi Labs Growth Programme Demo Day – an in-person event where startups from the 2022 cohort will pitch for investment – will take place in May 2022, with more details to follow in due course.