Property technology venture capital firm Pi Labs has added five companies to its global portfolio.

Pi Labs, which invests solely in early-stage proptech, said the addition of the five start-ups from the UK, Canada and Israel, lifts the firm’s portfolio to 60 companies across three continents.

The start-ups include Okibo, a start-up developing autonomous, mobile robots for wall finishing works in construction sites; Conwize, a cloud-based platform that helps construction companies estimate projects more accurately and win more tenders and Audette, a digital platform that discovers carbon efficiency projects in commercial buildings and matches them with grant and low-interest financing.

The rest are Hölmetrics, a data-analytics company that provides insight into employee experience, allowing organisations to predict and optimise operational performance and Honest AI, a commercial real estate technology platform that enables real estate investors to make data-driven investment decisions.

The companies have been selected on the basis of their potential to achieve at least a £100m (€116.8m) valuation at the time Pi Labs exits its investment, Pi Labs. As part of the programme, the start-ups will receive an initial investment, with the possibility of follow on funding, as well as mentoring.

Faisal Butt, CEO and founder of Pi Labs, said: “We selected these five start-ups out of 1,100 plus applications after an intensely competitive process, because they can fill the glaring sustainability, ESG, operational and efficiency gaps in the real estate industry.

“Despite the continued global uncertainty due to the pandemic, we believe that property owners, developers and occupiers are presented with increased impetus to adopt proptech solutions to future proof operations and assets.”

Pi Labs is backed by capital from real estate institutions such as Great Portland Estates, Patrizia, Assura, and Revcap.

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