Global proptech venture capital firm Pi Labs has concluded its tenth growth programme for early stage proptech startups, with the participating companies set to secure $18.6 mln (€17.3 mln) in seed and pre-seed funding.
The funding will enable the startups to fuel growth into new markets, expand their teams and undertake further product development.
Pi Labs selected nine companies, after reviewing 973 companies from 47 countries, based on the potential of their technological innovations to reshape the future of the physical world and how we engage with the built environemnt.
This year’s startups haved developed a range of technological solutions from virtual reality workplace training, digital sustainability measurement tools and next generation tech to streamline construction design.
The start-ups include Conxai (Germany), described as 'the first no-code AI platform for the architecture, engineering and construction industries', plus Laiout (Norway), which automates the creation of early-stage architectural floor plans.
Firmus (Israel utilises 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, while LiveCosts (Ireland) runs 'smart construction software' to automate cost management for builders and contractors.
ESG-focused solutions include Greenpass (Austria), which 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.
Route Konnect (UK) offers real-time video processing to help organisations understand the movement of people and vehicles across large multi-camera locations whilst fully preserving anonymity, while Moonhub (UK) is a virtual reality training programme for the workplace. The remaining firms are contechs Modulize (Norway) and SymTerra (UK).
All the companies participating in the 2022 Growth Programme have secured capital for their ealy stage funding rounds.
Seven out of the nine startups have officially closed their rounds, which included involvement from global investors, VCs, institutions and angels.
At the end of the programme, which took place between February and May, the companies pitched to an audience of 400, which included investors, entrepreneurs and potential clients, as part of the VC’s Demo Day.
Notable funding rounds included Conxai's $3 mln pre-seed round co-led by Earlybird and Pi Labs, also involving Argonautic Ventures, and Moonhub’s $2.6 mln seed round, with funding from Pi Labs, Ada Ventues, 1818 Ventures and numerous angel investors.
