Pi Labs, a proptech venture capital firm headquartered in London, has concluded its tenth growth programme for early stage proptech startups. As a part of the program, the participating companies will get $18.6 million in seed and pre-seed funding.
Pi Labs 2022 growth programme
This funding will enable the startups to fuel growth into new markets, expand their teams and undertake further product development.
The 2022 cohort was Pi Labs’ most international group to date, featuring startups from Norway, Germany, Israel, Austria, Ireland and the UK, as well as three female co-founded companies.
Pi Labs has chosen nine companies, after reviewing 973 companies from 47 countries. The selection was made on the potential of their technological innovations to reshape the future of the physical world. These startups have developed a range of technological solutions from virtual reality workplace training, digital sustainability measurement tools and next-generation tech to streamline construction design.
The companies that participated in the 2022 Growth Programme have secured capital for their early stage funding rounds. Seven of them have officially closed their rounds, which included involvement from global investors, VCs, institutions and angels.
Faisal Butt, CEO and Founder of Pi Labs, said: “These nine companies showcase just how far and wide we have cast our scouting net around the world, and delivered on the challenges we set for ourselves in this year’s Growth Programme, to increase the average stage of company that we bring on board, and importantly to continue to champion diversity within the sector.”
Startups from Pi Labs 2022 Growth Programme
The following companies were chosen for the Pi Labs 2022 growth programme.
CONXAI: The German company is the first no-code AI platform for the architecture, engineering and construction industries. Notably, Conxai’s $3 million pre-seed funding round was co-led by Pi Labs and Earlybird via its UNI-X fund.
Firmus: Israeli startup Firmus uses 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.
GREENPASS: GREENPASS, an Austrian startups, 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: The Norwegian startup Laiout automates the creation of early-stage architectural floor plans.
LiveCosts: The Irish startup LiveCosts has come up with a smart construction software to automate cost management for builders and contractors.
Modulize: Yet another Norwegian startup Modulize is a single collaborative software solution for offsite construction, optimising design, planning and procurement.
Moonhub: Moonhub, a UK-based virtual reality training platform for the workplace, designed to scale, provide high level data and employee analytics. Pi Labs led VR training startup Moonhub’s $2.6 million seed round along with Ada Ventures, 1818 Venture Capital and a host of angel investors.
Route Konnect: This is another UK company that uses real-time video processing to help organisations understand the movement of people and vehicles across large multi-camera locations whilst fully preserving anonymity.
SymTerra: Lastly, we have SymTerra, another UK company that is built to eliminate uncertainty from construction sites. It is an integrated communication tool that enables teams to rapidly share knowledge and capture change in real-time.
