This funding comes from a diverse group of strategic angel investors and venture capitalists, supplementing the initial investment provided by Pi Labs upon the startups' selection for the programme.

This financial boost will allow the five early-stage startups to advance product development, attract top talent, and expand their solutions into global markets. Pi Labs meticulously reviewed over 1,000 applications, ultimately selecting companies based on the strength of their founding teams, potential for global scalability, ability to develop unique deeptech solutions, ability to leverage secular growth trends, and the likelihood of achieving a minimum valuation of $100 million upon exit.

This year’s startups included:

• Pathways: An AI-driven sustainability platform enabling manufacturers to measure and reduce building material emissions. The startup raised $2.5 million in a pre-seed funding round co-led by Pi Labs and Zacua Ventures. Other investors included Great Wave Ventures, REFASHIOND Ventures, Positive Ventures, Blue Lion Global, and Anglet.
• Genia: Founded by a seasoned ex-Arup engineer and ex-Amazon AI developers, Genia automatically creates optimal construction engineering drawings with AI-powered generative design. The company raised $1 million.
• Cyb3r Operations: A cyber security platform created by a team of information security and high-growth company specialists which combats external cyber security threats facing businesses, including major global construction firms. The company is currently in the process of closing a $1.5 million funding round.
• Kestrix: Kestrix uses drone technology and AI to pinpoint heat loss in residential buildings, informing retrofit plans, pricing, and priorities. Dubbed the “Google Maps of heat”, it automates energy surveys at scale through mass thermal image capture not just for single homes, but for cities at a time. This enables housing providers, local governments and installers to spend less time planning retrofits, and more time delivering them. Kestrix secured $1.5 million in funding.
• Sorair: Aiming to embed autonomous surveillance systems into the logistics and industrial sector, the Sorair team has created an end-to-end physical security solution which combines hardware (such as drones, CCTV cameras, alarms) and software (using computer vision and AI) to reduce human dependency. The team attracted $1 million of early stage funding and grants, and is seeking an additional $500,000.

Pi Labs’ Growth Programme is aimed at identifying the best early-stage European ventures developing globally scalable technologies to solve the built environment’s biggest challenges. The thematic investor’s selection of these five companies is underpinned by its mission to back founders creating a digital and sustainable built world.

At the end of the programme, which took place between February and May, each of the companies pitched to an audience of investors and potential clients. Pi Labs will continue to act as an active partner to support the growth journey of each company through strategic support, mentoring the founders and facilitating introductions to business leads and co-investors.

Faisal Butt, Managing Partner and Founder of Pi Labs, said: “All five companies have pioneered what can become leading global technological solutions to business critical issues facing the built environment. Our Growth Programme is focused on scouting tomorrow’s technology leaders as early as possible and giving them the resources to positively transform the market at scale. Since they sit within our portfolio, all the startups will continue to benefit from access to an unrivalled global ecosystem of technology and real estate professionals, advisers, venture partners, mentors, and investors to support the scaling of their businesses.”

Since launching, Pi Labs has taken 56 early-stage startups through its Growth Programme. These portfolio companies have raised $211 million, including capital from Pi Labs, and now operate across 60 countries.

Notable Pi Labs alumni who have successfully graduated from its Growth Programme include OfficeRnD, which is used by flexible office operators to manage over 2,000 coworking spaces serving more than 300,000 employees across 70 countries. Pi Labs exited its position in the company last year, delivering a 60x return to investors, following its sale to US-based Blue Star Innovation Partners.

Others include LandTech, which has grown from a two-person startup to a team of 150 people and helped developers deliver over 50,000 homes across the UK. Pi Labs also completed an exit from the business, delivering a 75x return to its fund’s LPs.