Specialist proptech fund Pi Labs has launched its seventh cohort, which will provide another six startups with funding and support to develop their products over a 15-week programme.
This year’s group of startups represents a range of trends and sectors, a large proportion of which are focused on developing products that will challenge traditional forms of home ownership and finance models.
The programme starts today and will run until May, when each startup will have an opportunity to present their products to an audience of investors, journalists and the wider community during a live demo day, to secure further funding.
Dominic Wilson, managing partner of Pi Labs, said that “this year has seen a huge increase in global interest” and with hundreds of applications to join the cohort this year, “it was an incredibly difficult task to narrow down the applications to just six.”
The amount of funding cannot be disclosed, however each cohort member receives strategic mentorship, free office space, and the opportunity to network with the wider proptech community, PiLabs’ alumni, and investors during the four months.
AI, 3D digital twins, group mortgages
CRIBZ uses Artificial Intelligence to help real estate developers automate and optimise their sales process. The platform sends the right message, to the right buyer, at the right time by using AI and conversational design to guide buyers through each step of the real estate process.
Decology is a personalised home design platform centred around a 3D digital twin of a client’s home. The platform provides consumers with the tools and expertise to design their homes and enables retailers to market and showcase their products.
GroupLadder is trying to empower friends to buy homes together. GroupLadder provides the mortgages needed, and also takes care of the complexity of transacting and owning as a group. Groups typically consist of friends who have been in a job for a year, have income coverage to pay the mortgage, but individually don’t have the capital for a deposit.
Pop & Rest offers people in large cities private spaces to allow them to disconnect from busy places such as airports, train stations, and workplaces. Pop & Rest offers rooms which people can book for half an hour to two hours.
RenterBuyer offers a rent-to-buy solution which allows buyers to purchase an affordable fraction of their home upfront; pay rent on the portion not yet owned, whilst purchasing more equity monthly (part-buy, part-rent) until they own outright. All the benefits of the Government Help to Buy scheme, without any of the limitations.
Track is a mobile dashboard for homeowners that tracks property finances all in one place. The personalised dashboard will provide instant valuation and projections for the property, real-time value of the owners’ financial stake, value of the mortgage balance, and ownership breakdown.
Notable alumni from Pi Labs’ previous accelerator programs include; Airbnb management company, AirSorted, which has raised $9m in funding and handles key exchanges, laundry, guest bookings, reviews, and even pricing for those putting their homes on the site; and planning subscription service, LandInsight, which helps find off-market development opportunities.