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Pi Labs

Pi Labs invests in companies operating in the real estate technology sector.
Pi Labs
Leadership team

Faisal Butt  (Managing Partner and Founder)

Sarah O'Donoghue (Head of Brand and Marketing)

Michelle Wilk (Investment Manager)

Hugo Silva (Principal)

Levi Levenfiche (Head of Business Development)

Number of Employees
0 - 50
Headquarters
London, United Kingdom
Established
2015
Social Media
Summary

Pi Labs is a forward-thinking venture capital firm specializing in prop-tech (real estate technology) investments. With a clear mission to transform the built world, Pi Labs has positioned itself as a key player in supporting and nurturing startups that are pioneering innovative solutions for the real estate and built environment sectors. Since its inception in 2015, Pi Labs has made a substantial impact by investing in over 80 companies worldwide. 

These startups cover a wide spectrum of areas, from sustainability and air quality to construction analytics and digital insurance, reflecting Pi Labs' commitment to broad and diverse innovation. Beyond providing funding, Pi Labs serves as a long-term partner, offering strategic guidance, mentorship, and access to an extensive network of founders, mentors, LPs, and co-investors, ensuring that the startups they support have the resources and expertise needed to thrive and create meaningful change.

What sets Pi Labs apart is its dedication to addressing critical global challenges. Pi Labs recognizes the urgency of innovation in making the world a better place for communities, businesses, and the environment. Their investment criteria prioritize startups that have the potential to scale globally and solve large-scale problems within the real estate and built environment sectors. Pi Labs' portfolio of companies is a testament to their commitment to sustainability, wellbeing, efficiency, and accessibility within the built world.


History

Pi Labs, a London-based venture capital firm, was founded in 2015 by Faisal Butt. It focuses on investing in startups and innovators within the real estate technology (prop-tech) sector. The firm recognized the potential for technology to disrupt the real estate industry and actively sought out promising startups globally.

Pi Labs expanded its reach internationally and built a diverse portfolio of prop-tech companies. These startups covered a wide range of innovative solutions, including property management software, virtual reality applications, and construction technology.

The firm participated in funding rounds for its portfolio companies, providing not only financial support but also strategic guidance and mentorship. Pi Labs positioned itself as a long-term partner for the startups it backed.

Pi Labs emphasized its commitment to addressing societal, economic, and environmental challenges through prop-tech innovation. It sought founders and startups with a vision for reshaping how people interacted with the built world while creating a positive impact.

In 2022, Pi Labs underwent a rebranding effort, unveiling a fresh visual identity and a new website to reflect its evolving nature and dedication to supporting visionary founders in the built world.

The firm actively built an ecosystem of founders, mentors, LPs, and co-investors, fostering a network that supported the growth and success of prop-tech startups.

Pi Labs expanded its investment scope to cover a wide range of areas within the built environment, indicating a willingness to explore various prop-tech subsectors.


Investment criteria

Pi Labs, as a venture capital firm specializing in real estate technology (prop-tech), has specific investment criteria that guide its selection of startups and companies to support. Here are the key elements of Pi Labs' investment criteria:

  • Stage of Development: Pi Labs primarily targets companies in the pre-seed and seed stages of development. These are typically early-stage startups that are in the initial phases of building and scaling their businesses.
  • Type of Companies: Pi Labs seeks high-growth technology companies that have a significant impact on shaping the physical world. These companies should demonstrate impressive metrics or possess clear opportunities for growth in the market.
  • Scalability: Companies considered for investment should have the potential to scale their operations globally. Pi Labs is interested in startups that can address large-scale challenges within the real estate and built environment sectors.
  • Market Focus: While Europe is a core market for Pi Labs, the firm is actively expanding its investment reach beyond Europe into regions such as North America, Asia, and Israel. They are particularly interested in companies that can scale their activities globally.
  • Equity Stake: Pi Labs typically offers an equity stake of GBP 250,000 as part of its investment. The exact equity percentage may vary but generally falls within the range of 5% to 10%.
  • Broad Investment Theme: Pi Labs takes a comprehensive and broad approach to innovation. They are interested in partnering with companies that are transforming various aspects of how people live, own, work, build, move, and experience the built environment. This wide-ranging approach allows for flexibility in considering startups that may not fit into traditional prop-tech definitions but still have the potential to drive meaningful change.
  • Market Exploration: Pi Labs supports companies in exploring and expanding into the European market. Their expertise and network can be particularly beneficial for startups looking to enter or expand within the European real estate and prop-tech landscape.

It's important to note that Pi Labs not only provides funding but also offers strategic guidance, mentorship, and access to their extensive network of founders, mentors, LPs, and co-investors.


Values

Pi Labs is guided by a set of values that align with their mission and reflect their commitment to positive change in the built world. These values include:

  • Climate Crisis: Pi Labs recognizes the urgent need to address the human impact on the environment, particularly in the context of inefficient and carbon-intensive built environments. They emphasize the importance of innovation to reduce waste and embodied carbon in construction and improve operational carbon impact and energy efficiency.
  • Affordability & Accessibility: Pi Labs acknowledges the socio-economic challenges posed by rising costs of living, inflation, fluctuating energy prices, and housing shortages. They believe that innovation can level the playing field by democratizing financial processes and promoting a more efficient housing supply for everyone.
  • Health and Wellbeing: Pi Labs highlights the global wellbeing revolution and the importance of creating healthier cities and spaces for communities. They recognize the role of the built environment in improving the health and wellbeing of individuals and society.
  • Resilient Business: In the face of economic turbulence and uncertainty, Pi Labs understands that businesses are navigating significant challenges. They advocate for the role of technology in helping businesses adapt to evolving working practices, talent shortages, regulatory environments, and threats to business continuity.
  • Thriving & Sustainable Cities: Pi Labs believes that urban areas require transformation to become vibrant, safe, accessible, liveable, and sustainable. They acknowledge the impact of factors like COVID-19, online competition, changing work dynamics, and ageing infrastructure on communities and businesses.
  • Purpose-Led Investment: Pi Labs is committed to diversity, equality, and inclusion (DEI) across all aspects of their business. They actively work towards creating a welcoming culture where everyone, regardless of background, ethnicity, or gender, is valued.

Pi Labs' values and mission reflect their dedication to investing in startups and innovators who can address pressing challenges in the built world, ultimately contributing to the betterment of communities, businesses, and the environment.


Mission

"We are in pursuit of change. We believe in the potential – and understand the urgency – of innovation in making the world better for communities, businesses, and the environment to thrive. Transforming the world we build is a challenge of generational importance for all of us. 

At Pi Labs, we are on a mission to back the founders whose boundless ambition matches our own, so that together we can get the built world back on track and fit for the future. The issues we care about as a team are having an impact on almost every aspect of life on this planet."


Portfolio

Pi Labs has invested in a diverse array of over 80 companies, all of which are focused on transforming different aspects of the built environment. These startups are at the forefront of innovation within the prop-tech (real estate technology) sector and have the potential to significantly impact how we interact with and improve our built surroundings.

A few noteworthy companies in Pi Labs' portfolio include:

  • 720°: A Finnish company specializing in indoor climate monitoring and AI-powered predictive air quality maintenance.
  • adeptmind: A Canadian startup offering an AI-guided discovery tool to personalize and enhance the online shopping experience.
  • airly: A Polish company providing a real-time data platform that empowers communities to improve air quality.
  • Airmo: A German startup focusing on greenhouse gas monitoring from space for better climate risk management.
  • AMBR: A UK-based company dedicated to helping managers prevent stress and burnout in their teams and workplaces.
  • aprao: A UK-based company offering cloud-based financial modelling tools for greater clarity in real estate development.
  • bright spaces: A Romanian startup that offers a 3D showcasing and space-planning platform to revolutionize leasing and presentation of spaces.
  • BROLLY: A UK-based digital personal insurer catering to renters and property owners.
  • built-id: A UK-based startup providing a community engagement tool to involve communities in shaping real estate decisions.
  • contilio: A UK-based company specializing in AI-powered construction analytics for improved project reporting.
  • CONWIZE: An Israel-based startup offering project estimation and automated bidding solutions for construction companies.
  • conxai: A German startup focusing on no-code AI solutions for safer, more efficient, and sustainable construction practices.
  • CURE: A German startup providing an on-demand healthcare app for accessible healthcare services.
  • demand logic: A UK-based company offering intelligent data solutions for healthier, more efficient, and sustainable buildings.
  • FENESTRAPRO: A company specializing in software for designing energy-efficient building facades.

These companies collectively represent the innovation and diversity present within Pi Labs' portfolio. They are actively working to improve various aspects of the built environment, from indoor air quality to real estate development, and are integral to Pi Labs' mission of transforming the built world for the better.


References
Pi Labs
Leadership team

Faisal Butt  (Managing Partner and Founder)

Sarah O'Donoghue (Head of Brand and Marketing)

Michelle Wilk (Investment Manager)

Hugo Silva (Principal)

Levi Levenfiche (Head of Business Development)

Number of Employees
0 - 50
Headquarters
London, United Kingdom
Established
2015
Social Media