Driving The Built Environment To Net Zero: Our Investment in Kamma
We are delighted to have follow-on invested in Kamma alongside Triple Point and others in Kamma’s £3.6m investment round which was led by Clean Growth Fund.
Background to our investment:
At Pi Labs, we are committed to addressing the climate crisis by investing in innovators who can shape the cities of the future.
We believe that accurate data and insights are essential for governments, industries and communities to collectively achieve net-zero on a global scale.
Currently, there’s a critical need for accurate and cost-effective solutions for various climate challenges, including those determined by property regulations. Many organisations are navigating this complex landscape without access to reliable, up-to-date data, leading to compliance risks, especially in the realm of ESG (Environmental, Social, and Governance) considerations.
By using the very latest geospatial technology, Kamma combines data collection and address-matching technology with insightful analysis to articulate the fastest routes to net zero. Kamma’s data powers climate change solutions ranging from ESG risk management and reporting to retrofit optimisation solutions.
How the investment came about:
Pi Labs first invested in Kamma in 2020 alongside Triple Point Ventures. We’ve continued to work with Kamma’s leadership team, and saw the firm’s progress month by month in board meetings.
Source of intro: Follow on to our 2020 investment.
An overview of the company
- Industry — Construction
- Location — London, UK
- Founded — 2015
Problem — Property regulations are characterised by their complexity and constant evolution. They lack a centralised, up-to-date data source, making it challenging for businesses to scale while also posing ESG compliance risks.
Solution — Kamma has built the market-leading property data engine by using the most advanced set of tools to collect and analyse real estate climate data. They are building out a set of products to be a “one stop shop for retrofit, financing, and climate ratings”. They operate at the intersection of RegTech and PropTech, in an environment which has an ever-increasing legislative and regulatory focus on ESG data and compliance.
Founder market fit: Orla Shields co-founded Kamma after her experience in banking regulation post the credit crisis. Her realisation was twofold: a lack of accurate geospatial property data had significantly contributed to the crisis, and that it presented a substantial opportunity.
Size of opportunity: The UK’s property sector is the second-largest contributor to greenhouse gas emissions, making up about 25% of all emissions. However, it’s been slow to adopt measures to reduce these emissions. One major challenge is outdated and inaccurate property data, which leads to wrong decisions and assessments. Kamma’s data helps power climate change solutions, including managing ESG risks, reporting, and optimising retrofitting solutions.
What’s next?
Kamma plans to continue building out its tools to further exploit its core dataset for additional customer use cases. The investment will allow the firm to expand the number of clients which they can sell to and serve. Pi Labs is pleased to be continuing on this exciting journey with Orla and her team.
