Our Growth Programme Cohort 12 Raises $7.5 Million in Funding
As featured in EG, we are delighted to announce the successful completion of our 2024 Growth Programme cohort, where participating start-ups have collectively secured $7.5 million in seed and pre-seed funding. The funding, sourced from a diverse group of angel investors and venture capitalists, will enable these start-ups to accelerate their product development, expand their teams, and enter new markets strategically.
Through a rigorous selection process that reviewed over 1,000 applications, we identified five promising companies based on a strong founding team, their potential to scale globally across different markets, the team’s ability to build proprietary deeptech that is difficult to replicate.
This year’s start-ups included:
Pathways: An AI-driven sustainability platform enabling manufacturers to measure and reduce building material emissions. The start-up 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 $1m of early stage funding and grants, and is seeking an additional $500k.
Our 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 our mission to back founders creating a digital and sustainable built world.
At the end of the programme, 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.
We’d love to work with you!
LP interested in Pi Labs’ latest fund? Contact LP@pilabs.vc
Start-up looking for funding? Apply Here
VC looking to co-invest? Contact hugo@pilabs.vc
