Earlier this month, property-innovation accelerator Pi Labs announced it formed a partnership with Bosa Venture to grant PropTech startups in the UK access to £100,000 in funding.
The accelerator revealed:
“Bosa Properties is one of largest luxury real estate development companies in North America with a presence in both Canada and the US. Bosa owns, is actively developing, or has transacted in excess of $5B CDN of property assets. Pi Labs will have a strategic partnership with their VC arm, Bosa Ventures, which will provide additional funding via a SAFE or convertible note for Pi Labs companies to extend their runway or close out an existing funding round as they exit the programme. Perhaps more importantly, the cohorts will now have a gateway to North America to both test their products as well as have a partner for North American expansion.
“This means cohort companies have access to £100,000 of funding through the accelerator programme before they potentially raise their seed round. All cohort companies will be eligible, though it will be at Pi Labs’ discretion and recommendation to determine which companies should receive the funds. Following on from success stories such as Switchee, Airsorted and Propoly in previous programmes, the teams in Programme 4, which starts in October, will be the first cohort to benefit from Bosa’s involvement.”
Sharing details about the partnership, Bosa Properties chairman, Colin Bosa, stated:
“Our alignment with Pi Labs will allow us both to be on the forefront of new frontiers of PropTech, while leveraging the multiple streams of innovation we already have underway in the field of property development and construction.”
Dominic Wilson, managing partner of Pi Labs, commented:
“We are delighted to partner with Bosa Ventures; it’s an incredible opportunity for the start-ups financially and also in terms of global reach. We now also have a close link to North America and a partner to help our companies roll out into those markets. In financial terms, our program is now one of most competitive in the world and we will continue to source the very best talent and companies from across the globe as a result. And crucially for Pi Labs, it’s also a ringing endorsement for the program we have built here in London and quality of companies we have coming through. That said, we still believe we have areas to improve upon and we believe Bosa Ventures has a crucial role to play in that process.”
Since its launch in 2014, Pi Labs has supported 16 property technology startups, which ranged from planning to social housing and management. It currently offers a three-month, bi-annual program that provides funding, mentoring, and inspiring office space. Last year, the accelerator secured £712,900 through equity crowdfunding platform Seedrs.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!