Our Plans For The Future
It’s been an exciting year here at Pi Labs – we set up and launched Europe’s first proptech accelerator; invested in and graduated 10 proptech companies; and signed up over 110 mentors to work with our companies. On top of that, one of our companies has already raised a Seed round of £350k.
And we have big plans for 2016! Over the next couple of years we will be expanding our platform, increasing the number of investments and driving innovation in the property industry through our accelerator programme and events. In the next few months we will be sharing more information on our next fund and changes to our platform, so stay tuned!
After speaking with over 100 early stage technology companies about the challenges they face as they grow their companies, we have decided to change our investment terms. We understand that living in London is expensive and we are dedicated to ensuring early stage companies have the runway required to properly test their products and get the traction required to raise their Seed rounds. So next year, we will invest £40,000 net in return for a 7% stake in all companies that join the accelerator.
We have also created a way for companies that have already raised a Seed round of investment and have initial traction to benefit from the accelerator. Those companies will be part of the accelerator programme but instead of the initial equity investment they will receive a warrant for up to 5% equity. This means that in the next round of funding Pi Labs will have the right to participate up to 5% of the round.
Finally, we are very excited to announce that starting in 2016 we will invest in Seed through to pre-Series A rounds. As always, we will continue to focus on companies in the proptech vertical. There will also be post-accelerator funding available for the proptech companies that have gone through our programme.
The accelerator programme structure will generally remain the same. We will run two 13 week programmes each year and accept five proptech companies in to each programme. Over the 13 weeks, the teams will spend time with mentors from the property, technology and investment industries and go through our structured programme which includes weekly workshops, drop in sessions, and speaker sessions. If you are interested in joining one of the world’s leading proptech accelerators, please apply online.
We are very excited to drive real growth in the proptech industry in 2016 and beyond to support companies at various stages of their growth. If you are interested in becoming a mentor, or if you invest in proptech companies and would like to stay informed on what’s happening at Pi Labs, please contact us.