PropTech startups in the UK will now have access to £100,000 in funding from the VC arm of a Canadian real estate company.
The announcement comes as a result of Pi Labs, a PropTech-focused VC, entering into a strategic funding partnership with Bosa Ventures.
Launched in October 2014, Pi Labs has since supported 16 PropTech startups through its three month bi-annual programme which seeks to provide funding, mentoring and office space to participating startups.
Colin Bosa, chairman of Bosa Properties, commented: “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.”
As a result of the partnership, PiLabs’ cohort companies will have access to £100,000 of funding through the accelerator programme prior to potentially launching their seed round.
Dominic Wilson, managing partner of Pi Labs, said: “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 programme 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 programme 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,” concluded Wilson.