UK-based proptech VC – Pi Labs recently invested £3.5 million ($5 million) alongside Zero Gravity Capital (lead investor), Future Energy Ventures by EON, Nielsen and Blue Minds in Israeli-founded location intelligence provider – Placense. The tech company provides location technology support to post-COVID recovery of physical stores in the UK and Europe.
To support physical retail recovery post-COVID
The physical retail stores faced a major downturn during COVID-times and Placense helps by providing location-based data to assess the market demand. Placense’s technology helps retailers in saving two-thirds of data collection cost in surveys, cameras and sensors.
The future prospect of a retail business seen through the collection of the data with accuracy and reliable source. The appointment of Fachverband Aussenwerbung e.V. as location intelligence data experts from Germany helping the retail businesses with location-based data to grow the retail businesses out of the home.
Dan Gildoni, CEO & Co-Founder of Placense, said: “Our product is putting the power back into the hands of the real estate industry, to support better, more informed, faster decision making. The retail industry, which has faced unprecedented upheaval, is harnessing the data and insight we can provide to help its re-imaging and recovery. The privacy and compliance at the heart of our business, we have the ability to analyse any location to securely offer valuable data to occupiers, asset managers, developers, brokers that they were previously unable to obtain. We look forward to working with Pi Labs, leveraging their ecosystem, as we scale our business and expand across Europe at this critical time for the real estate industry.”
Pi Labs’ first investment in Israeli startup
Placense uses machine Learning and anonymisation technology to gather location-based data with consideration of data protection. Data collection and management managed by Placense and their associated partners, who are experts in GDPR compliance.
Hugo Silva, Investment Manager of Pi Labs, added: “This is our first investment into an Israeli business and supports our journey to identify tech companies from across Europe with a geographically scalable proposition, to enhance real estate as a global asset class. Identifying a real pain point in the industry. Placense has developed a data-led solution impacting both retail recovery and wider portfolio investment strategies. The right data can hugely valuable for businesses especially as they look to navigate out of the ongoing pandemic. Our research into the future of retail was a catalyst for our investment into Placense as we see data playing an important role in a leading high street recovery.”
Placense’s location-based data points help physical e-commerce retailers to draft their business strategy around post-COVID customer demand with data privacy.