A startup accelerator has launched in East London in a bid to create the next generation of Airbnb-style companies.

Pi Labs, a property accelerator based out of Second Home, a coworking space set up by former government tech advisor Rohan Silva, today announced its first intake of startups and the launch of a crowdfunding campaign.

Second Home

Pi Labs, short for Property Innovation Labs and first announced last October, has been set up by estate agents Cushman & Wakefield and property focused venture capital group Spire Ventures. 

Startups accepted onto the programme range from Land Technologies, which has a platform that connects professional brokers and landlords in commercial real estate, to AirSort, which provides Airbnb users with a management platform. 

The five ‘proptech’ startups accepted onto the bi-annual three month programme will receive funding, mentoring and office space at Second Home in East London’s Tech City, which has already turned away between 60 and 70 companies who wanted to work there.  At the end of the accelerator programme startups will be asked to pitch their business ideas to angel investors, VCs and private equity groups.

Pi Labs has also created a £500,000 investment fund, which will be hosted on UK equity crowdfunding platform Seedrs. The company said the fund could be extended to £1.5 million in coming months. 

Pi Labs added that the fund will enable members of the public, alongside corporate entities, to invest in a ready-made portfolio of companies supported by the Pi Labs investment team, with additional backing from sector professionals.

Faisal Butt, founder and CEO of Pi Labs, said: “We’ve had an exhilarating few months interviewing hundreds of the most visionary property startups from around the world, all of whom are putting customers first and really changing the way the industry is viewed. London is the international hub for the property industry and we firmly believe we will find the next Airbnb from these companies.”

Cushman & Wakefield partner Juliette Morgan, also a Pi Labs strategic partner, said: “We have managed to attract some of the brightest minds in proptech from around the world – the quality of applicants for the accelerator has been incredibly high.

“Pi Labs was created to support the growing number of start-ups with potential to disrupt the property sector; it will also be immensely valuable to our clients. We look forward to co-building the next generation of companies transforming our industry.”

FIRST COHORT

AirSorted: An Airbnb management company that makes using Airbnb ‘hassle-free’. Whether that relates to cleanings, key exchanges, laundry, guest bookings, complaints, reviews and even pricing, Airsorted makes sure you earn the most you possibly can from your property. For more information, visit: airsorted.uk.

Land Technologies: Super-fast, simple to use technology to better recognise off-market development opportunities. It lets you quickly evaluate leads and spot new potential sites, assess risks, visualise planning and connect to landowners. For more information,
visit: landinsight.io.

OfficeR&D: An office space prototyping, planning and management platform that lets you organise your office rooms and desks. It is a simple and easy-to-use, cloud-based software that allows you to create office space plans without being a designer or architect. For more information, visit: officernd.com.

Rialto: An online platform that connects professional brokers and landlords in commercial real estate to collaborate in real-time. The company provides landlords with portfolio insights and hands-on collaboration with brokers. It also provides brokers the leads and information they need to operate their commercial business. For more information, visit: rial.to.

Wilde Rooms: Offers an evolutionary bespoke service between the online retailer and discerning consumers. Wilde Rooms provides an oasis of calm amidst the bustle of London, comprising luxury changing facilities, stylists, tailors whilst offering refreshments and style inspiration. Members are able to browse online retail stores, add items to baskets and get them delivered to one fitting room to try before you buy. For more information, visit: wilderooms.com.

A further five startups will join the accelerator programme later this year.