New data from Pi Labs finds that the proptech industry raised £1.6 billion this year, which is a 360% increase from 2020.
Due to demand for more sustainability, wellbeing, robotics, and more, proptech startups saw great success over the past year.
This surge in investment was seen all over the world, with the data showing that $20.6 billion was invested into proptech this year. However, the UK in particular saw investment into real estate tech startups grow 15-fold.
“As the UK real estate sector wakes up to the changes required to reach net zero targets, landlords, investors and occupiers are realising that technological adoption will play a crucial role in future-proofing assets and meeting sustainability pledges,” said Faisal Butt, CEO of Pi Labs.
One example of this growth came from SaaS platform Plentific raising $100 million in funding from Brookfield.
Additionally, Pi Labs showed that mergers and acquisitions played a huge role in proptech activity. For instance, VTS acquired tenant experience platform Lane Technologies for $200 million.
In fact, Pi Labs identified 152 acquisitions that occurred in 2021 within the sector, which is the most on record.
