The Realty firm Embassy Group on Thursday said it has invested in venture capital firm Pi Labs’ new fund that puts money in several proptech startups. It was founded in 2014, Pi Labs was the first venture capital firm in Europe to exclusively invest in proptech companies.
The Embassy Group has recently joined Pi Labs as a limited partner in its current fund series, the Bengaluru-based firm said in a recent statement. The report didn’t disclose any further about the funds invested.
The new funding or strategic investment will open the gateway to Asia for Pi Labs while Embassy Group will get unparalleled access to global proptech startups.
Meanwhile, the COO Aditya Virwani of Embassy Group said- “ Our investment in Pi Labs is forward-looking, to identify and experiment with innovations from visionary startups to deploy in our properties, accelerate our consultative capabilities with customers, and augment Embassy Group’s legacy strengths to prepare for the next two decades”.
Lastly, the group is a leading developer in the nation, especially in the office market. It had also launched the nation’s first real estate investment trust (REIT). WeWork India is also owned by the group.
