Companies

Embassy Group makes strategic investment in Pi Labs Fund 3

Our Bureau Bengaluru | Updated on May 13, 2021

Investment will enable real estate developer to deploy newer technologies across its pan-India properties

Real estate conglomerate Embassy Group has joined proptech investor Pi Labs, as a limited partner (LP) in its current Fund 3.

Pi Labs is Europe’s most active proptech venture capital firm, with over 55 investments in its portfolio. The strategic investment by Embassy Group will form a gateway for Pi Labs and its portfolio companies in Asia, one of the fastest-growing regions for real estate.

By participating in Pi Labs Fund 3 as an LP, Embassy Group is positioning itself to take the industry forward in technology adoption. The investment will also support Embassy Group’s commitment to the transformation of the real estate sector through innovative technology, drawing on synergies from Pi Labs proptech ecosystem, according to the company.

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Priority access to innovation

The investment will enable the group to trial, pilot, and deploy newer technologies across its pan-India portfolio of properties. Embassy Group will also receive priority access to innovative start-ups in Pi Labs’ network, including those emerging from its accelerator. As an LP, Embassy Group will be able to shape proprietary research and co-invest alongside Pi Labs for select opportunities.

Faisal Butt, CEO & Founder at Pi Labs, said “Proptech is a truly global category, its increased growth and adoption make it one of the most exciting and transformative areas for investment and innovation. We have made investments in over 10 countries across three continents, and this strategic partnership will allow us to draw on synergies with Embassy Group and its leadership in Asia to support our increasingly global strategy. By welcoming Embassy Group to our ecosystem, we are able to deploy and trial technologies across their diverse properties in Asia, taking high-growth start-ups mainstream, and continuing to elevate the category around the world.”

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Aditya Virwani, Chief Operating Officer of Embassy Group, said, “The past year has accelerated digital transformation across sectors. In the real estate category, we have a generational opportunity to transform how people live, work, and interact, using technology. Our investment in Pi Labs is forward-looking, with the intention of identifying and experimenting with innovations from visionary start-ups 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.”

Published on May 13, 2021

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