Latest news with #DarVentures
Zawya
22-05-2025
- Business
- Zawya
Dar Ventures invests in Pi Labs' latest built environment technology-focused fund
Dar Ventures – the UAE-based venture capital (VC) arm of Dar, a world‑class design and engineering consultancy and the founder of the award-winning top 10 international design collaborative Sidara – has invested in Pi Labs' latest built environment technology fund, enhancing its exposure to start-ups at the cutting edge of innovation in real estate, construction, infrastructure, and related services. Pi Labs' fourth institutional fund, which is targeting a £100 million close, will invest in up to 50 pre-seed to Series A companies with the potential to scale globally at pace. The fund is focusing on the new wave of AI-native start-ups developing the most compelling technology solutions to challenges across the global built environment, such as making construction more sustainable and efficient, building healthier or more liveable cities, optimising architecture, engineering, construction and property management and reducing carbon footprints of commercial assets. Pi Labs has identified several long-term secular trends shaping the future of the built world, including how next generation AI and robotics will transform logistics, data centres, residential development, city planning and construction material supply chains. The VC acts as a gateway between real estate owners, operators, construction firms, and service providers and the technology start-ups transforming the sector. Dar Ventures joins Pi Labs' global LP network which comprises blue-chip real estate investors and developers. The network includes Dutch pension fund APG; Abu-Dhabi based Aldar; UK and European institutions such as Patrizia, Assura, Revcap, Helical, and Sellar; and investors and developers from further afield such as the Indian developer Embassy Group, Hong Kong developer Swire Properties, and Canada's Hopewell Group. Since launching in 2015, Pi Labs has amassed a $2 billion portfolio comprising almost 100 companies, making it the world's most active early-stage property technology-focussed VC. It has fully exited its first fund, which delivered a 10x gross return to investors and outperformed the top decile of VC funds between 2015-2023. The VC has delivered 17 company exits to date, having identified and backed firms such as LandTech and OfficeRnD at an early stage in their global growth journeys. Faysal Shair, Director and Co-Founder of Dar Ventures Said: "As leaders within the global AEC industry, Dar and Sidara have always been committed to driving innovation that empowers communities through more sustainable, more resilient, and more welcoming built environments. As such, Dar Ventures' purpose is to support innovators who are confronting the world's most critical challenges, and in doing so, shaping a more sustainable, resilient and digitally enabled built environment for everyone. By investing in Pi Labs' latest fund, we can leverage our extensive AEC expertise and exposure to foster, guide, and empower the next wave of AI breakthroughs in the built world, in particular, the application of LLMs to each aspect of the real estate value chain. Through this strategic partnership with Pi Labs, we hope to continue tackling the sector's biggest challenges, including decarbonisation and resource efficiency, in order to accelerate technologies that redefine how the built environment is designed, delivered and operated." Faisal Butt, Managing Partner and Founder of Pi Labs, said: 'Real estate is the world's largest asset class and faces several challenges such as labour shortages, sustainability targets, resource scarcity and costly inefficient manual processes. The good news is that this new AI wave has created multiple AI-native startups for pretty much every industry pain point. The challenge will be identifying winners and backing them at an early stage to expand into global markets. With the support of this initial closing from Dar Ventures and Sidara, and our other LPs, we are confident that the next property technology unicorns will be found.' For further information, please contact: FTI Consulting pilabs@ About Pi Labs Pi Labs is an early-stage venture capital firm based in London backing founders who are building the sustainable cities of the future. The firm has made over 90 investments since 2015, across 15 countries, from over three funds, and has delivered 17 exits. Pi Labs' portfolio of globally scalable startups are transforming the built world by building a digital, sustainable future, fit for generations to come. For more information, visit: Neel Bose Director Strategic Communications FTI Consulting +44 (0)7594 889303 200 Aldersgate | Aldersgate Street London | EC1A 4HD | United Kingdom
Zawya
24-04-2025
- Business
- Zawya
TruBuild raises $1mln seed round to de-risk construction projects and prevent cost overruns
Waʼed Ventures and Dar Ventures participated in the round. The funding will accelerate TruBuildʼs expansion across Saudi Arabia and into global markets. Riyadh, Saudi Arabia: TruBuild, the AI-powered construction technology startup focused on preventing delays and unexpected costs in project delivery, has successfully closed a $1 million seed round. The round included participation from Waʼed Ventures, the $500 million venture capital arm of Saudi Aramco, Dar Ventures, the venture arm of Dar, as well as Plug & Play Ventures, OQAL, Taz Investment, and strategic angel investors including Simon Moon, former CEO of Atkins Middle East. TruBuild received an early investment from Antler MENAP as part of the cohort in Riyadh 2023. 'We fully believe in TruBuildʼs mission to eliminate costly project changes and variations, in line with our mission to invest in impactful businesses in the construction sector.ˮ Anas Algahtani said, Wa'ed Ventures. 'TruBuild is combining the best of British construction expertise with cutting edge Saudi AI R&D to support therealisation of the Saudi Vision 2030 and beyondˮ Matt Jones said, Saudi British Joint Business Council. Addressing One of Constructionʼs Most Expensive Challenges Every year, project changes and cost overruns lead to more than $1.6 trillion in unplanned expenses worldwide, equivalent to 15% of total project costs. TruBuildʼs AI platform works quietly in the background, analysing project data to spot risks early and provide real-time insights. It integrates directly with tools teams already use, helping project owners, consultants and contractors stay aligned, make decisions faster, and reduce back-and-forth. 'Weʼre not here to disrupt for the sake of it,ˮ said Bisrat Degefa, CEO of TruBuild. 'Weʼre here to make everyday decisions easier through objective data, and to help project teams avoid the kinds of issues theyʼve faced for years.ˮ 'With the backing of thoughtful investors and strategic partners, weʼre focused on solving real pain points for teams in the field and weʼre proud to contribute to a more predictable and transparent construction process, creating the next paradigm shift in construction technology.ˮ TruBuild is working with major organisations in Saudi Arabia, including Osool Real Estate approach is an integral part of digital strategy, allowing Osool to procure and develop projects more efficiently. Next Steps for TruBuild The seed funding will be used to enhance TruBuildʼs AI platform, grow its engineering and commercial teams, and scale its impact across Saudi Arabia and abroad. About TruBuild TruBuildʼs mission and founding team have the potential to disrupt the construction industry and redefine the status quo TruBuild is a construction technology company using artificial intelligence to reduce inefficiencies, improve collaboration, and prevent project variations. The platform helps teams: ✔ Speed up tender evaluations, contract awards, and change management by up to 80% ✔ Minimise unexpected changes and scope creep ✔ Deliver projects with greater accuracy, fewer delays, and improved cost control TruBuild is founded by professionals with decades of hands-on experience in construction and technology: Bisrat Degefa , CEO Former Global Director of Atkins and Gleeds, with more than 15 years of experience leading delivery on complex, multi-billion-dollar projects totaling over $34 billion. brings over 15 years of experience in the construction industry, having held leadership roles across major regions, including the UK, US, LATAM, and MENA. He has been integral to the delivery of multi-billion dollar projects worldwide. As CEO and Co-Founder of TruBuild, Bisrat leverages his deep industry experience to accelerate project delivery by empowering teams with AI-driven automation for project planning and execution. Prior to TruBuild, Bisrat served as Global Director at AtkinsRealis, a global engineering consultancy, and as Director Head of Construction Digital Solutions at Gleeds, where he honed his expertise in digital transformation within the construction sector. Dr. Sari Sabban, CTO A two-time Fulbright Scholar, AI developer, and patent holder with almost two decades of experience in ML development and R&D. Dr. Sari Sabban is the Co-founder & CTO of TruBuild, bringing 15 years of research experience to the role. He received two Fulbright scholarships to Duke University for AI research. As a former assistant professor, he specialized in machine learning, computational structural biology, and biomolecular simulations. His achievements include a patent for a computationally designed anti-allergy vaccine, delivering a TEDx talk on AI in biology. At TruBuild, he oversees the company's technological and scientific advancements, applying his expertise in AI and computational methodologies to transform the construction industry For media enquiries, partnerships, or investment opportunities : hello@
