London spatial data firm Pupil raises £13.9m
Pupil, a London PropTech start-up providing spatial scanning technology, has secured £13.9m in early-stage VC investment.
Backers in the round included Singapore's City Developments, one of the largest property and hotel conglomerates in Singapore.
The new funds will power development of its first product, Spec, which is designed for property marketing for agents. Launched last year after years in development the technology create a ‘digital twin’ of a property.
Spec is already being used in more than 500 estate agency branches.
The funding will also be used to launch its second product, which targets the commercial real estate sector. Founded in 2015 by James D. Marshall, Oliver Breach and David Mullett, the technology is designed to create a 3D map of interiors on an industrial scale, improving accuracy and consistency.
Founder and CEO Marshall said: “Since Pupil’s inception in 2016, the team has grown to over 100 and we plan to use this latest injection of investment to support the development of our products and services to deliver growth of the Pupil brands both in the UK and in major property hubs worldwide.
“The company’s customers are a mix of large enterprises, nationwide franchise and independent estate agents. Spec is rapidly being adopted as the new measurement standard in the fast paced London market. Pupil’s second product Stak will be unveiled later this year and will be focused on disrupting the commercial real estate market, an industry that is rapidly adopting technology, and we aim to capitalise on this opportunity around the globe.”