The 2021 figure is more than 15 times higher than the £105.68m of UK proptech investment achieved in 2016, which shows the long-term trend that the sector continues to grow and attract investment capital.
The global proptech sector has also seen a significant increase, with more than $20.57bn (£15.49bn) invested so far this year — more than double the $9.37bn (£7.06bn) invested in 2020 and almost three times higher than $7.06bn (£5.31bn) in 2016.
- Property investors face 'huge risk' of stranded assets if they fail to decarbonise
- Over 300 professionals sign up for Brickflow's introducer programme
- BuildLoan launches broker platform for custom and self-build finance
According to Pi Labs, the surge in proptech investment over the past 12 months has been driven by the creation of technology solutions to address common issues in the real estate world, such as sustainability, logistics, construction, robotics, workplace wellbeing, and bringing the metaverse to the built environment.
Faisal Butt, CEO at Pi Labs, said: “Proptech investment is growing significantly year-on-year, as the real estate sector is increasingly aware of the operational performance gaps that have been unaddressed for a number of years.
“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.”