Balfour Beatty has committed £10 million to a venture capital fund dedicated to backing technologies that have the potential to transform the built environment and improve the delivery of major infrastructure projects.
The investment will be made through Pi Labs’ Fund IV, which supports early-stage technology companies developing solutions across areas including artificial intelligence, robotics, data analytics and digital construction.
According to Balfour Beatty, the investment forms part of its wider strategy to strengthen access to emerging technologies capable of improving productivity, enhancing project certainty, increasing safety and driving better performance across its global operations.
By investing in the fund, the contractor expects to work more closely with technology entrepreneurs during the early stages of product development, enabling it to identify promising innovations sooner, establish targeted partnerships and evaluate practical applications on live construction and infrastructure projects around the world.
Philip Hoare, Group Chief Executive of Balfour Beatty, said: “Productivity is one of the defining challenges – and greatest opportunities – facing our industry.
“To deliver the scale and complexity of infrastructure our customers and communities need, we have to keep finding better ways to work. Our investment in Pi Labs will give us earlier access to entrepreneurs and technologies that could improve delivery, build capability and capacity and create long-term value.
“This is a strategic investment in practical innovation, focused on the partnerships and insight our key markets need for the years ahead.”
Founded in 2015, Pi Labs has invested in more than 100 technology companies across 15 countries, supporting businesses developing digital solutions for the property, construction and infrastructure sectors.
Faisal Butt, Founder and Managing Partner of Pi Labs, said: “Balfour Beatty’s commitment reflects a shared belief that technology and AI can improve how the built environment is designed, delivered, maintained and operated.
“Our ambition is to accelerate innovation across the sector and back the entrepreneurs working on some of its biggest challenges – from productivity and performance to sustainability and resilience.
“With Balfour Beatty’s support, we can help connect promising technologies with the infrastructure projects and industry expertise needed to test, scale and apply them in the real world.”
Other investors participating in Pi Labs’ Fund IV include Dar Ventures, the venture capital arm of international design consultancy Sidara, and Dubai-based property developer Ellington Properties. The fund is expected to support the next generation of construction and property technology businesses as the industry continues to adopt digital tools, automation and AI-driven solutions.
