DEALS | Workplace training goes virtual
Backed by Pi Labs, startup Moonhub has raised $2.6m in seed funding for its VR training tools.
Aiming to create immersive experiences to help shore up employee retention and cut training costs, the startup’s platform simulates lifelike scenarios with 360-degree learning environments.
Moonhub, which counts Just Eat and the Royal Opera House among its clients, pointed to research from Accenture suggesting that VR training has the potential to result in 75% higher knowledge retention over traditional learning methods.
Meanwhile, using VR can save companies up to 64% in learning and development spend, the startup said.
Hybrid working is another driver for growth in the sector: as employees become increasingly dispersed physically, VR offers a way of onboarding and upskilling them remotely.
Moonhub’s seed round was led by Pi Labs with participation from Ada Ventures, 1818 Venture Capital and several angel investors.
Faisal Butt, CEO and founder of Pi Labs, said: “From our perspective as proptech investors, the evolution of workplace strategies will require businesses to identify skills gaps and develop targeted training strategies for geographically dispersed workforces.
“The fact that MOONHUB can be deployed across multiple sectors, to accelerate onboarding, improve performance and enhance soft skills, means that the market for this in the years to come will be seismic. Especially with hybrid working here to stay, almost all companies will need to embrace VR training solutions to attract, retain and develop talent.”
Name | Measurabl
Sector | ESG
What it does | Used by Boston Properties, the largest publicly listed developer in the US, Measurabl is an ESG management platform, which allows users to measure, manage and report on sustainability-related data in their buildings.
Deal details | The company acquired Hatch Data, a platform that collects real-time data from IoT sensors, meters and building systems, which it will “fully integrate” over time.
Why? | Measurabl wants to be the most comprehensive tool for decarbonising buildings in the market, and this acquisition “completes [its] product vision” by offering real-time, building-level insights, CEO Matt Ellis said.
Name | Leasecake
Sector | Location management
What it does | The software allows tenants, brokers and landlords across commercial real estate to manage location-related services, such as lease management, lease accounting, insurance agreements and franchise operations.
Deal details | Leasecake raised $12m in a Series A funding round led by PeakSpan Capital, a Silicon Valley and New York-based investment firm.
Why? | Another idea driven partly by the growth of hybrid working, Leasecake centralises lease and location information. The software helps users streamline operations, comply with new lease accounting standards and track contracts – all of which is increasingly important for a market that is becoming more flexible.
Name | Beanstock
Sector | Residential
What it does | Beanstock is a French buy-to-let investment marketplace that provides tools for financing, acquiring and managing homes online.
Deal details | Led by 360 Capital with participation from Entrée Capital, PropTech1 and FJ Labs, the Series A funding round raised €12m.
Why? | Konstantinos Matsoukas, investor at PropTech1, said: “Investing in real estate assets is perceived as a complex and non-transparent process that creates high barriers to entry. After seeing various approaches, [founders] Emma [Malha] and Alex [Fitussi] convinced us that the ‘Beanstock way’ removes the friction of a real estate transaction from start to finish and, therefore, enables people like you and me to benefit from the enormous potential that lies behind the asset class.”