Balfour Beatty, the international infrastructure group, today announces a £10 million strategic investment in Pi Labs’ Fund IV, an early-stage venture capital fund and platform focused on technologies transforming the built environment.
The investment will strengthen Balfour Beatty’s access to emerging technologies that could improve productivity, delivery certainty, safety and performance across major infrastructure projects. By working with entrepreneurs across the UK, US and Europe at an early stage, the Group will be able to identify relevant innovations sooner, build targeted partnerships and explore how practical technologies can be tested and applied across its construction projects around the world.
As investment in critical infrastructure accelerates across energy, water, defence, transport and digital connectivity, the industry must find better ways to deliver with greater certainty and efficiency. Practical, scalable innovation has an important role to play in meeting that challenge.
The investment supports Balfour Beatty’s Evolve, Energise and Explore strategic growth plan: strengthening how the Group delivers for customers today while opening up access to the technologies and partnerships that could help shape the infrastructure of tomorrow.
It also reflects Balfour Beatty’s wider focus on improving how infrastructure is planned, delivered, maintained and operated - from better use of data and technology to more sustainable ways of working.
Philip Hoare, Balfour Beatty Group Chief Executive, 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.”
Since its founding, Pi Labs has made more than 100 investments across 15 countries, establishing itself as an active venture investor in the built environment sector. Its platform provides leading corporates operating across the built world value chain access to a global pipeline of early-stage companies developing solutions across areas including artificial intelligence, data and robotics. The latest fund will invest in up to 50 early-stage startups aiming to scale globally from the UK, Europe and North America.
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.”
Through its specialist focus on the built environment, Pi Labs connects early-stage technology companies with the industry expertise, networks and investment needed to help them grow.
Together, Balfour Beatty and Pi Labs will bring promising innovation closer to the projects, customers and communities it can benefit most - supporting new ways to improve productivity, delivery certainty and long-term value across the built environment.
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Notes to Editors
About Balfour Beatty
- Balfour Beatty is a leading international infrastructure group delivering the complex, critical infrastructure that keeps economies moving and communities connected.
- With around 26,000 employees, we finance, develop, build, maintain and operate essential infrastructure across the UK, US and Asia, combining deep engineering and construction expertise with long-term investment capability.
- For over one hundred years, we have delivered landmark projects around the world. Today, our teams are helping to deliver major programmes including Hinkley Point C, the UK’s first new nuclear power station in a generation; the Lyric Theatre in Hong Kong, a world-class cultural venue at the heart of the West Kowloon Cultural District; and the Knox Street Development in Dallas, Texas, a major mixed-use scheme helping to reshape one of the city’s most vibrant neighbourhoods.
We are putting innovation to work where it matters most: improving productivity, safety, and sustainability on live projects. By identifying, testing, and scaling practical technologies across our business, we’re focused on turning innovative ideas into measurable impact and better outcomes for our customers and the communities we operate in.
About Pi Labs
- Pi Labs is a venture capital platform investing in early-stage technology companies transforming the built environment. Founded in 2015, Pi Labs believes that, led by technology, the next 10 years of construction can look very different to the previous 10 years.
- Pi Labs has made over 100 investments and established itself as one of the most active venture capital investors in the built world.
- Fund IV will invest in up to 50 early-stage start-ups, across robotics and artificial intelligence, aiming to scale globally from the UK, Europe and North America. Fund IV has already made its first six investments into agentic AI companies tackling critical challenges across the built environment.
- Balfour Beatty will join a group of strategic investors for Fund IV, including Dar Ventures, the venture arm of design consultancy Sidara, and Ellington Properties, a Dubai-based developer. They join Pi Labs’ wider ecosystem of over 90 limited partners from previous funds, featuring major institutional players such as Dutch pension fund APG, Abu Dhabi’s Aldar, Hong Kong’s Swire Properties, Great Portland Estates and Patrizia AG.
