Viability, a software platform designed for the building industry, has raised £535,000 in new funding. The London-based PropTech startup, formerly known as Hesti LTD, provides tools for property developers to perform site feasibility studies, development appraisals, and viability analysis with precision. The recent investment includes contributions from SFC Capital, Clearance Venture Partners, co-founder Paul Higgs, and grants from HM Land Registry (via the Geovation accelerator) and Innovate UK.
The funds will support Viability’s efforts to use artificial intelligence in promoting sustainable development in the housing market. Adrià Tarrida, co-founder and CEO of Viability, expressed satisfaction with the funding round, noting that it validates the company’s vision set during its early days at the Venture Builder Carbon13. Tarrida emphasized that this investment will help accelerate growth and enhance the company’s ability to deliver innovative solutions to the housing sector.
The UK government’s commitment to building 370,000 homes annually has created a favorable environment for Viability. With the housing sector expanding, Viability’s platform aims to assist housebuilders, planners, and the Modern Methods of Construction (MMC) sector in meeting these targets efficiently.
Henry Mayell, co-founder and COO, highlighted the growing complexity of land regulations and the challenges in assessing land viability as critical barriers to meeting housing targets. “The investment we’ve received reaffirms the importance of our mission and reflects the dedication of our team,” Mayell stated.
Viability utilizes a combination of property and geospatial data and proprietary data analysis to offer software designed specifically for small and medium-sized home developers. The software aims to enhance efficiency, cut costs, and encourage sustainable practices in determining site viability within minutes, as opposed to weeks.
Paul Higgs MRICS, a founding director and a veteran of the land, planning, and property development sector, praised the company’s innovative approach. He remarked, “Viability is built on real-world knowledge and experience, aligning perfectly with the future direction of the industry.”
SFC Capital and Clearance Venture Partners have also expressed support for Viability’s potential impact on the housing market. Their investments will enable further development of the platform, incorporating more AI-driven solutions to scale its capabilities.
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By Proptechbuzz
By Ravi Kumar
