Former Deliveroo executives secure funding for AI property search engine

August 28, 2023
AI property

Three former executives from Deliveroo have secured a $2 million investment for their property search engine start-up, Jitty, backed by Google’s AI-focused fund, Gradient Ventures.

Insiders indicate that an official announcement will come this week about Jitty’s fundraising, led by Gradient Ventures, a specialized AI fund initiated by Google.

Designed to revolutionize the home-buying process, Jitty employs large-language models (LLMs) and computer vision (CV) technologies to analyze property floor plans and comprehend images and descriptions of homes.

The platform has already attracted a waiting list comprising thousands of potential users prior to its first release. Setting it apart from other competitors in the digital real estate search arena, most notably Rightmove and Zoopla, Jitty has chosen not to levy fees on estate agents for listing properties or receiving inquiries. 

According to the company, its approach will enhance the pairing of homebuyers with properties that meet their criteria, and its advanced AI tools will help them navigate the real estate market.

This was in part motivated by the founders’ own difficulties in purchasing their first homes, a process that can be notoriously confusing in the UK, at least. 

Co-founded by CEO Graham Paterson, James Storer, and Daniel Cooper, who are Deliveroo alumni, Jitty aims to address the inefficiencies and frustrations commonly associated with home-buying.

 “All three co-founders have bought homes in the last few years, and we couldn’t believe how bad the process is at every single stage,” stated Paterson. 

“Some parts, like being in a chain or having complex legal issues, are tricky to solve, but just being able to understand the market with a great user experience should be easy.”

Initially launching in the UK, the start-up plans to expand into other European markets.

Commenting on the investment, Darian Shirazi, general partner at Gradient Ventures, said, “Artificial intelligence and specifically large-language models are bringing new experiences and workflows to all aspects of our lives. We’re excited to partner with Graham and the team at Jitty as they use LLMs and computer vision to completely reinvent the home buying experience.”

Finding methods of integrating LLMs into novel tools and services will likely be a productive avenue for startups to explore over the coming years.

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Sam Jeans

Sam is a science and technology writer who has worked in various AI startups. When he’s not writing, he can be found reading medical journals or digging through boxes of vinyl records.

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