TL;DR:
- UK startup Jitty secures $2 million pre-seed investment for AI-driven property search engine.
- Founded by former Deliveroo employees, Jitty aims to revolutionize the home buying process.
- Platform centralizes property search, management, and collaboration in one place.
- Advanced AI technology, including language models and computer vision, enhances user experience.
- Jitty plans to expand from the UK into European and global markets.
- Funding is led by Gradient Ventures, with participation from Sequoia, Atomico, and more.
Main AI News:
In a groundbreaking move poised to reshape the real estate landscape, UK-based startup Jitty has recently announced a remarkable $2 million pre-seed investment infusion. Founded by a cadre of visionary minds who formerly spearheaded key roles at the pioneering food delivery giant Deliveroo, Jitty is on a mission to construct an AI-driven property search engine. This dynamic platform aims to decipher the intricacies of the housing market, ultimately empowering individuals to discover their dream abodes.
Jitty’s inception in 2023 was the brainchild of luminary CEO Graham Paterson, a stalwart with notable affiliations at Wise and Deliveroo. The triumvirate’s driving force also features Chief Product Officer James Storer, a luminary previously associated with companies like Deliveroo, Freetrade, Habito, and Klarna. The technical backbone is fortified by CTO Daniel Cooper, esteemed for his contributions at Deliveroo, Duffel, and Hopin.
United by a shared experience of navigating the complex realm of home buying, the trio was astounded by the glaring inefficiencies present at every juncture. Their response was the inception of an ingenious property search engine, already boasting a burgeoning waiting list of over 2,000 individuals. Centralizing the entire home buying journey, this engine is poised to be a game-changer. It enables potential homebuyers to seamlessly search for properties while concurrently streamlining the management of the entire process.
At the heart of Jitty’s innovation lies the prowess of advanced AI, harnessed through expansive language models and cutting-edge computer vision. This transformative technology processes floor plans, interpret images, and comprehends property descriptions, elevating the search experience to unprecedented heights. Furthermore, Jitty reinforces its capabilities by cross-referencing data with publicly available databases and third-party services.
Eliminating the cost barriers, Jitty offers a free inquiry and listing of properties. However, its value proposition extends beyond the financial aspects. The platform proffers an arsenal of collaborative tools, facilitating information sharing with loved ones. This negates the need for archaic homegrown spreadsheets and fragmented messenger apps. Users can seamlessly create shortlists and annotations for properties of interest, fostering an immersive and engaging journey.
Graham Paterson, CEO and co-founder, succinctly encapsulates the ethos driving Jitty: “All three co-founders have bought homes in the last few years, and we couldn’t believe how bad the process is at every stage. Some parts (like being in a chain or having complex legal issues) are tricky to solve, but just understanding the market with a great user experience should be easy. We didn’t understand why booking a holiday or buying a book online had better usability than buying a home for several hundred thousand pounds. We’ve set out to give home-buyers the fantastic experience they deserve, by giving them a suite of tools to help every step of the way.”
Acknowledging the sweeping impact of artificial intelligence and, specifically, large-language models, Darian Shirazi, General Partner at Gradient Ventures, asserts: “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 reinvent the home buying experience completely.”
Jitty’s ambitions extend beyond borders. While commencing its journey in the UK, the startup envisions a swift expansion into European and global markets. The funding momentum was spearheaded by Gradient Ventures and witnessed notable participation from entities like Sequoia, Atomico, True Global, Angel Invest, and Tiny VC. The allure of Jitty’s vision has also garnered support from esteemed angel investors, including Doug Monro, former COO of Zoopla, Attest’s Tony Hunter, and the dynamic duo Catherine and Jonathan Lenson. Maze’s CEO and founder, Jonathan Widawski, adds his weight to this formidable coalition.
Conclusion:
Jitty’s substantial investment signifies a pivotal shift in the real estate market. The convergence of AI and streamlined user experience showcases the potential to redefine how individuals search for and purchase homes. As Jitty’s innovative platform expands geographically, it has the capacity to set new industry standards, influencing competitors to enhance their offerings to meet the demands of modern homebuyers. This disruption prompts a new era in real estate where technology and user-centric design converge to simplify the intricate process of acquiring properties.
