UK proptech Martello raises £1.2M to modernise environmental risk reporting

UK-based proptech Martello has raised £1.2 million in Seed funding to accelerate the rollout of its AI-powered platform. Martello aims to overhaul how environmental and property risks are assessed during the conveyancing process.

The round was led by Fuel Ventures, with additional participation from strategic angel investors.

Founded in early 2024, Martello streamlines the diligence process involved in UK property transactions. Its platform uses artificial intelligence to analyse thousands of environmental data points in real-time, surfacing critical risks such as flooding, subsidence, and land contamination. 

Environmental searches are a legally required part of nearly every property purchase in the UK, but the tools used to generate them are often outdated. The industry has long relied on PDF-heavy, static reports which can be difficult to interpret, especially by non-specialists. These reports are generated by a handful of legacy providers, many of whom have made only incremental changes over the past two decades.

Martello employs a data-led approach, replacing PDFs with interactive dashboards and machine-learning-powered insights. The startup is working with a number of established law firms to fine-tune its offering through rapid iteration.

Environmental risk is becoming an increasingly material factor in property valuation and mortgage lending decisions. According to the UK’s Environment Agency, more than 5 million homes in England are at risk from flooding alone. Meanwhile, climate change and tightening regulatory frameworks are driving demand for more transparent, accurate, and timely risk assessments during the property-buying process.

“In my opinion, the foundations of Environmental searches haven’t changed in 20 years - and they’re often ambiguous and risk-prone,” said Dr Henry Crosby, Co-Founder and CEO of Martello. “Martello is bringing much-needed clarity to an increasingly critical part of the conveyancing process. With this funding, we’re building a platform that helps everyone involved in a property transaction make faster, more informed decisions.”

“We’re thrilled to back Martello at this early stage,” said Mark Pearson, Managing Partner at Fuel Ventures. “The founding team brings a unique combination of legal domain knowledge and technical innovation, and they’re tackling a problem that’s long overdue for disruption. With deep insight into the conveyancing process and strong backing from industry insiders, Martello is well positioned to become the new standard for environmental risk reporting in UK property.”