Lette AI, a Dublin-based PropTech startup developing an agentic AI operating system for property teams, has raised $1.4m in pre-seed funding to accelerate its mission of automating the property leasing and management lifecycle. The round was led by Pitchdrive, with participation from Baseline Venture, Lugus Capital and several angel investors, including Mark Ransford and Conor Sheridan of Nory AI.
Founded in March 2025 by Mohan Sai and Jakub Rajek, the company aims to eliminate the inefficiencies of traditional property management by using AI to automate administrative workflows and tenant interactions. Since its launch, Lette AI has gained traction among major institutional landlords, managing over 5,000 properties across the UK and Ireland, including portfolios from Grayling Properties, Storyhouse by Ardstone, Hali, Liberties House, Rathmines House, and Lugus Capital.
“The property market is changing fast. Investors and residents expect a smarter, more responsive experience. As both a customer and an investor, we see Lette as a next-generation platform that’s answering that need. Its AI-first approach removes blockers and manual friction, freeing our teams to focus on delivering the highest quality service. For Lugus, investing in Lette is about backing the future of asset management, where technology is a tool that drives performance, transparency, and tenant satisfaction.”
Peter Horgan, Managing Director, Lugus Capital
Operating in a global property management sector valued at over $200bn, Lette AI applies agentic AI technology to reduce repetitive administrative workloads by up to 90%, freeing property teams from manual tasks such as tenant onboarding, renewals and maintenance coordination. The company estimates that users save around 100 hours per month through automation, resulting in a twofold increase in productivity.
Mohan and Jakub previously worked on the founding team at Nory, an AI-driven restaurant management platform that raised $37m in Series B funding. Drawing from that experience, they are now applying similar AI methodologies to streamline workflows for real estate operators and asset managers.
“The problem with property management today is that most systems are just glorified spreadsheets. They make the job slower, more repetitive, and inefficient. With this funding, we are launching one of the first agentic AI operating systems in the property sector that handles the real tasks that drive margins, protect asset value and keep tenants happy. By bringing ground teams, residents, and investors together in one place, we aim to make operations smoother, service more personal, and portfolios more successful.”
Mohan Sai, Co-founder and CEO, Lette AI
The pre-seed round reflects growing investor confidence in AI’s role within property operations. According to Lette AI, its valuation has reached the multi-million-dollar level following strong early adoption from leading landlords and asset managers.
The new funding will support team expansion, product development, and growth across Ireland, the UK and the UAE, with a target of managing 25,000 properties and achieving $1.1m in annual recurring revenue by March 2026.
“Lette AI is a game-changer in the $200 billion global property management market. Its pioneering AI agents slash onboarding times by over 50% through seamless automation of rentals, tenant screening, and communications, delivering immediate, measurable value. Our confidence stems from the proven technology’s rapid traction and the exceptional founding team of Mohan Sai and Jakub Rajek, whose experience scaling Nory equips them to redefine the entire property lifecycle. Pitchdrive is proud to fuel this ambitious vision.”
Boris Bogaert, Managing Partner, Pitchdrive
At Storyhouse, a professional residential operator under Ardstone, Lette AI has already demonstrated measurable benefits in the leasing process.
“The rental market in Dublin is extremely competitive, with each available property subject to significant demand from prospective tenants. Using Lette, our leasing agents can respond faster and more effectively manage viewings, thereby delivering a better experience for our customers. The result is quicker decisions, better communication, and a smoother rental journey for tenants.”
Debby Johnson, Senior Leasing Manager, Storyhouse
Lette AI has appointed Jon Hammond as Head of Growth, bringing more than two decades of experience scaling SaaS and PropTech businesses, including his tenure at Zero Deposit. The company’s next phase will focus on enhancing its proprietary AI engine and deploying autonomous AI agents across leasing, operations and tenant engagement – advancing a vision of property teams as strategic asset managers rather than administrative coordinators.
