[blitzar]

> Between May 2023 and March 2025, Tract attempted to build a venture-backed company to address Britain’s housing crisis by improving the planning permission process. After raising a £744,000 pre-seed round in April 2024, we explored several business models: a site-sourcing tool for developers (Tract Source), a free land-appraisal tool for landowners (Attract), becoming tech-enabled land promoters ourselves, and finally, an AI-powered platform to assist with drafting planning documents (Tract Editor).

11 months, 4 pivots (of course one was to Ai) and a cash burn of ~£70,000 per month (approx $100,000) - if you can give me the details of the mark they got £744,000 from, I have a bridge to sell them.

[vintermann]

Makes you wonder about their "get to the US" lesson learned.

[blitzar]

Burning a million dollars isn't cool. You know what is? Burning a billion dollars.

[bcjdjsndon]

Loool

[mellosouls]

That's quite a cynical take. They say they returned left over cash to investors though without details.

[blitzar]

A quick scan of the company liquidation & accounts - they wrapped up with fixed assets of £4,000 (2 laptops?) and £300,000 in cash. So they only burnt through £400k in the year.

They do say fail fast.