1848 Ventures (see Pulse 2.0 profile here), an AI-first venture studio building SaaS solutions for small and medium-sized businesses (SMBs), announced the acquisition of Luminest, an AI-based home management startup focused on predictive maintenance and structured property data.
This deal marks a major milestone in the evolution of 1848 Ventures from a venture builder to a full-spectrum venture creation platform capable of acquiring, integrating, and scaling strategically aligned companies. And this is the first acquisition in the studio’s history and signals a broader expansion of its investment strategy.
Luminest’s AI models and structured data infrastructure will be integrated into 1848 Ventures’ efforts to address demand generation and job quality challenges facing specialty contractors and skilled trades professionals.
With this deal, Luminest founder Jateen Parekh and founding engineer Adam Kay will be joining the 1848V team. And Parekh joins 1848V as Venture Leader and was most recently Executive Vice President of Ad Technology & Platforms at iHeartMedia. Earlier in his career, Parekh was the first employee at Lab126, where he was responsible for building the original Amazon Kindle product, team, and platform, playing a major role in one of Amazon’s most iconic hardware and software launches.
Kay joins 1848V as Engineering Lead and he is a seasoned full stack engineer with experience at ControlZee, iHeartMedia, Jelli, and Midway Games, where he specialized in engineering innovation and rapid prototyping. And he has collaborated with Parekh on special projects for over a decade, bringing a strong and time-tested dynamic to the leadership team.
KEY QUOTES:
“This marks a turning point for 1848 Ventures. As the venture landscape continues to evolve, so will 1848 Ventures. We’re not solely focused on building companies from the ground up. We’re assembling high-signal platforms, top-tier talent, and proprietary technology to solve the most pressing problems facing SMBs. Luminest brings all three, allowing us to accelerate key initiatives already underway within our venture studio.”
“We’re designing a venture platform with range—where we can build from zero, scale with speed, and integrate innovation when it makes strategic sense. Luminest fits this model perfectly: high-caliber talent, differentiated technology, and alignment with where we believe the market is going.”
Kal Amin, 1848 Ventures’ Managing Partner
“We’ve always believed that combining individualized property data with proprietary models and applied data science could fundamentally reshape how services are matched and delivered. With 1848 Ventures, we now have the platform, resources, and strategic alignment to bring that vision to life.”
Luminest founder Jateen Parekh
