33East backs Piney as Cyprus Computer Society submits AI strategy recommendations

Nicosia, Cyprus. Cyprus-based venture capital firm 33East has invested in property operations startup Piney, which raised €1.6 million while expanding from Europe into the United States. Separately, the Cyprus Computer Society has submitted 33 recommendations aimed at strengthening Cyprus’ National Artificial Intelligence Strategy 2032.

Piney expansion

33East said Piney, a Cyprus-founded startup, had expanded across five European markets before recently launching in Miami.

“Nicolas Chrysostomou is a perfect example of what happens when a founder treats Cyprus as a proving ground and is not afraid to go beyond,” 33East said in an online post.

“Five European markets later, Piney has just opened in Miami. 5,000 properties, six countries,” the venture capital firm added.

The investment was made alongside Uni.fund and Venteri Capital. Uni.fund led Piney’s latest funding round after also backing the company in 2024.

AI strategy proposals

The Cyprus Computer Society said its recommendations were submitted during the public consultation on the National AI Strategy 2032.

The professional and independent non-profit organisation welcomed the publication of the strategy as an important step towards a coordinated national approach to artificial intelligence, while calling for greater focus on translating ambitions into measurable and practical results.

The CCS thanked Chief Scientist Demetris Skourides and the members of the National AI Taskforce for their work in developing the strategy.

It said the recommendations were submitted in a constructive spirit and recognised the extensive work already carried out in preparing the framework.

The organisation also said it was ready to contribute to implementation through its representatives’ participation in authorities, bodies and committees expected to be established under the strategy, a role it said it was formally seeking.