The tech entrepreneur who profiled Rachel Reeves ahead of her speech at this autumn’s Labor Party conference is raising £5m for her architectural tech start-up.

Sky News understands that Resi Design, which was co-founded by Alex Depledge and counts ITV, the broadcaster, among its shareholders, is in detailed talks to close a funding round that will value it at around £20 million.

Sources said Nesta and Foresight, two investment funds, were in talks to inject just under £5 million into the business.

Foresight is also reportedly acquiring a stake in Resi Design, owned by the venture capital arm of Omers, the Canadian pension fund.

Resi Design was founded by Ms Depledge and Jules Coleman in 2017 and has previously expressed ambitions to go public at some point.

The company is chaired by Tim Weller, a serial entrepreneur who oversaw Trustpilot’s listing on the London Stock Exchange.

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Originally called Buildpath, Resi Design aims to provide a comprehensive service to homeowners wishing to build or extend their properties.

Last year, ITV’s media-for-equity division took a stake in the company in exchange for advertising inventory worth up to £3 million.

Ms Depledge addressed the Labor conference just before the chancellor’s speech last month, telling delegates: “If I have to choose an intelligent person to run this nation’s spreadsheets, I choose Rachel… if I must choose a leader to champion high growth and balance. our books, once again, I choose Rachel.

The co-founder of Resi Design has been contacted for comment.