Last Week in ConTech - 25 September 2023
Autonomous Driving Lanes
ConTech Roundup - Startup funding & news and acquisitions that was important this week in Construction Technology. No fluff. No hype.
Last Week in ConTech - 25 September 2023
Startup Funding
Building Decarbonization
Mojave Energy Systems, a Californian startup, raised $12.5m in funding. They make devices which dehumidify commercial HVAC systems to reduce climate impact. More here.
Openvolt, an Irish startup, raised €1.5m in pre-seed funding. They provide an API for energy data initially focusing on smart meters to make the data more accessible to companies and landlords interested in reducing their carbon footprint. More here.
Transportation
Tikpay, a Melbourne, Australia startup, raised $1.6m in pre-seed funding. They are building an account-based ticketing and payments platform for the public transport sector. More here.
Mapping
Mapox, a San Francisco startup, raised $280 million in Series E funding. They provide location mapping and services for automakers, logistics and the real estate industry. More here.
Water/Sewers
Voda.ai, a Boston startup, received investment. They provide asset management solutions powered by AI for water and wastewater utilities. More here.
HPNow, a Danish startup, raised $15m. They provide clean water and sanitation solutions by providing on site and autonomous hydrogen peroxide generation solutions. More here.
Decarbonization
Optera, a Colorado startup, raised $12m in Series A funding. They are building an enterprise emissions management software. More here.
Real Estate
qbiq, an Israeli startup, raised $10m in seeding funding. They use generative AI to quickly create layout plans and 3D virtual tours. More here.
Cecilian Partners, a Pennsylvania startup, raised $11m in funding. They are building end to end digital solutions for home builders and land developers. More here.
Estate Media, a Los Angeles startup, raised $1.65m in funding. They are building a media company focusing on the real estate industry. More here.
Other
Fernride, a Munich, Germany startup, raised $19m in Series A extension funding. They supply automation technology to support remote controlled operations for yard trucking which helps move cargo and goods on site. More here.
Equiptal, a Saudi startup, raised $1m in pre-seed funding. They are building a heavy equipment rental marketplace. More here.
Difon, a South Korean startup, raised $9.3m in Series A funding. They develop smart windows.
New Funds
Brookfield Asset Management and Societe Generale are launching a €2.5b private debt fund to invest in power, transportation and finance sectors. More here.
Acquisitions
Vortex, a provider of trenchless infrastructure rehabilitation products, received investment from Quad-C Management, a middle market PE firm. More here.
Casafari, a real estate data firm in Lisbon, has acquired Targomo, a location intelligence firm in Berlin. More here.
News
4 founders give us their take on what’s ahead for construction tech (TechCrunch, paywall)
PropTech Hot Takes (Vertical)
“ConTech is 75% Lifetime Value. If you are solving an important enough problem that project managers at general contracting firms actually TELL each other about your tech, you win. Most times, the project ends and your sales cycle starts all over.”
“Pilots with huge companies when you are a small startup is generally a bad idea. They are too slow and bureaucratic to move at a reasonable pace. You need revenue. Go for the small guys that act quickly, not the eye-candy logos for your website.”
Japan aims for nationwide autonomous driving lanes (paywall)
Note: To support the use of autonomous vehicles, we need to upgrade our road infrastructure. Vehicle to everything (V2X) and vehicle to infrastructure (V2I) systems are integral for this and (I believe) cities will soon have structured autonomous zones in their centres - areas where only autonomous vehicles are allowed. For more check out Cavnue. They are a startup focused on building the future of roads.
Biden-Harris Administration Announces $400 Million for States to Improve Building Energy Efficiency
If I missed anything this week, please reply and let me know! I’ll make sure to include it next week