Responsive Image Banner

Tech firm raises millions to commercialise automated building design

Premium Content

A screengrab of the ESD automated design module Image: Augmenta

A company developing an automated building design system for the construction industry has raised US$11.75 million in extra seed capital.

Augmenta will use the funds to commercialise its design platform, doubling its team over the next nine months in engineering, sales and support.

Augmenta aims to bring the Electrical System Design (ESD) module of its Augmenta Construction Platform (ACP) to market in the first quarter of 2024.

The company claimed that its ESD module can generate fully constructible, code-compliant designs of electrical raceway routing for electrical engineers and contractors.

Meanwhile, it also plans to expand into adjacent markets with the development of plumbing and mechanical modules.

The new funding takes the total the company has raised to $15.9 million.

Francesco Iorio, CEO of Augmenta said, “Our vision is to completely disrupt an element of the construction industry that has remained largely unchanged for decades.

“Building on the success of the ESD beta program that is currently underway, we are very well positioned to scale these initial tests as pilots and begin generating revenue as we prepare for our expansion into adjacent markets.”

Charly Mwangi, partner at investment company Eclipse, added, “The construction industry has yet to reap the productivity, scalability, and sustainability benefits of advanced technology other industries have been transformed by.

“Using generative AI coupled with a world-class technical team, Augmenta’s design platform will completely turn the construction industry on its head.”

Mwangi will join the Augmenta board of directors as part of the investment deal. Eclipse led the investment, alongside Hazelview Ventures, BDC Capital’s Deep Tech Venture Fund, and Suffolk Technologies.

STAY CONNECTED

Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.

Sign up

Longer reads
The good, the bad and the undeniable truth about… project management software
To really get on board with the digital transformation of construction, you have to know what it means – and what it might look like
Skanska calls for EU procurement reform to drive climate action
A new report from Sweden-based contractor Skanska highlights the need for procurement reform
How visual data and AI are driving smarter jobsites
Julie Pistritto, VP of Sales, Sensera Systems, on how AI can help construction create smarter, and safter, jobsites 
CONNECT WITH THE TEAM
Andy Brown Editor, Editorial, UK - Wadhurst Tel: +44 (0) 1892 786224 E-mail: [email protected]
Neil Gerrard Senior Editor, Editorial, UK - Wadhurst Tel: +44 (0) 7355 092 771 E-mail: [email protected]
Eleanor Shefford Brand Manager Tel: +44 (0) 1892 786 236 E-mail: [email protected]
CONNECT WITH SOCIAL MEDIA