The last half-year is in the books. A lot happened, and so easy to lose track.

This is the place where we make it easy for you, where we celebrate the biggest news from the Foundamental ventures family across AEC-Tech, Con-Tech, and their related Supply Chains from the last 6 months.

tl;dr

• Total new funding (equity and debt) to the Foundamental portfolio: $498 million
• New first-cheque investments: 5 new startups
• From geographies: USA, India, Germany, Netherlands, France, UK, Singapore, Australia, UAE
• Spanning these AECS-Tech sub-sectors: Finance, Robotics, SaaS, AI, Logistics, SMBs, Renovation, Insulation, Procurement, B2B Marketplaces, Cloud Manufacturing, Cloud Installation

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Portfolio fundraisings in H1-2024

Celebrating here some of the closed financings that Foundamental’s portfolio founders across architecture, engineering, construction, renovation, 3D and CAD, supply chains and logistics, and blue-collar and robotics technology ventures achieved in the last half year. Only closed rounds, and only the biggest ones, in alphabetical order.

Adaptive

Adaptive offers financial software as an all-in-one construction finance app for builders, remodelers, and developers to optimize their financial performance through automated bookkeeping, cash flow management, vendor compliance, and real-time budgeting integrated with Quickbooks. Adaptive saves construction teams time and money by making it easy to stay on top of project finances. USA.

New funding: $19 million from Emergence Capital, a16z and others.

InfraMarket

InfraMarket supplies a wide range of building materials for construction projects, serving builders, contractors, and homeowners with products from cement and steel to tiles and kitchens, aiming to simplify procurement. India.

New funding: $90 million, thereof $20M in Equity and $70M in debt from MARS Unicorn Fund and Liquidity Group.

Metalbook

Metalbook is a digital supply chain platform that connects global networks of metal suppliers and provides customers with the best prices on the market. It offers customization and processing of metal products specific to customer needs. Metalbook also facilitates transactions, enables smart matchmaking and removes manual tasks through automation to save customers time. India.

New funding: $15 million from Rigel Capital and others.

Monumental

Monumental automates brick-wall construction with robotics and software. Working towards making construction software-defined, Monumental provides robotics systems to autonomously build on-site. Netherlands.

New funding: $25 million from Plural, Hummingbird and others.

Ofload

Ofload centralizes road-freight management, linking shippers and carriers to enhance supply chain visibility and efficiency. With a large carrier database and a commitment to zero emissions, Ofload optimizes trucking operations across Australia.

New funding: $20 million from Yarra Capital and others.

PermitFlow

PermitFlow helps construction companies obtain permits faster and easier. Its software platform allows users to prepare applications, submit to municipalities, track permits, and manage the approval process and comments, handling the permit preparation and submission process across the USA.

New funding: $31 million from Kleiner Perkins, Felicis and others.

VARM

VARM provides retrofit insulation solutions for buildings through highly standardized methods and processes. Helping building owners reduce heating costs and carbon emissions by up to 50%, VARM completes insulation jobs within a matter of days via their cloud installer network powered by its proprietary software operating system. Germany.

New funding: $6 million from Emerge, Pale Blue Dot and others.

Wiz Freight

Wiz offers a full-stack freight forwarding platform with AI-driven instant capacity discovery, dynamic pricing, optimized routing, door-to-door visibility, and automated document workflows, catering to the logistics sector. India and Singapore.

New funding: $15 million from SBI Investment, Tiger Global and others.

The stealthy ones that were closed but not announced yet

A spend management FinTech for SMBs, a green renovation platform, an energetic renovation category leader, a supply chain and logistics software, a 3D design software, a cloud manufacturing marketplace, a construction robotics firm. Across USA and Europe.

New funding: $277 million, closed and to be announced soon.

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Newest Foundamental family members in H1-2024

Super proud to welcome here the newest founders who’ve invited us into their family in the last half-year. We are always open for business and forming new partnerships through early-stage investment, and our streak kept going as you can see.

Aeria

Aeria provides a digital tenant experience platform that aims to transform tenant communications, community engagement, smart building functionality, and property management for developers and owners. Aeria’s all-in-one solution improves tenant satisfaction, retention, and property operations through streamlined digital tools and services. India.

Anodet

Anodet's anomaly detection system streamlines building management by offering real-time alerts and event detection on top of the 100 million cameras installed in multi-family developments, crucial for renovation efficiency and safety. By automating monitoring, it reduces the need for manual checks, cutting down the operational costs and time property managers spend on surveillance. With Anodet, renovations in multi-family dwellings become more manageable, ensuring timely intervention for any irregularities and fostering collaboration between owners and service contractors. USA.

Faktus

Faktus provides financial solutions to address cash flow challenges for small and medium-sized businesses in the construction industry. Faktus offers tech-enabled services like factoring, material advances, and surety bonds to help construction SMBs manage their cash flows through an online platform that allows customers to validate invoices, manage projects, and access financing options. France.

Marrfa

Marrfa operates a digital platform for buying and selling homes prior to being outfitted or renovated. Marrfa's valuation technology and marketplace streamlines and simplifies the process of buying and selling properties before an outfitting or renovation. UAE.

MyGenie

MyGenie fits-out spaces and buildings utilizing its AI-powered tools to enhance the efficiency and quality of their projects. MyGenie’s system analyzes historic data to identify issues and makes recommendations to fix them, resulting in efficient project management and cost-effectiveness. India.

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Other noteworthy events in H1-2024

And last but not least, here are some other recent events of note from the Foundamental family.

1build rebrands to become Handoff

Handoff (formerly 1build) offers a SaaS platform for construction professionals, automating project estimates from plans and scope details using machine intelligence, boosting accuracy and bid success. USA.

Foundamental’s new content hub launched

Founders, industry experts and investor-friends, you find an encyclopedia of venture- and tech-related perspectives for AEC- and Constru-Tech in our new content hub. More than 300 resources, we are currently adding on average 4 new resources every week. Best to check back weekly.

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Off to a fantastic next half-year in AECS-technology, ConTech, blue-collar, robotics, supply chains and logistics. See you on the other side !