A London-based leader in AI-powered concrete management and decarbonisation technologies has raised 拢16.9m to accelerate its commercial expansion and develop its platform.聽
Converge saw the round led by ABN AMRO Sustainable Impact Fund (SIF) and also has the backing of firms including Climate Investment (CI), a specialist decarbonisation investor, alongside new investors Move Energy, Pi Impact, J-Impact and existing investors TO Ventures, Force Over Mass Capital and others.聽
Its platform, ConcreteDNA, supports the mission of decarbonising concrete and offers a suite of solutions for generative and predictive AI mix insights, alongside real-time concrete monitoring and data management.
鈥淭his investment round, led by ABN and supported by a consortium of leading impact investors, will empower Converge to accelerate decarbonisation across the concrete industry,鈥� said Raphael Scheps, Converge CEO and co-founder.
鈥淐oncrete is the world鈥檚 most consumed material and one of the hardest sectors to decarbonise. Converge is driving groundbreaking advancements in generative and predictive AI models for material optimisation to tackle this challenge.聽
鈥淭his new capital raise will enable us to rapidly develop and scale these technologies globally. We鈥檙e excited to enter this new chapter in our journey towards building a safer, more efficient, and more sustainable future for concrete.鈥�
Gaetano Giuffr猫, SIF investment manager, added: 鈥淐onverge is driving concrete efficiency, smarter optimization, and lower CO2 emissions in one of the most traditional and high-impact industries.聽
鈥淲e鈥檙e excited to support Raphael, Gideon, and the team on their growth journey as they scale their impact and accelerate the decarbonization of the built environment.鈥�
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