A London-based leader in AI-powered concrete management and decarbonisation technologies has raised £16.9m to accelerate its commercial expansion and develop its platform.
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.
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.
“This investment round, led by ABN and supported by a consortium of leading impact investors, will empower Converge to accelerate decarbonisation across the concrete industry,” said Raphael Scheps, Converge CEO and co-founder.
“Concrete is the world’s 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.
“This new capital raise will enable us to rapidly develop and scale these technologies globally. We’re excited to enter this new chapter in our journey towards building a safer, more efficient, and more sustainable future for concrete.”
Gaetano Giuffrè, SIF investment manager, added: “Converge is driving concrete efficiency, smarter optimization, and lower CO2 emissions in one of the most traditional and high-impact industries.
“We’re 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.”
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