Last Week in ConTech

🎉 We’ve hit 2,000 followers! Last Week in ConTech has grown from an idea to a platform with almost 2,000 followers, connecting professionals in the construction technology space. It’s opened doors we never expected—new opportunities, meaningful connections, and exciting collaborations like launching AEC Tech jobs and featuring guest writers from top industry leaders like Erin Khan, Nate Fuller and Prakash Senghani. As we enter 2025, we’re excited to bring you more insights from investors, executives, and founders shaping the future of ConTech. Watch this space and subscribe to stay up to date with our newsletter! 👇

Check Out the Big Moves in Energy and Innovation This Week: 👇 Oklo Inc, a small modular reactor developer, signed a nonbinding agreement with data center developer Switch to potentially deploy 12 GW of reactor capacity over 20 years. The deal sets a collaborative framework, with binding agreements expected at project milestones. Initial deployment of Oklo’s 50-MWe Aurora reactor could begin by 2029. Trucks Venture Capital, San Francisco-based VC, secured $70M for its third fund to invest in early-stage startups transforming the transportation sector, including construction equipment automation and decarbonization. Known for backing ambitious hardware ventures, the firm has supported companies like train efficiency software developer Railvision Analytics, and autonomous heavy-equipment startup Teleo. Germany has scrapped €350M in hydrogen project subsidies under the European Hydrogen Bank program after failing to reach terms with the EU. The EU's price ceiling of €1.44 per kilogram was deemed too low by companies due to Germany’s high power costs. The funds may now be redirected to other green initiatives or the federal budget. Despite this setback, Germany remains committed to producing 10 GW of hydrogen by 2030. Subscribe to our weekly newsletter with the link below! 🗞️ 

Which ConTech startups are making waves with big funding rounds this week? 🔥 Sitemate , an Australian startup, offering no-code tools for construction workflows, raised $27.5M in Series A funding led by Blackbird Ventures. Sitemate addresses inefficiencies in the "built world" by replacing outdated processes with customizable digital solutions. Valued at nearly $200M, it plans international expansion, including an Austin office. Founded in 2018, Sitemate has grown steadily, earning comparisons to Atlassian. Buildpeer, a Mexican startup , secured $2.5M from investors including Brick & Mortar Ventures to expand its construction platform, which features 10+ modules for efficient project management. The mobile- and web-friendly tool connects teams, supports multilingual collaboration, and offers flexible pricing for small and large teams. SmartAC.com, a Houston startup, secured $8M to expand its platform, which helps contractors monitor and manage HVAC and plumbing systems using sensors and AI. The platform supports proactive maintenance, customer loyalty rewards, and sustainable home solutions, achieving a 97% retention rate. Subscribe to our weekly newsletter with the link below! 🗞️

$3B investments, fast-tracked permits, and renewable energy breakthroughs: 👇 President-elect Donald Trump vows to fast-track permits for $1 billion energy and construction projects, including environmental approvals, sparking criticism from environmental groups for bypassing regulations. Africa Finance Corp. plans to invest over $3 billion in 2025 to enhance the region’s trade readiness and position as a key metals supplier. Priorities include advancing projects like the railway connecting Zambia's mines to Angola's Lobito port, alongside initiatives in agriculture, electrification, eco-tourism, food security, and renewable energy. Abu Dhabi plans to attract private sector investment to fund $123 billion in infrastructure projects over the next 5 to 10 years, focusing on road networks, transport, schools, and hospitals. Subscribe to our weekly newsletter with the link below! 🗞️

Who are the hottest ConTech startups raising this week? 👀 Aisti, a Finnish startup, raised €29M to build a factory for its patented wood-fiber acoustic tiles, offering a sustainable alternative to mineral wool. Founded in 2019, the company uses innovative foam-forming technology for construction and insulation materials. GovSignals, a New York startup, raised $5.5M in Seed funding to expand its AI-powered platform, which analyzes government data to help clients identify and bid on contracts pre-RFP. Founded in 2023, it has rapidly grown its customer base, including a global top 3 consulting firm. Nscale, a London-based startup, raised $155M in Series A funding to design and build renewable energy-powered data centers tailored for AI applications. The company specializes in GPU superclusters and high-performance AI cloud services, scaling its data center pipeline from 300MW to 1.3GW across Europe and North America. With a vertically integrated approach, Nscale delivers bespoke GPU clusters and plans to launch a public AI cloud service in 2025. Subscribe to our weekly newsletter with the link below! 🗞️

This Week in Construction Tech News: 👇 A $106 million payments outage in Italy was caused by gas roadworks damaging Worldline’s network connection to its data centers. Meanwhile, Wells Fargo’s CEO Charlie Scharf expressed confidence in addressing compliance issues, including lifting a $1.95 trillion asset cap by 2025, imposed after its fake account scandal. The bank is also improving anti-money laundering practices under regulatory oversight while focusing on growing its trading business. India plans to invest Rs 9 trillion to enhance its power transmission infrastructure by 2032. The National Electricity Plan also includes expanding inter-regional transmission capacity, adopting advanced technologies, and boosting private sector participation while integrating cross-border interconnections with neighboring countries. New York is providing $10 million to building owners and HVAC manufacturers through the Clean Heat for All program to develop and demonstrate cold climate heat pumps for multifamily, senior living, and hospitality buildings. These efficient, plug-and-play systems aim to lower emissions, enhance comfort, and reduce costs while supporting the state's decarbonization goals. Subscribe to our weekly newsletter with the link below! 🗞️

This week in ConTech Startup Raises: 👇 Visibuild, a Australian construction tech startup, raised $6.6 million in funding led by Skip Capital. Its mobile app enables real-time tracking of quality inspections and defects, reducing errors and costs by up to 50%. Used by over 1,800 companies across 700 projects, it aims to improve construction efficiency and accountability while expanding in Australia and beyond. Faraday, a New York-based startup, secured $3.3 million in funding. The company offers a training and certification platform focused on skilled trades like HVAC, electrical work, plumbing, and solar installation. Their goal is to prepare individuals for careers in these fields while connecting them with local employers who can hire and sponsor their training. Surfaice, a San Francisco startup backed by Shadow Ventures, is transforming construction with AI-powered automation. Their platform autonomously manages repeatable projects like EV charging stations and fast-food outlets, cutting costs by 7%, speeding approvals by 24%, and reducing errors by 17%. Targeting a $9.4B market, Surfaice is redefining scalable, AI-driven construction management. Subscribe to our weekly newsletter with the link below! 🗞️

This week in ConTech news: 👇 Meta plans a $10B, 40,000-km subsea cable to connect the U.S., India, South Africa, and Australia, avoiding geopolitical hotspots. As the sole owner and user, it will expand Meta’s private data network, complementing its stake in 16 existing cables. Indonesian President Prabowo Subianto announced plans to retire all coal and fossil fuel power plants within 15 years, aiming to combat global warming. The government also intends to add over 75 gigawatts of renewable energy capacity during this period, despite challenges as coal and natural gas currently generate 80% of the country's electricity and renewable capacity remains under 1 gigawatt. The World Bank is in discussions with Türkiye about a $28 billion financing plan to transform its energy transmission infrastructure. The funding, sourced from international financial institutions and commercial financing, may involve support from the World Bank’s MIGA. The plan also includes potential collaboration on offshore wind energy and processing critical raw materials for renewable technologies. Subscribe to our weekly newsletter with the link below! 🗞️

This week in ConTech Startup Raises: 👇 Constrafor, a NYC construction tech startup, raised $14M in Series A funding and a $250M credit facility. Its platform streamlines procurement, invoicing, and subcontractor management for general contractors while offering subcontractors cash flow solutions like an Early Pay Program and an upcoming CFO Suite. Predium, a German startup, raised €13M in Series A funding led by Norrsken VC. Predium’s platform for ESG management creates digital twins of buildings by combining existing data with AI, satellite images, and 3D models. It helps real estate stakeholders identify renovation priorities, optimize costs, and guide investment decisions to enhance property value and sustainability. R2 Building, a Californian modular construction startup, received an undisclosed investment from Webcor Ventures. Known for its non-combustible steel systems for high-rise construction and modular homes, R2 Building aligns with Webcor's focus on sustainable and innovative building solutions, marking the launch of its contech investment arm. Subscribe to our weekly newsletter with the link below! 🗞️

This week in ConTech news: 👇 The construction industry, projected to grow from $7.9 trillion in 2022 to $14 trillion by 2037, faces significant corruption risks due to its complexity and interaction with multiple stakeholders. To mitigate these risks, companies are recommended to implement robust anti-corruption measures, including strong leadership support, comprehensive policies, risk-based due diligence, regular risk assessments, whistleblower programs, and training. Nearly Half of IIJA Funds Unspent as Trump Administration Approaches. Biden officials are accelerating fund distribution before the incoming Trump administration, which may reduce support for public transportation, rail, and EV projects. Despite potential changes, many in the construction industry believe infrastructure funding will persist. The IIJA has created 940,000 jobs and funded thousands of road, bridge, water, and airport projects. Nearly 700 global projects aim to decarbonize heavy industries like steel, cement, and chemicals, which account for 30% of global greenhouse gas emissions. However, only 136 projects have secured financing or permits, while the rest face delays, often awaiting investment decisions for over two years. Experts warn that meeting 2030 climate goals requires urgent action, including faster project approvals and stronger policies like carbon pricing and mandatory quotas for low-carbon materials in public projects. Without these measures, the pace of progress risks extending timelines by decades. Subscribe to our weekly newsletter with the link below! 🗞️