A tech start-up that aims to revolutionise the way construction materials are purchased has raised circa £1m from investors. BuildBuddy, co-founded by Jamie Menzies and Alix Baldwin, is a web platform that uses artificial intelligence technology to find the best construction materials at the best price for the UK’s 330,000 SME builders. The website works in a similar way to Skyscanner, scouring the web for the best deals with the most suitable delivery terms, with builders saving as much as 14% on a typical order.
East Lothian-born Menzies came up with concept after experiencing frustrations with the cost of building materials while managing his own construction company, Zebra Property Group, which has offices in Edinburgh and London. He teamed up with Baldwin, a managing director of price comparison site Funeral Choice, to co-found BuildBuddy, and the duo have now raised seed capital to support wider roll out. They have also recruited former Skyscanner executive and East Lothian-based tech expert Shane Corstophine as a board advisor.
Menzies said: “Raising £1m in seed capital is a huge milestone for BuildBuddy and reflects the confidence investors have in our concept […]. Just as Skyscanner has helped travellers find the best deals on flights, BuildBuddy will streamline the process of purchasing construction materials, allowing the UK’s 330,000 SME builders to find the best goods at the best price […]. BuildBuddy is an incredibly exciting concept that has the potential to revolutionise the construction industry.”
Corstorphine added: “BuildBuddy is an ingenious idea and – as this landmark investment shows – Jamie and Alix are exceptionally well-equipped to execute it.”
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