Munich-based start-up comstruct, which is driving digitalization in the construction industry, has closed a €12.5 million financing round. The round was led by global venture capital firms GV and 20VC. Within less than three years, comstruct developed from an idea in the student dormitory of the University of St. Gallen to a platform used on over 13,000 construction sites across Europe. The fresh funds will help comstruct advance its mission: to transform the construction industry by seamlessly connecting material suppliers and construction companies – and replacing inefficient, paper-based processes with automated workflows.
“Construction companies are drowning in administrative processes: mountains of delivery notes and entire rooms full of employees answering and documenting calls… I experienced this first-hand when I worked for one of the largest global concrete suppliers. At comstruct, we want to finally enable construction companies to focus on building again . Thanks to recent developments in AI, now is the perfect time to do so.” – Henric Meinhardt, CEO and Managing Director of comstruct.
comstruct integrates directly into the material suppliers’ systems and structures orders, delivery notes and invoice data. The delivery note module alone reduces processing time by over 90%. This saves an average construction company with 1,000 employees more than €500,000 per year and increases its profitability by 20%. In addition to increasing efficiency, structured data capture enables faster construction processing, less material waste and more accurate cost calculation.
“High data quality is essential for us at HOCHTIEF. Material data in particular is often unstructured due to different supplier practices – manual entry is extremely time-consuming and frustrating. comstruct has fundamentally changed this by automating these processes and at the same time taking our data quality to a new level. It’s great to see how our team can now focus on strategic initiatives that create real innovation and added value.” – Maximilian von Wedel, Strategic Project Lead Procurement ESG & Digitalization at HOCHTIEF.
comstruct’s 25-strong team consists of outstanding talents who previously worked at fast-growing companies such as FINN, Tacto, Celonis and Westwing. With fresh capital, comstruct plans to further expand the team and hire experienced specialists to achieve its ambitious growth targets. As a young company, every team member plays a crucial role in the development of the company. comstruct offers a dynamic, performance-oriented corporate culture with a significant participation program that enables employees to actively drive innovation and participate directly in the company’s success.
“The founding team of comstruct impressed us with their deep understanding of the construction industry. They combine strong competencies in sales, product and software development,” said Luna Schmid, partner at GV. “They identified key challenges in a huge market and developed a seamless solution to lead the construction industry from manual processes to modern workflows. We look forward to supporting this exceptional team on their journey.”
“Henric is exceptional – we sent him a term sheet in just four days and I flew to Munich without a change of clothes to win the deal. The construction industry is one of the largest industries that has barely been touched by AI so far. comstruct has the opportunity to fundamentally shape the entire construction industry.” – Paul Bonnet, General Partner at 20VC.
About comstruct
comstruct digitizes building material data – from delivery notes to invoices – and thereby automates central processes such as orders, invoice verification, construction site management and ESG reporting. By recording material data at the position level, the platform enables detailed performance analysis and precise quantity and price comparisons for invoice verification. Automation reduces processing time per delivery note by up to 90%, minimizes errors and significantly increases the efficiency of construction projects.
Contact: Sofya Durneva, Marketing Manager ( [email protected] )
About GV
GV supports visionary founders who are moving the world forward. We invest in life sciences, consumer, enterprise, crypto, climate and future technologies. Since its founding in 2009, GV has over $10 billion in assets under management and oversees 400 active portfolio companies in North America and Europe. GV is headquartered in the San Francisco Bay Area and has offices in Cambridge, New York and London.
About 20VC
20VC operates at the intersection of venture capital and media. Founded by Harry Stebbings, the entrepreneur behind the 20VC podcast, 20VC raised its third fund of $400 million in 2024, with a focus on seed and Series A investments. With a unique network, enormous market penetration and exceptional reach, 20VC invests specifically in visionary founders who are building category-defining companies. Investments to date include Perplexity, Linear, 11x and Captions.
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