London-based constructiontech company Converge has raised €20 million in funding.
It leverages AI models, proprietary sensor data, and advanced software capabilities to optimise concrete usage and production, reducing carbon emissions. The company’s mission is to help the construction sector build a net-zero future more efficiently through AI, sensors, and data.
ABN AMRO Sustainable Impact Fund (SIF) led the round which includes existing investor Climate Investment (CI) and Move Energy and welcomed new investors PI Impact, J-Impact, alongside other existing investors.
This investment round will accelerate Converge’s commercial growth and facilitate the development of its innovative solutions. Concrete production accounts for approximately 8 per cent of global CO₂ emissions, making it a key focus for decarbonization.
Raphael Scheps, Converge CEO and co-founder, shared: “Converge is driving groundbreaking advancements in generative and predictive AI models for material optimisation. 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.”
According to Mirjam Terhorst, partner at Move Energy: “At Move Energy, we invest in European ventures that contribute to the decarbonization of the built environment. Converge’s product suite, ConcreteDNA, helps contractors and producers reduce their carbon footprint by optimizing concrete operations and mix designs while simultaneously reducing costs.”
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