The construction industry is on the cusp of a transformative shift, driven by innovative technologies that promise to revolutionize how we build and manage our infrastructure. At the forefront of this change is Converge, a British startup that has just secured a €19.4 million investment round. This funding, led by ABN AMRO Sustainable Impact Fund (SIF) and supported by a consortium of impact investors, is set to accelerate the development and global scaling of Converge’s AI-powered concrete management and decarbonisation technologies.
Converge’s mission is clear: to tackle the monumental challenge of decarbonising the concrete industry. Concrete, the world’s most consumed material, is responsible for approximately 8% of global CO₂ emissions. This makes it a critical sector for reducing carbon footprints and achieving net-zero goals. Converge’s approach leverages generative and predictive AI models to optimise material usage, reduce waste, and minimise emissions. The company’s flagship platform, ConcreteDNA, integrates AI-powered predictive models, sensor-based concrete monitoring, and real-time data management to track and simulate concrete performance, optimise mix designs, and minimise inefficiencies.
Raphael Scheps, Converge’s CEO and Co-founder, underscores the significance of this investment. “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,” he says. “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.”
The new capital infusion will enable Converge to rapidly develop and scale these technologies globally. This is a pivotal moment for the construction sector, which has long been grappling with the dual challenges of sustainability and efficiency. Converge’s technologies promise to address both, offering contractors the tools to make faster, data-driven decisions that reduce embodied carbon and minimise resource waste.
Gaetano Giuffrè, SIF Investment Manager, highlights the strategic importance of supporting Converge. “Converge is driving concrete efficiency, smarter optimisation, and lower CO₂ emissions in one of the most traditional and high-impact industries,” he notes. “We’re excited to support Raphael, Gideon, and the team on their growth journey as they scale their impact and accelerate the decarbonisation of the built environment.”
The construction industry is ripe for disruption, and Converge’s innovative approach is poised to lead the charge. By integrating AI and advanced data analytics, Converge is not only enhancing the efficiency of concrete production but also paving the way for a more sustainable future. This investment round is a testament to the growing recognition of the need for sustainable practices in construction and the potential of AI to drive this transformation.
As Converge scales its technologies, the industry can expect to see a significant shift towards more efficient, data-driven construction practices. This will not only reduce the environmental impact of concrete production but also set new standards for sustainability in the construction sector. The future of construction is data-driven, and Converge is at the forefront of this revolution, shaping a more sustainable and efficient built environment.