011h, a next-generation construction company based in Barcelona, announced on Friday that it had secured €25 million in a Series A funding round led by Redalpine with participation from Seaya Andromeda and Breega.
Aldea Ventures and the company’s previous investors, including Giuseppe Zocco, Foundamental and A/O Proptech, also participated.
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Beatriz Gonzalez, Founding Partner of Seaya, said, “This investment reinforces Seaya Andromeda’s commitment to addressing global sustainability challenges through technology, and our continued support for exceptional, mission-driven founders who seek growth. long term sustainable.
Use of funds
011h says the funding will help it grow its digital platform and build system, as well as grow its team and strengthen its network of partners. The company also plans to expand its operations beyond Spain in the coming years.
Jose Ojeda, co-founder and COO of 011h, says, “We have already made so much progress in designing and building carbon neutral buildings and creating a sustainable world. It’s only 2022, yet we’re already well ahead of Europe’s 2030 decarbonisation targets and close to net zero for 2050. This funding means we can accelerate our mission and scale our platform to to bring reliable, scalable, and cost-competitive construction solutions to more people.
Currently, the construction process uses artisanal methods based on manual labor and uses non-sustainable materials such as concrete and steel. As a result, residential construction has become expensive, unreliable, and difficult to scale. In fact, buildings are responsible for around 40% of global CO2 emissions.
11 a.m.: What you need to know
Founded in 2020 by a group of entrepreneurs, the Spanish company is a next-generation building platform whose mission is to accelerate the transition to a sustainable built environment.
The company uses new construction methods, such as the latest advances in design, technology and sustainability, to provide buildings that are friendly to both people and the environment.
011h digitizes the construction process to make it repeatable and scalable while incorporating sustainable, circular principles and materials – like solid wood – and preserving design flexibility.
It enables architects to construct and manage higher quality net zero buildings more reliably and cost effectively.
So far, the company has delivered one major project with Renta Corporación, a listed developer.
The building’s embodied carbon has been reduced by more than 90% compared to conventional methods and, in addition, construction times have been reduced by 35%, the company claims.
Three major projects have been reserved to start in the coming months.
Harald Nieder, General Partner of Redalpine, says: “At Redalpine, we believe there are huge opportunities in sustainability. In fact, the opportunities are such that we are not looking for marginal improvements to the status quo. We are looking for teams that aim to have a real impact worthy of the global challenges we face. Construction is both one of the least sustainable and least digital industries and the 011h vision is exactly what we were looking to support. With a strong background and digital expertise, the team is rethinking the construction industry from the ground up, implementing efficient and scalable construction processes, end-to-end across a supply chain. sustainable and data-driven procurement. We are incredibly excited to be on this journey together.
Ben Marrel, co-founder and CEO of Breega, concludes: “With their exceptional innovation, drive and commitment to the future of our planet, the 011h team are pioneers helping to rebuild the construction industry. Transforming traditional practices and encouraging industry players to join them to pave the way for a more efficient, greener and more sustainable future. Breega is very proud to support 011h in this historic Series A round.”
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