- The deal augmented the strategic minority investment made by HeidelbergCement in May 2022
- It will help advance Giatec’s goal of lowering CO2 emissions resulting from concrete production by 400 million tons annually
Giatec, an Ottawa-based CO2-reducing technology and artificial intelligence-enabled concrete testing startup, has secured C$5 million in funding. The backer is BDC Capital’s Cleantech Practice.
The deal augmented the strategic minority investment made by HeidelbergCement in May 2022.
Giatec supports the construction industry by bringing smart testing technologies and real-time data collection to the forefront of every job site. The investment will help advance its goal of lowering CO2 emissions resulting from concrete production by 400 million tons annually.
“Giatec’s advanced suite of wireless concrete sensors, analytics capabilities, and AI-enabled software can enable a significant reduction in the use of cement, materially reducing CO2 emissions whilst also saving concrete producers, contractors and developers time and money,” said Matt Stanley, a partner in BDC Capital’s cleantech practice, in a statement. “We are excited to invest in Giatec, a leading technology company working to enable a more sustainable built world, to accelerate the development of the next generation of sensors and to scale internationally.”
BDC Capital is the investment arm of BDC, which oversees more than $3 billion.