- Augmenta has emerged from stealth mode
- Other backers were Ferguson Ventures and Whiteshell Group
- The capital infusion will be used for a variety of projects, among them the development of the Augmenta construction platform
Toronto-based Augmenta, which is automating building design for the construction industry, has secured $4.1 million in seed funding. Hazelview Ventures led the round with participation from Ferguson Ventures and Whiteshell Group Inc.
The funds will be used to accelerate the development of the Augmenta Construction Platform; launch a pilot program for the Electrical System Design module, the first of several solutions that have been built on Augmenta’s automated design platform; and grow the Augmenta team across sales, deployment and customer support.
“The construction industry continues to face major challenges due to manual design processes – and is ripe for disruption,” said Francesco Iorio, CEO and co-founder of Augmenta, in a public statement. “We are bringing a massive sea change to the industry by introducing technology that will make the transition from current manual design processes to generative design as fundamental as the shift from pen and paper to computers.”
Hazelview Ventures, a venture arm of Hazelview Investments Inc., focuses exclusively on early-stage PropTech, BuildTech, and CleanTech companies. Hazelview Investments manages CAD$11.6 billion in real estate assets and has a $4 billion development pipeline.