Belgium-based fund manager AMAVI Capital, a leading pan-European PropTech investor, is delighted to announce its expansion into the Nordic region. As part of this strategic move, AMAVI Capital’s current fund, AMAVI Proptech Fund, will acquire the full portfolio of 11 companies from SF Ventures AB, a Swedish PropTech investment fund with a Nordic investment scope. This acquisition brings the total number of companies in AMAVI’s portfolio to 22, solidifying its position as a key player in the European PropTech ecosystem.
In addition to acquiring SF Ventures’ PropTech portfolio, AMAVI Capital will also partner up with the Stockholm-based team, Andreas Nordgren and Richard Lindqvist. This talented team will join AMAVI Capital to establish a dedicated Nordic branch for the group, bolstering the company’s local presence and network. This expansion signifies a significant milestone for AMAVI Capital, allowing it to broaden its geographical footprint and enhance its ability to identify and support innovative PropTech startups across Europe. This collaboration between two leading PropTech investors marks a significant step towards fostering innovation and driving sustainable growth in the European real estate technology sector.
AMAVI Capital, with its pan-European mandate, is a hands-on investor, actively supporting companies at the intersection of technology and real estate. With a deep understanding of the European property market, AMAVI Capital has successfully identified and nurtured promising PropTech ventures, driving positive change and revolutionizing the way we build, transact, use, and interact with buildings.
Andreas Nordgren and Richard Lindqvist, on the other hand, have established themselves as prominent players in the PropTech investment landscape, focusing on the Nordic region. Their portfolio includes a.o. energy optimization company Myrspoven, property management tool Pigello and AI-driven floorplan generator Laiout. With a track record of investing in early-stage PropTech companies, the team brings extensive knowledge and experience to the partnership. Their strong network within the Nordic ecosystem will be instrumental in uncovering emerging PropTech startups with high-growth potential.
Together, AMAVI Capital is committed to providing PropTech startups with the necessary capital, mentorship, and industry expertise to accelerate their growth and achieve meaningful impact. By joining forces, the two firms will enhance their ability to identify disruptive innovations, support the next generation of PropTech pioneers, and contribute to the transformation of the European real estate and construction industry.
Arne Allewaert and Frédéric Van den Weghe, Managing Partners at AMAVI Capital, commented on the expansion into the Nordics, saying: “We are thrilled to embark on this new chapter for AMAVI Capital as we expand our reach into the Nordics. The acquisition of SF Ventures’ PropTech portfolio and the establishment of our Nordic branch are significant milestones that align perfectly with our pan-European investment strategy. This strategic move enhances our capabilities to identify and support cutting-edge PropTech startups, leveraging the region’s technological advancements and sustainability drive. We are confident that AMAVI Nordics will bring added value to our investors, portfolio companies, and the broader PropTech ecosystem. Together, we look forward to driving innovation and fostering positive change in the European real estate industry.”
“We are excited to collaborate with AMAVI Capital,” commented Andreas Nordgren and Richard Lindqvist. “This partnership represents a strategic alignment of our investment philosophies and will allow us to leverage our respective strengths to unearth transformative PropTech opportunities in the Nordics and beyond. By supporting innovative startups, we aim to redefine the real estate landscape and contribute to the sustainable development of our cities.”
Today, nami, a leading multi-sensing platform and ecosystem enabler for the Internet of Things (IoT) industry, announced the close of its Series A financing round, raising $10.5 million from strategic investors including Verizon Ventures, AMAVI Capital, INSPiRE and Aconterra.
nami enables enterprise customers to rapidly deploy intelligent presence, motion, and situation-aware IoT services. The company’s full-stack platform ingests raw sensor data, augments it into actionable metadata, and uses it to trigger automation across entire IoT environment, delivering unprecedented use cases. Over the past two years, nami has developed a powerful platform for software-based sensing applications, featuring cutting-edge sensing topologies and associated intellectual property. With this new funding, nami is poised to expand its team and geographical presence to rapidly deploy its advanced digital sensing infrastructure across residential and commercial buildings on three continents.
“This funding round empowers nami to achieve our mission of building an ecosystem of AI sensors that cater to IoT players, internet service providers, insurance companies, and others across multiple verticals,” said Jean-Eudes Leroy, co-founder and CEO of nami. “Our innovative nami app brings peace of mind to families with security, safety, and wellness use cases while ensuring the utmost privacy. Additionally, our partners’ applications and dashboards utilize data from our API to enhance automation, complement their security solution and improve health outcomes in different types of environments.”
“At Verizon Ventures, we invest in companies whose innovative solutions leverage 5G and other advanced network technologies to deliver impactful new capabilities for both consumers and business customers,” said Michelle McCarthy, Managing Director at Verizon Ventures. “nami’s talented and seasoned team has laid out an impressive new vision for connected homes, transforming them into intelligent living spaces. We look forward to supporting them as they develop digital sensing infrastructure for residential and commercial buildings in Asia, Europe and North America.”
“We are thrilled to be part of the nami project, which aims to digitize walls and ceilings through non-intrusive sensing technology,” said Frédéric Van Weghe, Managing Partner at AMAVI Capital. “In the wake of the global agenda for carbon neutrality in residential and commercial buildings, the ability to deploy non-line-of-sight sensing technology across wide surfaces, detecting occupancy, is a major leap forward for the PropTech industry.”
“What a great journey to build investment foundations for nami and proactively contribute to grow its business in Japan” said Ryosuke Takatsuki, Representative Director of INSPiRE Mutualistic Symbiosis Fund. “We are very excited by our cooperation with nami in Health & Wellness space for Mimamori project in Japan. Together, we pave the way for properly aging in place thanks to the right mix of AI and IoT technologies, made easy to deploy. Just Japan itself is a target market of 26 Millions elderly households for AgeTech.”
“IoT services on motion and presence are vital to reduce the carbon footprint and to increase the safety of people in residential and commercial buildings. nami’s multi-sensing platform realizes this in a highly scalable way by using existing widely adopted technology that doesn’t require line of sight. Situation awareness of people can be a global gamechanger for many use cases including energy management, alarm detection, and elderly monitoring.”, says Ron Schuermans, founding Partner of Aconterra. “We’re thrilled to welcome nami in Aconterra’s smart building tech ecosystem and to support such an amazing team.”
About nami
nami, headquartered in Singapore, delivers AI-powered digital sensing solutions to players in the Security, Safety, HealthTech, PropTech, and Energy Optimization fields through hardware-augmented software. Two of the nami co-founders, Jean-Eudes and Jérôme Leroy, serve as active members of the Connectivity Standards Alliance (CSA), part of the steering committee of the new CSA Health & Wellness workgroup, and chair Matter’s RF Ambient Sensing Workgroup.
We are delighted to welcome Nasos Vagenas as our Fund Administration Manager. Nasos brings extensive knowledge and proficiency to the position, having accrued over a decade of experience in fund administration and financial analysis. His background includes roles as Fund Administration Officer at Tribeca Fund Management, Fund Controller at IH International Advisors, and ALM Business Analyst at AXA Bank Europe.
Nasos has a proven track record in financial analysis, budgeting, forecasting, treasury management, and cash reconciliation. As Fund Administration Manager, Nasos will oversee accounting, finance, compliance and investor reporting for our funds.
We are confident that his skills and experience will be a valuable asset to the team. Nasos holds a Master’s in Finance and Economics from Rotterdam School of Management. We look forward to the contributions he will make in his new role at AMAVI.
We are thrilled to announce our 9th investment: Heimkapital 🇩🇪 ! Heimkapital is a German tech-based Real Estate platform targeted at asset-rich but cash-poor seniors. Heimkapital enables flexible co-ownership models which let seniors tap into their home equity and use the proceeds to solve their current or future financial needs. Homeowners can sell up to 50% of their property to Heimkapital for an immediate pay-out while retaining the privilege to live in their home.
Home equity releases are particularly attractive for expensive energy renovations, which eventually benefit:
the homeowner, who can lower her/his energy bills;
Heimkapital, who reaches higher exit values;
our society, that needs to work towards net-zero energy of the current building stock by 2050.
Heimkapital’s tech solution can be white-labelled, which is particularly interesting for credit institutions that want to offer more services, especially to long-term clients (seniors).
Exciting partners and geographies
AMAVI co-leads the Series A investment round together with Volksbank and IVC. The existing investors Yabeo, the Unger Family Office and several business angels support the round. On 14 January this year, Heimkapital was provided a loan of €320M to acquire assets.
Read more on the round and what Heimkapital is up to!
Home equity releases are a great solution for homeowners to finance expensive energy renovations
Frédéric Van den Weghe
With the investment in Heimkapital, AMAVI now enters Germany, the largest real estate market in Europe
The water crisis affects billions of people around the globe. It involves flooding, droughts, scarcity, pollution and turbid water.
Only 2.5% of the global water supply is useful. Only 1.2% of that is available. Households are responsible for 10% of the total water consumption in Europe.
The real estate and construction industry plays a big role in mitigating the crisis by reusing water locally, monitoring overconsumption and densifying cities.
Why floods and droughts are the next global crisis
Extreme weather conditions are leading to water excess in some parts of the world, and severe water shortages elsewhere. And it’s only going to get worse. We’ve written this article to highlight the importance of tackling water scarcity, what PropTech can do about it, and AMAVI’s role in targeting this crucial issue.
Are we sleepwalking into a water crisis?
Scientists, environmentalists, and public agencies have long been aware of the issues. But recent news stories have alerted the public to a 21st century water crisis involving flooding, scarcity, pollution, and turbid water from sedimentation and soil erosion:
The Colorado River and its tributaries have been shrinking, affecting around 40 million people who rely on its water for drinking, agriculture, and electricity.
30 million people were affected by the deadly 2022 floods in Pakistan.
Last year’s floods in Germany, Belgium, France, the Netherlands, and Luxembourg cost 240 lives and €38bn in damage.
The ‘drying up’ of China’s Yangtze River has drastically reduced hydroelectric generation, leading to factory closures.
Walking on thin ice
Increasing population inevitably means growing demand for water. Yet here on the ‘blue planet’ fresh water is only 2.5% of the total, and most of that is locked up in glaciers and ice caps. A further 30% of that 2.5% is ground water, and only 1.2% is surface water – a tiny fraction of the H2O on the planet. We can all see rivers and reservoirs, but ground water is less visible and tends to get managed poorly.
Water levels at Lake Mead have fallen dramatically amid a record drought | NASA Earth Observatory
And even where water is plentiful, not all fresh water makes it to household taps and pipes. The public water ‘supply chain’ in Europe loses from 5% to over 50% of water abstracted.
Who’s most at risk?
Nearly 25% of the global population could face severe water shortages in the near future. In hot regions where the water supply starts off low, rising demand can quickly cause severe shortages. Qatar is heavily dependent on seawater desalination for its drinking water. In Chennai (India), the drying up of lakes recently led to violent protests.
Who are the baddies here?
At first sight, construction and real estate aren’t the worst offenders when it comes to water use. The biggest commercial users in Europe are oil and gas, agriculture, and textiles, with households responsible for 10% of total consumption.
But the water used in the construction process alone is still 3.4% of total European water consumption, and the ‘embodied water’ used for materials is significant (see right).
Refurbishment of older buildings uses less water than new construction, which can also reduce the open space where water can naturally infiltrate the soil and replenish groundwater reserves.
What about households?
Households account for 10% of the total water consumption in Europe. Only about 5% of that is for drinking and cooking, with the rest used for personal hygiene (33%), washing clothes and dishes (33%), and flushing toilets (25-30%).
The way houses are built and fitted out has a cumulative effect on water use throughout the lifecycle of the building. Energy and water savings from more efficient showers and appliances add up over the years.
Water waste has had a low profile compared to reducing carbon emissions, but it is moving quickly up the political and environmental agenda, and the public is increasingly aware of the benefits of grey water recycling systems and rainwater collection.
EMBODIED WATER IN CONSTRUCTION MATERIALS
Aluminium: 88,000 litres per ton
Cement: 3,500 to 5,000 litres per ton
Steel: 39,000 litres per ton
Copper: 590,000 litres per ton
Plastic: 187,000 litres per ton
Source: The Royal Australian Institute of Architects.
Teaming up with the best
AMAVI is already investing in best-in-class solutions to tackle the crisis.
Shayp is a tech-enabled SaaS company that’s transforming how the building sector addresses leakages and unnecessary water usage, with *real-time water flow analytics and non-invasive sensors.
Leakages can have a serious effect on an organisation’s water bill since the vast majority go unnoticed or unreported. Using machine learning techniques and unobtrusive sensors, it identifies leakages and system anomalies in real-time, and the webapp alerts staff and helps prioritise interventions, based on the gravity of the leak and the appliance causing the leak.
Shayp has helped public and private organisations save hundreds of thousands of euros, including municipalities, hospitals, offices, retailers, schools, and multi-residential real estate owners. Thanks to Shayp, the City of Brussels is now saving over 50 million litres of water per annum.
Shayp’s solution to detect water leakages
Hydraloop has designed and developed a decentralised ‘grey water’ recycling system for homes and commercial premises. These award- winning devices help save both water and energy and can be used in cities, rural areas, and off-grid, where water supply may be unreliable.
The easy-to-use appliance treats shower and bath water so it can be re-used in toilets, washing machines, and for garden irrigation. It can save up to 45% of scarce drinking water, without compromising on convenience or comfort.
Hydraloop’s patented technology won multiple accolades at the CES 2020 trade fair in Las Vegas and is sold globally through a network of 140 sales, distribution, and service partners.
What’s next?
AMAVI believes the construction and real estate sector can punch above its weight in mitigating the effects of the water crisis, with PropTech providing answers and benefits throughout the lifetime of built assets. We’ll continue to build our specialist expertise in water management, and to seek out the most promising scale-ups in this exciting field.
Just over a year ago, AMAVI Capital announced the closure of its first capital round, with more than EUR 30 million raised. On 12 July, the fund reached its next milestone, as Managing Partners Arne Allewaert and Frédéric Van den Weghe announced the closure of the final round, with the news that the AMAVI PropTech Fund stands at EUR 70 million – 10 million above its target.
A unique profile
AMAVI is a fully-independent investment fund with a pan-European footprint. As the first property technology fund in the Benelux region, and one of a handful of investors focusing solely on PropTech scale-ups in Europe, it draws its limited partners (LPs) mainly from the worlds of real estate and construction, while the presence of two institutional investors reflects the confidence of the wider market.
In its first two years AMAVI actively screened more than 750 companies and made nine investments throughout Europe. AMAVI will now expand itsportfolio to around 15 investments in innovative PropTech companies.
AMAVI knows what it takes to disrupt the largest asset class in the world: smart investment in promising scale-ups with a proven product-market fit, with an eye to the consolidation potential in a fragmented and emerging PropTech landscape.
Bridging the old and the new
An enormous gap has opened between old-school real estate and construction and the emerging PropTech movement. New technologies demand skills that the traditional industry may not possess, or are in short supply.
AMAVI bridges that gap. Its unique investor profile gives it expert insights, access to deal flow, and a distribution channel for the companies it invests in, and is mirrored in the expertise of its founders, who have backgrounds in real estate, private equity, and technology.
Over the past two years, the effects of Covid, stricter sustainability regulations, supply chain issues and inflation have all created tailwinds behind the PropTech industry. Our timing couldn’t be better.
Arne Allewaert
Fixing the pain points
In formulating the AMAVI Capital vision, Arne Allewaert and Frederic Van den Weghe identified the key challenges that are driving the PropTech sector forward and are likely to become even more relevant in the future.
AMAVI is leveraging European real estate expertise and capital to build an ecosystem that tackles these problems head-on.
What’s next
AMAVI is helping to grow and create the real estate sector of the future. It will soon be moving into new offices in Ghent (Belgium), and recently welcomed an additional investment analyst to the team. Arno Janssens joined in early June and will be pro-actively researching and mapping PropTech solutions that solve current pain points, are gaining traction, and are scalable.
To find out more about AMAVI Capital and its investment strategy, please contact us at hello@amavi.capital .
Construction and real estate accounts for an astonishing 38% of all global CO2 emissions. It’s barely digitised at all, and productivity has been declining for half a century. Technology can’t fix all these pain points overnight, but every PropTech company in our portfolio is making a significant difference.
AMAVI is proud to announce its 8th fund investment: looking at the daily newspaper headlines on drought and waterscarcity, Hydraloopoffers an urgently needed solution for a water sustainable world! The company has developed a decentralized ‘grey water’ recycling system. This easy-to-use home appliance treats shower and bath water to be re-used in toilets, washing machines and for garden irrigation. The solution allows a reduction of up to 45% of scarce drinking water, without compromising on any comfort!
It’s patented technology was elected “Best of the Best”, “Best Startup”, “Best of Innovation” and “Best Sustainable Product” at the CES 2020 trade fair in Las Vegas and is currently being sold globally through a network of 140 sales, distribution and service partners.
AMAVI Capital has led the 4,5m EUR investment round, with co-investments from The Future of Water Fund and crowdfunding through the Crowdcube platform.
We are thrilled to announce the addition of Arno Janssens to the AMAVI team as an Analyst. Arno brings a wealth of experience in the fast-paced analysis of investment opportunities and decision-making, having previously worked in the business development team at property developer ION. In this role, Arno helped the team fully allocate the commitments from ION’s second development fund towards different development opportunities across the Benelux in just two years.
Arno holds a Master’s degree in Civil Engineering from the University of Ghent (2013-2018), followed by a Master in General Management from Vlerick Business School (2018-2019), where different consultancy projects were undertaken, among others, for Katoen Natie in Houston, US.
In his new role at AMAVI, Arno will evaluate investment opportunities. His critical thinking skills, experience and his appetite for knowledge will be a great asset to the team. We are excited to have him on board and look forward to the contributions he will make in his new role.
LEKO LABS’s sustainably-sourced wood-based building materials solution able to replace up to 75% of concrete and steel used in a single building, dramatically reducing carbon footprint during construction
Wall system is highly insulating and can reduce heating and cooling needs by up to 87% whilst creating more commercially available floor space due to thinner wall requirements
New funding will be used to accelerate roll-out of LEKO LABS’s advanced software and robotics construction solution to supply finished walls across Europe
Total funding now sits at $23m
Luxembourg, 22nd February 2022. LEKO LABS, the Luxembourg based carbon negative construction company, today announces a $21 million Series A funding round.
The investment is led by urban sustainability-focused fund 2150 with participation from the Microsoft Climate Innovation Fund, Tencent, AMAVI, Rise PropTech Fund, Extantia and Freigeist. The total footprint of real estate developed, built or managed by LEKO LABS’s new investor base totals approximately 500 million sq ft., which corresponds to an area the size of Manhattan.
Former Lilium CCO Dr. Remo Gerber also joins the company as CEO, with current CEO and founder Francois Cordier reverting to the CTO role with the focus of furthering its groundbreaking sustainable building materials, robotics and software development.
LEKO LABS has developed a novel wall and floor system based entirely on wood and wood fibre, which is capable of replacing up 75% of concrete and steel currently used in constructing a single building. In incorporating engineered wood and a fully circular manufacturing process, the system provides not only a sustainable approach to building but superior insulation properties with thinner walls, enabling up to 10% more floor space for a given building.
The technology can be used for buildings up to 100m tall and multiple developments are in completion to date in its Benelux home market, from homes to office buildings, data-centres and beyond. The wall system is also highly insulating and can reduce heating and cooling needs of a building by up to 87% compared to today’s standards, whilst potentially enabling buildings to remain carbon neutral over their entire lifetime.
LEKO LABS’s software platform calculates and optimises thermal, acoustic and static properties of the buildings, resolving moisture and noise problems typically associated with wooden buildings. Its algorithm optimizes each building reducing wood usage vs traditional builds by up to 50%, making best use of the precious natural resource.
By introducing an automotive style, robotics driven approach to the manufacturing of buildings, more can be delivered in much shorter time and at higher quality in comparison to traditional construction approaches. This benefits not only construction companies but also workers able to perform their duties in a safe and clean environment.
The Series A funding is one of the most substantial capital raises in the sustainable building sector in Europe, an area for a long time underfunded by venture capital investments. This is especially important considering 39% of global greenhouse gas emissions come from housing with one third of that from raw materials production of concrete and steel and two thirds from heating and cooling our buildings. The new funding will enable LEKO LABS to scale its advanced software and robotics construction solution throughout Europe including Germany, the Nordics and the UK, supplying finished walls from its factory in Luxembourg.
Francois Cordier, CTO and Founder at LEKO LABS: “I’m delighted to welcome Remo as our new CEO and our new investors to help deliver our vision towards a more sustainable building sector. Together we have a strong shot on the goal of reducing global greenhouse gas emissions in 2040 by 1% using the LEKO LABS advanced building technology. His experience in scaling companies and capitalising them will be instrumental for the success of the company.”
Dr. Remo Gerber, CEO at LEKO LABS: “I could not be more excited to join the journey with Francois and the entire LEKO LABS team, it’s such an important and critical mission. We are making a difference today, each of our walls saves several tons of CO2 here and now. By scaling up our solution with automotive robotics we will achieve global impact in the coming years.”
The investor group was led by urban sustainability technology VC fund 2150, who closed their first $310 million fund in October 2021. The fund’s mission is to invest in technologies addressing the planet’s most pressing climate change problems, and they have in particular identified the built environment as a key challenge.
Christian Hernandez, co-founder at 2150 said: “The LEKO LABS team is on an important mission to help decarbonise the built environment with a fundamentally different and scalable approach. We are delighted to partner with LEKO LABS bringing our climate tech and strong European property investor basis to play and help adoption of a groundbreaking new approach.”
LEKO LABS’s 5L walls are commercially attractive to build with, and when combined with inbuilt insulation can reduce wall thickness by up to 40%, creating more property floor space. Furthermore, usage of the solution can enable total building times to be shrunk by up to 50%, reducing noise and waste at construction sites to a minimum. Thus, overall building with LEKO LABS’s system is close to carbon neutral with a commercially superior solution.
The system of LEKO LABS can be applied in most building settings from single family homes, to apartment or office buildings and industrial warehouses or data centers. It is a commercially attractive solution with one of the lowest carbon footprints possible from the moment the building is completed and throughout the lifetime with low heating and cooling emissions. So future residents can sleep in peace knowing they built sustainable and corporate organisations have a real solution to help achieve their Net Zero goals.
About LEKO LABS:
LEKO LABS S.A. was founded by Francois Cordier in 2017 with a vision to accelerate the adoption of sustainable building materials in the built environment. It has grown to over 30 FTE in Luxembourg and has recently opened a subsidiary in Switzerland and will soon open an office in London. It has developed a groundbreaking wood composite structure capable of replacing concrete bearing walls in any type of building up to 100m tall. Buildings are delivered today in its home BENELUX market, saving thousands of tons of CO2 and expansion is planned across Europe in 2022.
Cintoo receives funding to accelerate growth from AMAVI Capital, Armilar Venture Partners, Accenture Ventures, UI Investissement and Region Sud Investissement
Cintoo has today announced a Series A investment of 5.3 million € ($6 million) from five international investors – AMAVI Capital, Armilar Venture Partners, Accenture Ventures, UI Investissement and Region Sud Investissement.
Cintoo’s SaaS platform, Cintoo Cloud, leverages Reality Data in the cloud and is at the convergence of Reality Capture and Digital Twins. Reality Capture devices, such as laser scanners or drones, are frequently used to capture the as-built conditions of a physical space, such as a building construction area, a factory or a plant, so that teams working on retrofit, construction or simulation projects can do their design or control work remotely without needing to visit the space. However, making such gigantic Reality Capture data accessible to stakeholders via the cloud has always been a challenge. Cintoo’s multimodal, hardware agnostic platform is the response to this challenge. Cintoo Cloud uses a unique, patent-pending, core point cloud-to-mesh engine, and interconnects with BIM and Digital Twin platforms to bridge the gap between the physical and digital worlds. Accurate data of buildings, factories, plants, or any other industrial asset, becomes accessible and easily interpretable, by experts and non-experts alike, from a simple web browser from anywhere at any time, using Cintoo’s 3D mesh streaming technology.
With approximately three billion square feet of laser scan data uploaded so far, spanning 4,000 projects, Cintoo Cloud is currently being used by more than 20,000 users in BIM, construction and Industry 4.0 organizations across the US, Canada, Europe and Australasia as a unique source of trustful Reality Data to better manage and collaborate on both brownfield and greenfield projects, saving significant resources, time and money.
The investment will be used to expand Cintoo Cloud’s capabilities to meet the needs of Industry 4.0 and BIM and construction customers, developing next generation features for asset management, progress monitoring and industrial metaverse exploration. This investment will also help Cintoo further expand its business in North America, Europe and APAC.
The Series A funding was co-led by AMAVI Capital and Armilar Venture Partners, and counted with a participation from Accenture Ventures, as well as from Cintoo’s prior Investors, UI Investissement and Region Sud Investissement, who continue to support the business.
Dominique Pouliquen, Cintoo’s CEO, explained: “Our mission is to become the world leader in cloud-based solutions to empower Reality Data on-demand and we’ve made significant in-roads since we launched Cintoo Cloud in 2018.
“We’re very happy to bring AMAVI, Armilar and Accenture Ventures on board. Securing this investment from top European and US VCs, together with the continuous support from UI Investissement and Region Sud Investissement, is testament to the strength of the platform, our team’s industry experience, our technical expertise and our vision for Cintoo. With this funding and support, we can quickly start to turn this vision into reality.”
Frédéric Van den Weghe, Managing Partner at AMAVI Capital said: “Supporting companies like Cintoo is why we founded AMAVI: as a dedicated investor in companies making the built world more efficient and sustainable, Cintoo ticks a lot of boxes. With its Cintoo Cloud product it makes construction teams across the globe collaborate more efficiently, remote and in real-time. For industry 4.0 applications, it is the platform where digital twin data comes together and is enriched with IoT and AI data to become the dashboard of the factories of the future. Its blue chip customers base, including a.o. leading car manufactures and engineering firms, and more than 20,000 active users on the platform are a clear sign of the value add the Cintoo product brings.”
Pedro Ribeiro Santos, Partner at Armilar Venture Partners commented: “As much as cloud computing keeps bringing innovation and openness to many industries, there are a few areas in which it has been more challenging to benefit from it, particularly in applications that need to handle huge amounts of data in real time while offering smooth user experiences. 3D Reality Data is one of those areas, that has stayed ripe for disruption until now. Cintoo’s technology, the result of years of R&D, makes it possible, making the data accessible to anyone and opening the doors to new uses of that data – and making Cintoo an excellent fit for Armilar’s TechTransfer Fund.”
Aurélie Viaux, Investment Director at UI Investissement added: “We have been supporting Cintoo and its management team since its seed round in 2017 and we are very proud to participate today in this new stage of the company’s development, alongside major European investors. This Series A round will enable Cintoo to continue its international development and to establish itself as the world leader in cloud-based solutions to empower reality data on demand. This is a fundamental solution for the future development of the BIM and Industry 4.0 markets.”
About Cintoo Cintoo is a French and US startup, established in 2013 to find a solution for managing terabytes of Reality Capture data in the cloud for Architecture, Engineering, Construction, and Industry 4.0 businesses. The company launched its SaaS platform, Cintoo Cloud, in 2018, which uses its patent-pending, core point cloud-to-mesh engine to stream huge 3D data using any PC, laptop or tablet with a web browser. Email contact@cintoo.com or visit www.cintoo.com
About AMAVI Capital AMAVI PropTech Fund is a pan-European investment fund established to support growth of the leading and most promising companies active in the PropTech industry. AMAVI aims to create a bridge between the traditional real estate and construction industry and the most groundbreaking European PropTech companies, by leveraging its combined expertise and network from the real estate, technology and private equity industry. For more information, please visit https://amavi.capital/
About Armilar Venture Partners Armilar Venture Partners is Portugal’s leading VC funds manager. An independent VC with a history of more than 20 years, a high-performance track record and an international footprint, Armilar is a deep-tech investor, with a focus on early-stage technology-based companies where data, digitisation and connectivity play a central role. For more information, please visit www.armilar.com. The Armilar Venture Partners TechTransfer Fund is supported by InnovFin Equity, with the financial backing of the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (EFSI) set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing. The fund is also co-financed by Fundo de Capital e Quase Capital (FC&QC), managed by Banco Português de Fomento, S.A.
About Accenture Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 674,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at accenture.com
About UI Investissement UI Investissement is an independent Private Equity firm specializing in the development of unlisted French companies. For over 50 years, UI has been committed to work alongside managers and leaders of growing start-ups, SMEs and medium-sized companies (ETIs) to create and develop economically successful companies in the long term. UI Investissement manages nearly €1.5 billion in assets and had invested with more than 300 business managers in essential sectors such as healthcare, agribusiness, business services and industry. Growth and Buyout capital, the historical core of UI’s activity, represents more than two-thirds of the AUM and its more than fifty companies in our portfolio that can rely on UI’s operational expertise and methodological tools. The management teams and investment vehicles dedicated to venture capital and distressed investments support companies throughout their life cycle and contribute to the economic dynamism. Today, UI has more than 70 professionals and 13 regional offices across France. Visit www.ui-investissement.co
About Region Sud Investissement Région Sud Investissement is the regional investment company created in 2010 by the South Region to support the emergence and development of growth companies. Région Sud Investissement, with a capital of €134m, receives 42% of its capacity from the European Union through the ERDF fund. Région Sud Investissement is advised by Turenne Groupe for the management of its equity investments. Visit www.regionsudinvestissement.com
