Cologne's Specter Automation has raised €2.7 million in seed funds. The round is led by regional investor TechVision Fund, with participation from co-investors LBBW Venture Capital, xdeck VC, and multiple German/US angels.
Founded in 2021, Specter's SaaS and automation platform produces 3D graphical models of construction projects, running from the cloud to provide real estimates of cost, material usage and lead times.
The platform is said to result in up to 40% less "organisational effort". The construction industry ranked second last in a recent McKinsey breakdown of digital adoption rates, despite being the second largest revenue generator.
Ansgar Schleicher, TVF managing director, said: "Many industries and sectors are digitalised by now.
"In the construction industry, however, there is still a lot of room for improvement, despite the fact that this industry is heavily dependent on efficient coordination processes. Specter Automation is digitising the construction industry at the point of action – namely, at the construction site itself.
"More quality and better adherence to construction schedules while automatically documenting what's happening on site will be the result."
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