German construction tech firm Schüttflix has raised a €45 million funding round which includes a credit line. Those involved in the round include new investors FJ Labs, DEVK Insurance and some family offices, previous backers Strabag, and the Hagedorn Group, and strategic partners IK Umwelt.
The funding will see further growth of the site bulk materials marketplace. The Gütersloh-based company says it was able to almost double its turnover in 2022 compared to the previous year to around €90 million. In addition to supply, the disposal of construction sites was introduced as a high-revenue growth area at the beginning of 2023. It will come as no surprise that the construction industry is responsible for 40 percent of all CO2 emissions as well as over 60 percent of all waste generated in Europe.
"The construction industry is under pressure to quickly leverage additional efficiencies. Our functions such as paperless delivery documentation, live tracking and the upstream price comparison portal make the processes in the value chain for construction companies much more efficient. For us, the crisis is therefore above all an opportunity. The additional capital gives us the necessary drive to make the best possible out of it," says Schüttflix CEO Christian Hülsewig.
"Our area of expertise is marketplace startups because we believe in the technologies we invest in. With Schüttflix in particular, we can support with our know-how and want to put the construction industry on a future course together. In Europe, Schüttflix is the best address for this, as the company has impressively demonstrated since its founding," says Fabrice Grinda, founding Partner of FJ Labs.