Headed up by Kingspan's former Global Marketing Director and Director of Digital, Louise Foody, who takes up the position of Managing Director, covolve hopes to create opportunities within the sector. The venture fund is being launched with an initial €20 million in capital, projecting €100 million in revenues by 2028.
“At covolve, we are uniquely positioned to lead the digital evolution of the construction sector. From ideation to execution, covolve follows a creative, mould-breaking model, which has been developed by the team over the past five years to rapidly drive digital adoption across the industry. We are actively tackling the largest challenges in our sector, prioritising efficiency and effectiveness to drive value, while delivering on a shared vision for a viable and sustainable net zero energy future through decarbonisation projects,” says Foody.
“With direct access to Kingspan’s global customer base, and its ecosystem of more than 100,000 people, covolve is fortunate to have the continued support and investment of a company that has generated over €8.3 billion in revenue across Europe, the Americas and several other countries. At Kingspan, the business model has always been about recognising and embracing new and exciting opportunities and with covolve, we are going one step further, creating a mould-breaking accelerator in the digital space,” she adds.
covolve was launched at the inaugural Hackathon at Ikon, Kingspan’s global innovation centre in Kingscourt, Ireland.
Lead image: Louise Foody, Managing Director of covolve. Photo: Uncredited.