Software company Augmenta has raised $11.75m in a seed extension funding round, which will be used to commercialise its design platform for use in the construction sector.
The seed round was led by Eclipse and included participation from Hazelview Ventures, BDC Capital’s Deep Tech Venture Fund, and Suffolk Technologies.
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To date, the total funding raised by Augmenta has reached $15.85m.
With this capital, the company plans to improve its workforce by doubling the size of its team in the next nine months.
This team will focus on engineering, sales, and support facilities.
Furthermore, the company aims to capitalise on its current momentum by initiating commercial pilots with various electrical engineering businesses involved in Augmenta’s formalised feedback program.
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By GlobalDataThe company has plans to bring its Augmenta Construction Platform to the market, specifically the Electrical System Design (ESD) module.
It is scheduled for launch in the first quarter of 2024.
Augmenta is also planning to expand into adjacent markets by developing modules for plumbing and mechanical designs.
Augmenta CEO Francesco Iorio said: “Our vision is to completely disrupt an element of the construction industry that has remained largely unchanged for decades.
“Building on the success of the ESD beta programme that is currently underway, we are very well positioned to scale these initial tests as pilots and begin generating revenue as we prepare for our expansion into adjacent markets.”
