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Toronto’s Augmenta has raised $15.5 million in a seed extension round that will be used to commercialize the company’s groundbreaking design platform for the construction industry.
The company automating building design for the construction industry was recently recognized as a Top 50 Preconstruction Future Disruptor by BuiltWorlds and named in CB Insights’ 2023 AI 100 list of the world’s most promising AI startups.
With the funds raised in this seed extension, Augmenta plans to double its team over the next nine months across engineering, sales, and support.
Augmenta will also use the investment to build on the momentum that the company has achieved to date. This includes implementing commercial pilots with several electrical engineering firms that are currently participating in Augmenta’s formalized feedback program.
In the construction industry today, legacy tools and processes used for designing complex building systems like electrical, plumbing, and HVAC make it extremely difficult and time consuming to ensure designs are feasible for construction.
Time and resource pressures lead to errors that require significant rework, slowing down both design and construction, and substantially increasing risk, uncertainty, and costs for contractors and engineers – and in turn real estate developers and owners.
At a time when the industry continues to face talent and material shortages, pressure mounts due to the inherent complexity of building design. Augmenta is providing innovative new technology to solve these challenges.
Through its technology platform, Augmenta automates the entire design process for contractors and engineers, ensuring the designs they create are error-free, constructible, and optimized according to client needs. These designs are created in minutes to hours instead of weeks to months.