Construyo – the ConTech startup revolutionising the construction industry with its holistic project management service – has raised €2million in Seed funding from Talis Capital to further develop its unique platform.
Founded in 2018 by entrepreneurs Leonhard Jeub and Fabian Müller, Construyo’s mission is to bring the construction industry into the 21st Century; to take the hassle, intransparency and cost out of renovating and building properties.
Through the company’s network of trusted partners and its bespoke management platform, every stage of the project from quotes to contracts, designs, plans and engineering certificates can be accessed in one single, secure place, by everyone involved.
This provides a greater level of transparency and connects the different stakeholders, allowing them to more easily communicate with one another. The benefits include fewer delays, lower costs, including those associated with building work overrunning, and more efficient project management.
This is set to become even more important as the impact of the coronavirus plays out on the construction industry, with an increased focus on building homes as efficiently as possible.
How Construyo works
A dedicated Construyo project consultant guides homeowners and developers through the early stages of the process, working with them to understand what work is needed and which services will support these plans. The platform’s partners of architects and engineers then work directly with the customer to complete the planning of the project with the support of Construyo’s construction experts.
By providing a source of regular business for its partners, and handling the early project stages on their behalf, Construyo and these partners are able to offer highly competitive, transparent quotes with realistic, agreed timeframes. By having control and oversight at an early stage also means fewer delays occur further down the line.
Partners are required to apply to join the platform and must pass a detailed vetting process to become a member. This assures the quality of all Construyo architects and engineers and takes the burden of choice from the builder.
Leonhard Jeub, founder of Construyo, said: “While large industries like manufacturing and agriculture saw huge productivity increases due to digitisation, the construction industry works largely how it’s always done. Over the past 20 years, it’s seen just a 20% increase in efficiency1 and, in such a digital era, it’s just no longer fit for purpose. Building and renovating residential properties is unnecessarily complex, inefficient and expensive. We’ve created a service that cuts these unnecessary costs, increases efficiency and provides the kind of service customers and partners have come to expect from modern businesses and services.”
Fabian Mueller, founder of Construyo, said: “For partners, Construyo provides a collaboration platform that centralizes communication among project participants and automates large parts of the back office work, which can take up around 30% of an architect’s time, while our data shows that for customers, using Construyo makes the process up to four times faster than going directly to an architect or engineer. It’s a win for business, it’s a win for productivity and it’s a win for efficiency for everyone involved.”
Beatrice Aliprandi, senior associate at Talis Capital said: “Leonhard and Fabian have developed a truly disruptive service that is already revolutionising how the construction industry looks and works, at a time when such ideas are needed to prepare for the ever-evolving impacts of global events. They, and their business model, are highly efficient and Construyo sits within an industry that is one of the least digitised spaces. This makes it a hugely exciting and interesting investment for us and we’re delighted to work with the founders to take the hassle and cost out of construction.”
Construyo plans to use the investment to further develop its platform and partner network and to become a fully end-to-end solution. Talis joins previous investors Florian Swoboda, founder of Liberty Ventures; Florian Leibert, founder of D2iQ, and Jan Kanieß, co-founder of Payone GmbH.
Read more on the fundraise on TechCrunch.
Appendix
1. Based on global labour-productivity growth in construction averaging 1 percent a year over the past two decades. This is in contrast with growth of 2.8 percent in the world economy and 3.6 percent in manufacturing.
