London-based startup Converge, which uses AI and sensors to optimize concrete curing on construction sites, has raised $22 million in funding led by ABN AMRO Sustainable Impact Fund, with support from Move Energy and PI Impact.
- Founded in 2014 by Raphael Scheps and Gideon Farrell, Converge develops AI-driven, sensor-based solutions to digitize and optimize concrete construction.
- Its flagship product, ConcreteDNA, combines wireless embedded sensors with real-time data collection and AI-powered predictions to monitor concrete strength and curing.
- According to Converge, its technology accelerates concrete curing by up to 30%, boosting productivity, minimizing waste, and lowering emissions. As concrete production contributes around 8% of global CO₂ output, the platform tackles a major industrial climate challenge.
Details of the deal
- The $22 million round was led by ABN AMRO Sustainable Impact Fund, a €500 million investment fund backed by ABN AMRO Bank. Existing investors Climate Investment (CI), TO Ventures, Force Over Mass Capital, and new investors Move Energy, PI Impact, and J-Impact also participated.
“Converge is driving concrete efficiency, smarter optimization, and lower CO₂ emissions in one of the most traditional and high-impact industries. We’re excited to support Raphael, Gideon, and the team on their growth journey as they scale their impact and accelerate the decarbonization of the built environment," claims Gaetano Giuffrè, Investment Manager of SIF.
- Converge will use the fresh capital to scale its technology globally, enhancing AI-driven concrete mix optimization and real-time monitoring to reduce carbon emissions, improve efficiency, and drive sustainability in the construction industry.
