Construction technology company Kraaft is making waves in the industry as it secures a substantial €13 million in its Series A funding round. This significant investment, led by Dawn Capital and supported by Brick & Mortar Ventures, Chalfen Ventures, Stride VC, and OSS Ventures, marks a pivotal moment for the company’s growth trajectory.
Empowering Construction Industry Through Innovation
Kraaft’s mission to scale its “super app” for the construction sector has gained momentum with this latest funding injection. The funds will be instrumental in driving product development initiatives and facilitating the company’s expansion into key markets such as the UK and Germany.
The platform serves as a bridge between field operations and office management within construction projects. By integrating interactive AI-driven tools for project planning, photo geolocation, and safety checks, Kraaft streamlines workflows and enhances overall efficiency in an industry that has traditionally been slower to adopt digital solutions.
Redefining Collaboration in Construction
Thomas Reygagne, co-founder and CEO of Kraaft, expresses excitement about partnering with investors who share their vision of empowering frontline construction workers through user-friendly and productivity-enhancing technology. He envisions a future where Kraaft redefines how construction teams collaborate on a global scale, ultimately improving working conditions while boosting productivity levels across the sector.
Despite advancements in machinery and materials used in construction projects today, Norman Fiore from Dawn Capital emphasizes that at its core, the industry relies heavily on human labor. With one in every ten individuals globally working in construction-related roles, enhancing technological innovations like Kraaft’s platform is crucial for simplifying processes and enhancing worker satisfaction.
Driving Digital Transformation in Construction
Amidst low levels of digitization within the construction sector – where companies typically allocate only 1 to 2 percent of their revenue to IT investments compared to other industries averaging 3 to 5 percent – Kraaft stands out as a beacon of innovation pushing boundaries towards digital transformation.
The successful completion of a €3.2 million Seed round back in 2023 paved the way for Kraaft to triple its user base to over 1,000 users. Furthermore, with availability now extended across five languages including English, Spanish, German, Italian, and French – aligning seamlessly with their strategic expansion aspirations – Kraaft is poised for even greater international reach.
Catering to Diverse Needs Within Construction
In response to market demands and user feedbacks from foremen praising the platform’s ease-of-use on app stores globally; Marc Nègre – co-founder & CPO at Kraaft – underscores how simplicity coupled with functionality can yield remarkable results within an industry transitioning slowly towards digital adoption.
Moreover; recent partnerships forged by Kraaft with leading European construction giants such as SAUR; NGE; SPIE CityNetworks; Ramery; Serfim; Sade; Gagneraud underscore the growing recognition among established players regarding the value proposition offered by innovative tech solutions like those provided by Kraaft.
As they gear up for this new phase of growth spurred by their latest funding infusion; stakeholders anticipate groundbreaking developments within not only revolutionizing how tasks are executed within constructions but also potentially transforming overarching work culture dynamics shaping modern-day work environments globally.
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