Fundamental closes a $85 million fund for start-ups in the construction technology sector

The multi-trillion dollar construction sector is sometimes criticized for being inefficient, for not keeping up with technology, and for favoring outdated methods over digitization. However, there is a ton of evidence that things are changing, as numerous entrepreneurs are raising substantial sums of money to support the modernization of the building sector.

Jan 2, 2023 - 03:33
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Fundamental closes a $85 million fund for start-ups in the construction technology sector
Featured photo credit: Xiao Ping via pkyee.com

In the first half of 2022, venture capital (VC) funding for U.S. construction tech firms alone allegedly reached $1.3 billion, a 44% increase from the prior six months. Building Ventures recently closed a new $95 million fund for construction software and real estate firms, and Agya Ventures announced a $32 million fund. These efforts and money have all surfaced simultaneously to assist a new wave of entrepreneurs. While this was going on, Brick & Mortar Ventures introduced an early-stage accelerator dubbed the "Y Combinator of construction tech."

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Chenda Lin Research Development of Bluecore Inside.