Converge Secures $22M in Funding to Green Concrete Industry
Deal News | May 21, 2025 | OGCI Climate Investments LLP
Converge, a company aiming to decarbonize the concrete industry using artificial intelligence (AI), has successfully raised $22 million in a funding round led by the ABN AMRO Sustainable Impact Fund. This strategic investment illustrates ABN AMRO's commitment to sustainability and innovation within the construction sector. The investment will enable Converge to advance its AI technology, facilitating a significant reduction in carbon emissions associated with concrete production, a major contributor to global CO2 emissions. The round saw contributions from other investors including OGCI Climate Investments LLP, highlighting the growing interest in sustainable solutions across the industry.
Sectors
- Construction Technology
- Sustainable Investment
Geography
- United Kingdom – The article mentions London, UK as a relevant location for the companies involved.
- Netherlands – ABN AMRO, leading the funding round, is based in the Netherlands.
Industry
- Construction Technology – The article focuses on Converge's use of AI to innovate within the concrete industry, a key area of construction technology.
- Sustainable Investment – Both ABN AMRO and OGCI Climate Investments are involved in funding sustainable technologies, placing this article firmly within the sustainable investment sector.
Financials
- 22,000,000 – The total amount raised by Converge in this funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Converge | Target Company | Company | A company focused on reducing carbon emissions in the concrete industry using AI. |
| ABN AMRO Sustainable Impact Fund | Lead Investor | Company | The fund leading the $22M investment round, focusing on sustainable projects. |
| OGCI Climate Investments LLP | Investor | Company | A participant in the funding round, focusing on investments in climate-positive technologies. |