Converge Secures $22M to Drive AI-Powered Concrete Decarbonization
Deal News | May 22, 2025 | Martlet Capital
ABN AMRO Sustainable Impact Fund (SIF) has led a $22 million investment round in Converge, a UK-based company specializing in AI-powered concrete decarbonization technologies. This significant investment aims to accelerate the commercial expansion and technological advancement of Converge's flagship platform, ConcreteDNA, which provides generative and predictive AI mix insights, real-time concrete monitoring, and data management. The funding round also saw participation from existing investors like Climate Investment and new entrants such as Move Energy. Concrete is a major contributor to global CO2 emissions, and Converge's innovations are pivotal in reducing embodied carbon and minimizing resource waste in the construction industry. With its global presence, Converge is set to enhance its contributions to a more sustainable built environment, supported by prominent figures like Raphael, the company's CEO, and Gaetano Giuffr, SIF Investment Manager. Both highlight the potential for Converge's technology to transform high-emission industries by offering practical solutions that deliver both carbon reductions and cost savings. This move reflects the commitment of all parties involved to elevating sustainability and efficiency across the construction sector.
Sectors
- Construction Technology
- Sustainable Investments
Geography
- United Kingdom – Converge is based in London, and the funding will aid their expansion and technology development internationally.
Industry
- Construction Technology – Converge develops AI-powered solutions for the construction industry, focusing on decarbonization and efficiency in concrete management.
- Sustainable Investments – The investment aligns with trends in sustainable and impact investing, aiming to reduce carbon emissions and encourage eco-friendly technologies.
Financials
- $22 million – The total amount raised in the investment round led by ABN AMRO's SIF for Converge.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Converge | Target company | Company | A UK-based leader in AI-powered concrete management and decarbonization technologies. |
| ABN AMRO Sustainable Impact Fund | Lead investor | Company | A fund focused on sustainable investments that led the recent $22M investment round for Converge. |
| Climate Investment (CI) | Existing investor | Company | A specialist decarbonization investor participating in Converge's investment round. |
| Move Energy | New investor | Company | Among the new participants supporting Converge's investment round. |
| Pi Impact | New investor | Company | A new investor involved in Converge's $22M funding round. |
| J-Impact | New investor | Company | Another new entrant in Converge’s recent funding round. |
| TO Ventures | Existing investor | Company | Previously involved with Converge and continuing investment in the latest round. |
| Force Over Mass Capital | Existing investor | Company | An existing investor further supporting Converge's growth. |