Specialist decarbonisation investor OGCI Climate Investments (OGCI CI) has led an investment round of over GBP15m (US$18.9m) for UK-based technology company Converge. Converge uses AI and reality capture devices to make construction more efficient, safe and sustainable. Its flagship AI platform – ConstructionDNA – is powered by real-time data from reality capture devices embedded throughout the construction site. By measuring elements such as concrete performance, structural behaviour and construction logistics, it can help enable optimisation and decarbonisation across the entire construction process.
 
ConstructionDNA’s AI-based concrete module is being used by world-leading contractors and ready-mix concrete suppliers to predict when concrete will reach strength with up to 95 per cent confidence, speeding up build time by as much as 30 per cent and empowering the transition to carbon efficient concretes. The technology enables ready-mix suppliers to reliably and safely optimise their concrete mix designs to significantly reduce greenhouse gas (GHG) emissions.
 
Using OGCI CI’s mission-aligned series A preferred stock financing, Converge is aiming to reduce the average cement content in concrete by around 15 per cent. “Since 2016 Converge has been developing and scaling innovative solutions to power the digital transformation of the construction industry,” said Raphael Scheps, co-founder and CEO, Converge. “Together, we will drive transformative progress in the decarbonisation of the sector, effectively bending the cost and carbon curve simultaneously, and offering products that will be “must haves” as stakeholders demand sustainable solutions to build the future.”