London-based cleantech construction technology firm Converge announced that it has raised $22 million in a new investment round, with proceeds aimed at further developing and commercially scaling its AI-based platform for decarbonizing concrete.
Building materials are a key source of global greenhouse gas emissions. Cement production, an ingredient in concrete, accounts for approximately 8% of global carbon dioxide emissions, with over 900 kg of CO2 emissions generated for every 1000 kg of material produced.
Established in 2014, Converge specializes in utilizing AI and proprietary sensor data to optimize concrete usage and production, reducing carbon emissions. The firm’s flagship ConcreteDNA platform integrates AI-powered predictive models, sensor-based concrete monitoring and real-time data management to track and simulate concrete performance, optimize mix designs, and minimize inefficiencies. The platform can help reduce waste as well as carbon emissions, the company said.
Raphael Scheps, Converge CEO & Co-founder, said:
“This investment round will empower Converge to accelerate decarbonization across the concrete industry. Concrete is the world’s most consumed material and one of the hardest sectors to decarbonize. Converge is driving groundbreaking advancements in generative and predictive AI models for material optimization to tackle this challenge. This new capital raise will enable us to rapidly develop and scale these technologies globally.”
The funding round was led by ABN AMRO Sustainable Impact Fund (SIF), with participation from existing investors including Climate Investment (CI), TO Ventures, Force Over Mass Capital and others, alongside new investors Move Energy, PI Impact, and J-Impact.
Gaetano Giuffrè, SIF Investment Manager, said:
“Converge is driving concrete efficiency, smarter optimization, and lower CO₂ emissions in one of the most traditional and high-impact industries. We’re excited to support Raphael, Gideon, and the team on their growth journey as they scale their impact and accelerate the decarbonization of the built environment.”
