Strong contech funding rounds kick off the year – Construction Dive

Dry Wall Contractor

With spring comes green — green trees, green sprouts and greenbacks — as contech firms receive millions in funding to help generate new products and post record revenues. High-profile companies like Elon Musk’s The Boring Co. and small firms alike raked in venture capital funding over the past several months. 

Read on to learn more about eight firms with successful investor rounds, ranked from highest to lowest dollar amount.

The Boring Co.

The Boring Co. hauled in a massive Series C funding round of $675 million, led by Vy Capital and Sequoia Capital, the company announced on April 20. The Pflugerville, Texas-based company wants to “solve” traffic through rapid point-to-point transportation and to dig tunnels to alleviate traffic congestion on the surface.

The Boring Co. said it will use the funds to significantly increase hiring across engineering, operations and production in order to build and scale projects like the Vegas Loop and others. It will also accelerate research and development of future products, according to the release.

Veev

San Mateo, California-based modular home builder Veev announced a $400 million Series D funding round led by Bond, with participation from LenX, Zeev Ventures, Fifth Wall Climate Tech and JLL Spark Global Ventures, the company announced in March. 

Veev uses pre-built panels to assemble homes on site in a process that emphasizes speed, sustainability and quality. The company claims that it builds homes four times faster than via traditional construction methods, according to the release.

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Source: https://www.constructiondive.com/news/strong-contech-funding-rounds-kick-off-the-year/622787/

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