Hazelview Investments led the seed-funding in PropTech company Augmenta. The Toronto-based software company focuses on reducing waste, increasing sustainability and improving efficiency in the construction stage through automation in construction planning. The first of several modules, Augmenta has developed an automated design tool for electrical engineers and contractors to create fully constructible, code-compliant designs for electrical raceway routing. Called the “Augmenta Construction Platform,” it is designed to reduce turn-around times, costs and risks, and ensure materials are not wasted.
“Our partnership with Augmenta is another example of Hazelview’s commitment to seeking innovative solutions to improve efficiency and sustainability in the real estate industry,” said Claudia Reich Floyd, a Managing Director and head of Hazelview Investments’ Germany office, in announcing the agreement.
The investment in Augmenta is made by Hazelview Ventures, a venture capital business and a subsidiary of Hazelview Investments. This is Hazelview Ventures’ third investment in an innovative early-stage PropTech, BuildTech and CleanTech company.
Platform will reduce costs, risks and waste
The Augmenta Construction Platform introduces so-called generative design as a solution to these challenges, offering significant advantages in the implementation of sustainability or ESG (Environmental, Social and Governance) factors. There are many opportunities for automation in the construction industry, Reich Floyd explains: “The industry currently faces many challenges, including manual design, which has a high margin of error, imposes risk as well as costs on contractors, and is incredibly wasteful.”
Hazelview is a progressive company at the forefront of change in the construction industry,” said Francesco Iorio, co-founder and CEO of Augmenta. “They immediately understood both the cost and ESG benefits associated with the Augmenta Construction Platform – not just for their own company, but for developers across the board.”
About Hazelview Investments
Hazelview Investments is an active investor, owner and manager of global real estate assets dedicated to creating value for people and places. Hazelview employs a global investment and asset management team of more than 80 people across its offices in Toronto, New York, Hong Kong and Hamburg and manages CAD 11.6 billion (approximately GBP 6.75 billion, as of April 30, 2022) in real estate assets. For more information, please visit the website: www.hazelview.com.
About Augmenta
Augmenta is a software company that is bringing a new level of efficiency to the construction industry by automating the construction design process. The Augmenta Construction Platform (ACP), is developed to ensure buildings are always designed to be energy efficient, use sustainable materials, are built more safely, and create less waste during construction. For more information, visit www.augmenta.ai.
