Five million euros funding for Germany-based construction startup, Building Radar, co-founded by a former student at Cambridge Judge Business School.
Building Radar, a startup that uses artificial intelligence to identify new construction projects globally, announced that it has completed a Series-A funding round of five million euros. New investors include SIGNA Innovations, FO Holding and PropTech1 Ventures.
Building Radar will use the new funding to expand into new markets, further refine its search algorithm and optimise search results using machine learning.
The Munich-based company was co-founded in 2015 by Leopold Neuerburg, who studied on the Postgraduate Diploma in Entrepreneurship (PGDE 2013) at Cambridge Judge Business School.
By using artificial intelligence, Building Radar helps save time and provides suppliers with construction projects early on so that they can increase their project conversion rates. The firm says its software identifies 5,000 new construction projects per day from more than 100,000 different sources, and covers more than five million construction sites worldwide. Currently, 120 construction companies are using Building Radar’s digital technology.