(Alliance News) - SigmaRoc PLC on Tuesday said it has led a EUR1 million seed funding round for French construction startup Koncrete SAS.
The London-based limestone and minerals company said that its investment branch, Skreenhouse Ventures, had sought funding for the Paris-based construction technology firm.
"The investment supports efforts to digitise procurement and logistics in the building materials sector," SigmaRoc explained.
Koncrete is a French digital platform which provides live price quotes for building materials and helps coordinate supply logistics. The startup referenced more than 2,800 suppliers in its first year of business, according to SigmaRoc.
Funds raised by Skreenhouse are meant to support Koncrete's growth in France, whilst improving efficiency and data-driven logistics. Additionally, Koncrete aims to reduce carbon emissions in the construction sector by integrating recycled materials into supply chains, optimising freight transport, and cutting average transport distances.
"We are pleased to support the team in scaling a solution that aligns with our commitment to industrial innovation and sustainability," commented SigmaRoc's group ExCo Member and Head of Systems Fons Vermorken.
SigmaRoc shares were flat at 109.00 pence on Tuesday morning in London.
By Holly Munks, Alliance News reporter
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