Financing round lead by BitStone Capital, further investors are Atlantic Labs, renowned business angels, and Glatthaar Holding
Hamburg-based startup Aeditive today announced the closing of a €6 million ($7 million) seed funding round with lead investor BitStone Capital (Cologne, Germany). Berlin-based VC Atlantic Labs, which already invested in the pre- seed phase, is also participating in the round. Other investors include renowned business angels, including Young Sohn (ex- Samsung), Sebastian Pollok (ex-Amorelie), and Marc Stilke (ex- Immobilienscout24), as well as - as a strategic investor - Glatthaar Holding from the Black Forest, Europe's largest manufacturer of floor slabs and prefabricated basements and one of the most innovative companies in the industry.
With its robotic manufacturing systems and cloud-based planning software, Aeditive provides the industry with the central building block for a digital value chain. As a result, construction companies can better manage key challenges such as shortage of skilled labor, delayed infrastructure projects, and massive CO2 emissions.
"We will use the fresh capital to bring our technology to market. Already today, demand surpasses what we can deliver with our current team. Recruiting will be a core task for us," says Alexander Tuerk, CEO & Co-Founder of Aeditive. "We will greatly expand our team of experts to further develop our multi-layer product with its software, hardware, and material components."
Aeditive's product, the manufacturing system called Concrete Aeditor, consists of two industrial robots that fully automate the precast concrete manufacturing process - from concrete mixing to finishing. The components are planned in Aeditive's proprietary software in the cloud. The high level of automation offers a response to the industry's increasing shortage of skilled labor. Optimizations of elements are expected to save concrete and the associated CO2 emissions.
"The structure of the financing round in its mix of accomplished venture capital funds and strategic partners is ideal for Aeditive at this stage. The industrialization of the construction industry has enormous potential and we are excited to be on board and bring our extensive network to the table," said Kai Panitzki, Managing Partner at BitStone Capital.
Aeditive's business model and revenues are service-based and include the provision of hardware as well as cloud-based software and essential material components. For market entry, the startup is focusing on the €6 billion precast concrete market in Germany.
"We have been working with the Aeditive team since 2019 and are excited by the combination of unique technology and entrepreneurial drive to help an entire industry leapfrog technology with it," said Lukas Erbguth, Principal at Atlantic Labs.