Brazilian construction tech startup Ambar announced it has raised R$204 million (c.£27m) in a Series C funding round.
The round was co-led by Brazil-based Echo Capital and Oria Capital, with participation from TPG Capital, Argonautic Ventures, and others.
Ambar was launched in 2013 and provides a number of digital solutions to the construction industry, including Building Information Modelling (BIM), workflow management tools, and a marketplace platform.
The startup plans to use the proceeds of this latest funding round to boost the digitisation arm of its business, for which it sees a strong need across Latin America.
According to its website, Ambar is currently present on 1,500 building sites across Brazil.
Bruno Balbinot, Ambar’s CEO, has high ambitions for next year: “We are going to double the number of simultaneous construction works with applied Ambar products and win 970 new clients in 2022.”
Having recently bought software company Autodoc, Balbinot and his team plan to make the IT side of their business a priority.
Image: Ambar co-founders, CEO Bruno-Balbinot and CGO Ian Fadel (Credit: Ambar)
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