Updates: The funding amount has been updated
Hubble, a startup that aims to automate construction processes, has raised US$3.6 million in a Series A funding round led by B2B-focussed venture capital firm Tin Men Capital, according to a company statement.
Prior to this funding round, the company has been self-funding its business.
With this latest investment, the Singapore-based company has expressed plans to further scale into different regions in Southeast Asia.
Construction is a large market, and what was long seen as a slow-moving and manual sector, is now finally beginning to digitise rapidly.
By embracing technologies such as data, building information modelling (BIM), smart materials, digital twins, and collaboration platforms, the industry is slowly gearing up to combat infrastructure challenges that are bound to arise as cities grow.
Hubble is one such tech startup which wants to move away from the traditional method of doing construction by venturing into a more efficient way.
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Through its software tools, Hubble connects everyone involved in the process such as contractors’ developers, consultants, fabricators, contractors, and facility managers all into one platform.
It improves capabilities across processes of scheduling, resource deployment, and management of productivity via easy to use dashboards and apps that are usable by both contractors’ ground personnel and head office.
The company’s primary focus is Southeast Asia, and it has already partnered with several prominent local government organisations such as Building and Construction Authority (BCA), Public Utilities Board (PUB), and Infocomm Media Development Authority (IMDA).
Southeast Asia is viewed as an emerging market with immense potential to grow, making it a good option for Hubble’s future expansion.
“Building good products is important but is of no use without market adoption,” said co-founder of Tin Men, Jeremy Tan.
“We saw that almost all the major contractors in Singapore have quickly signed on as happy clients with Hubble, including Woh Hup (one of Singapore’s largest building contractors), Jacobs (an NYSE-listed construction services firm), KKL (one of Singapore’s largest earthworks contractors and materials suppliers), and HSC Pipeline Engineering (an infrastructure specialist with a track record spanning over a quarter-century), among others. None of this would be possible without the tight-knit team that consistently and swiftly delivers under the leadership of SJ and his co-founder and CTO Peter Widjaja,” he further added.
However, Hubble is not the only company working in the construction tech space, with Vulcan Capital-backed Novade also operating in a similar area. The company raised Series B recently in mid-April this year.
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Image Credit: Hubble
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