With $36 million Series C, Brazil’s Ambar hopes to make civil construction more efficient – TechCrunch


Brazilian construction technology startup amber Announced that it has raised a large Series C round: R $ 204 million, about $ 36 million at today’s mid-market rates.This round is with Brazil-based Echo Capital Oria CapitalWith participation from TPG Capital, Argonautic Ventures, others.

Ambar was created in 2013 with the ambition to leverage technology to make the civil engineering construction process more efficient. So far, the company has raised R $ 360 million in equity funding. That’s about $ 100 million, CEO Bruno Balbinot estimates.

This $ 100 million figure is higher than the current $ 360 million equivalent, but the exchange rates have fluctuated considerably over the last few years, so it’s not easy to figure out.And on the other hand, it’s also the company Raise Venture Debt..

Regardless of the exact aggregation, the point is that Ambar has considerable capital to carry out the plan. Balbinot told TechCrunch that startups plan to use their revenue to boost the digitalization of their business.

While Spanish-speaking Latin America drives some of the revenue, Amber is most abundant in Brazil, Barbinott said. The home country of a startup has two advantages. It is the largest market in the region and Brazilian Portuguese acts as a moat against competitors.

According to Ambar’s site, there are 467 active clients. Three of these are in the United States, but Balbinot told me that their existence has more learning experiments. In contrast, it currently exists at 1,500 construction sites across Brazil.

Ambar’s business has two sides. It is the digitization that we are currently planning to further enhance and the industrialization that some media have. Can be compared To Lego for the construction sector.

However, Ambar is not a general contractor. “Our angle is to partner with the people who build, we never build,” Barbino said in Portuguese. Amber does not simply claim to be a tech company, but supports it in unit economics, which is “much higher than the construction sector.”

Balbinot and his co-founder, Ian Fadel, have an automobile industry that is an unexpected source of inspiration. Both worked in connection with Volkswagen, so they hope to bring the same kind of process-driven approach to the construction sector.

Transforming the construction industry to make it more efficient will also make it more sustainable. By optimizing human and physical resources, Ambar is reducing waste, a major by-product of traditional construction.

This is a problem that modern investors are working on.Oria Capital B corporation, And Environment, Society, Governance (ESG) section “Oria’s portfolio aims to contribute to the key sustainable development goals proposed by the United Nations,” the site explains.

In addition, the Series C round was co-led by Echo Capital, a newly established growth fund of Ambar’s board members. Guilherme Weege, Related to the United Nations Global Compact Initiative. CEO of fashion group Grupo Malwee, he is one of the business leaders who signed the initiative. 1.5 ° C business ambition dedication.

Both funds have a success story for the portfolio that Ambar wants to emulate.Supported by Weige’s Family Office Infrastructure commerce,Recently IPO Novo Melcard segment in Sao Paulo B3 Stock Exchange..Oria Third fund of $ 100 million Funding subsequent investments Zenvia, Which Published on Nasdaq July last year.

With $36 million Series C, Brazil’s Ambar hopes to make civil construction more efficient – TechCrunch Source link With $36 million Series C, Brazil’s Ambar hopes to make civil construction more efficient – TechCrunch

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