Learn about the largest financing rounds of companies dedicated to the development of software for the management of engineering and construction projects. In addition, we analyse all the details of the Ipsum round, which received $1M.
Learn about the largest financing rounds of companies dedicated to the development of software for the management of engineering and construction projects. In addition, we analyse all the details of the Ipsum round, which received $1M.
About Ipsum
Ipsum Technology, based in Santiago de Chile, is a company specialising in the development of a SaaS (Software-as-a-Service) platform to improve the management of engineering and construction projects. In August 2017, the Chilean company was recognised by CB Insights (an international website specialising in business intelligence, technology and digital trends) as one of the 100 platforms that are revolutionising the global construction sector.
Ipsum Technology's web-based system and mobile application is a virtual collaborative platform to improve coordination and planning between the different actors involved in a construction site.
Ipsum was born in 2014, year in which its founder and CEO, Franco Giaquinto, carried out an investigation in a construction site where he detected the huge room for improvement in the management of the flow of information, documents, planning and coordination issues, etc.
Ipsum closed 2017 with more than 30 clients in its portfolio and selling its Proplanner solution in 5 countries, allowing them to be present in 80 construction projects in parallel, including, for example, the Territoria megaproject in Tobalaba; Laguna de La Pirámide, the housing complex with a crystalline lagoon in Huechuraba; as well as a residential tower in Puerto Madero and a refinery in Brazil.
Ipsum closes $1M round
Chilean company Ipsum Technology has closed a $1M financing round in which Chilean fund Manutara Ventures and CEMEX Ventures, CEMEX's venture capital fund, participated.
The objective of this investment round is to continue Ipsum's expansion in Latin America, where its platform is already commercialised in Peru, Argentina, Mexico, Chile and Paraguay, with clients such as Ingevec, Echeverría Izquierdo, Flesan, Graña y Montero and Caputo, among others.
Manutara Ventures is a fund specialised in investing in technology startups, with a special focus on global scale and building exits. In the words of Pablo Traub, Investment Manager at Manutara Ventures, the fund seeks to "empower and generate the necessary metrics to transform these companies into relevant players in each of their categories, which, in a process of international expansion that inserts them in a global context, facilitates the subsequent investment of world-class funds and the construction of relevant exits".
In terms of CEMEX VenturesCEMEX, an open innovation and corporate venture capital entity that CEMEX launched in 2017, seeks solutions that help solve the main challenges of the construction ecosystem. With this round of Ipsum, the fund is making its first investment in Chile. Gonzalo Galindo, CEO of CEMEX Ventures, says: "We decided to invest in Ipsum, as it is a startup that offers solutions to several of the challenges facing the construction industry today. We value very positively how through Lean-BIM technologies it manages to improve coordination and planning between the actors involved in construction. Startups like this are indispensable elements in our investment portfolio".
Top Rounds in Engineering and Project Software
| PROGRAMME | Strategic Action Digital Economy and Society (AEESD) |
|---|---|
| PUBLIC BODY | Ministry of Economy, Industry and Competitiveness. |
| BENEFICIARIES | For companies incorporated before 01/01/2014* and economic interest groupings. |
| PURPOSE OF THE PROGRAMME | The aid under this sub-programme is aimed at promoting technologies with a low level of maturity and a high potential for transforming the ICT sector through the implementation of high-risk technological projects. |
| CHARACTERISTICS OF THE AID | a) The projects must be carried out in the individual modality, with the conditions indicated in the order establishing the regulatory bases for these aids. b) Projects with a budget of more than 1,000,000 euros must have subcontracts for an amount of at least 25 per cent of the budget submitted. Research organisations have to participate as subcontractors. |
| TYPES OF AID | a) Up to a maximum of 50% SME grant of the bankable budget depending on the score obtained by the project. b) Financing of up to 100% of the financeable amount with loans of 5 years repayment and 2 years grace period with an interest rate of 0 %. |
| DEADLINE | CLOSED - Opening date pending |
| INFORMATION | +34 946 42 41 42 advisory@bakertilly.es |