News Summary

Munich-based startup Comstruct has secured a €12.5 million funding round, equivalent to $13 million, led by GV and 20VC, with participation from existing investors Booom and Puzzle Ventures. Comstruct aims to revolutionize the construction industry by offering a digital procurement platform specifically for construction materials. Traditionally, material orders have been managed through phone calls, physical delivery notes, and invoices, creating inefficiencies. Comstruct’s platform unifies these processes by integrating with various suppliers using machine learning, allowing for seamless ordering, digital delivery receipts, invoice reconciliation, and ESG reporting. Since its inception, Comstruct has integrated 800 material suppliers and boasts significant market coverage in Switzerland, with ongoing expansion into Germany, Austria, and other European countries. The platform is already employed in major projects, such as the Gotthard Tunnel in Switzerland, to streamline material management.