Steel producer Gerdau has invested R$60m ($10.5m) in Brazil-based construction technology developer Brasil ao Cubo in return for a 33% stake.
Founded in 2016, Brasil ao Cubo is working on off-site modular construction projects made up of elements that are not built on site, but at an industrial park with greater quality control over processes and materials.
Gerdau has been active in corporate venturing in recent months, having most recently announced an accelerator dubbed Ventures Gerdau under newly formed business unit Gerdau Next in August this year. The first cohort of civil engineering-focused startups was chosen last month from more than 230 applications.
Brasil ao Cubo had already received mentoring in business model development from from Gerdau through an accelerator in 2019. The corporate intends to enhance its innovation pipeline through the partnership with Brasil ao Cubo, using its technology to reduce waste and costs and make better use of space.
