France-based construction app producer Finalcad raised $20m yesterday in a series B round co-led by Aster Capital, a venture capital firm backed by industrial groups Schneider, Alstom and Solvay.
Serena Capital and Caphorn Invest co-led the funding round. Serena Capital had previously provided €2.1m ($2.4m) in series A capital to Finalcad in 2014.
Founded in 2011, Finalcad offers mobile apps and predictive analytics to manage the construction, maintenance and remodelling of buildings. The technology is aimed at site managers, architects and owners.
The series B funding will support international growth and advance research and development into areas such as smart data analytics, artificial intelligence and augmented reality. It will also allow Finalcad to enter additional sectors, such as civil infrastructure and energy.
Jean-Marc Bally, managing partner at Aster Capital, said: “We were particularly impressed with the global mindset and international business development demonstrated by Finalcad, especially in Europe and Asia. It will be a natural fit with the global coverage of Aster Capital’s team and investment portfolio.”