Schüttflix, the Germany-based operator of an online platform that supplies bulk materials to building sites, raised $50m yesterday in a series A round that included construction firm Strabag.
The round was led by venture capital firm Draper Esprit and also featured HV Capital, the VC firm affiliated with publisher Holtzbrinck, in addition to VC fund Speedinvest and Schüttflix’s founders.
Founded in 2018, Schüttflix has built a digital platform which enables suppliers of raw materials like sand, grit and gravel to connect to building sites so the materials can be delivered to their sites on demand.
The cash will support a move into Austria – where Strabag is headquartered – Poland and the Czech Republic next year. The company had closed a $16.4m seed round backed by HV Capital and Speedinvest in August 2020.
Christian Hülsewig, Schüttflix’s co-founder and chief executive, said: “Following our successful expansion in the German market this year, now is the strategically right moment for us to grow in Europe.
“Government investment programmes, such as the (European Commission’s) Green Deal and the post-coronavirus recovery fund, will ensure that orders in the construction industry remain strong over the long term.”
