ABN AMRO Sustainable Impact Fund (SIF) announced that it has led a $22 million investment round in Converge, a UK-based leader in AI-based concrete management and decarbonization technologies. The funding round included participation from existing investors, including Climate Investment (CI), a specialist decarbonization investor, as well as new investors Move Energy, PI Impact, J-Impact, and existing investors TO Ventures, Force Over Mass Capital, and others.
This strategic deal will enable Converge to accelerate its commercial expansion and the development of its AI-powered technology platform, ConcreteDNA, in support of the shared goal of decarbonizing concrete.
This funding marks a shared commitment by the investors and Converge to accelerate the adoption of innovative and low-carbon technologies across the construction industry, helping to create a more sustainable and efficient built environment.
Value proposition: Concrete production accounts for approximately 8% of global carbon dioxide emissions, making it a key focus for decarbonization. And Converge has been at the forefront of integrating advanced technologies into the construction industry. With a global presence, its flagship platform ConcreteDNA provides a suite of solutions for generative and predictive AI mix insights, real-time concrete monitoring, and data management. And these innovations empower contractors to make faster, data-driven decisions, reduce embodied carbon, and minimize resource waste, tackling inefficiencies and environmental challenges in construction.
KEY QUOTES:
“Converge is driving concrete efficiency, smarter optimization, and lower CO₂ emissions in one of the most traditional and high-impact industries. We’re excited to support Raphael, Gideon, and the team on their growth journey as they scale their impact and accelerate the decarbonization of the built environment.”
Gaetano Giuffrè, SIF Investment Manager
“This investment round, led by ABN and supported by a consortium of leading impact investors, will empower Converge to accelerate decarbonisation across the concrete industry. Concrete is the world’s most consumed material and one of the hardest sectors to decarbonise. Converge is driving groundbreaking advancements in generative and predictive AI models for material optimisation to tackle this challenge. This new capital raise will enable us to rapidly develop and scale these technologies globally. We’re excited to enter this new chapter in our journey towards building a safer, more efficient, and more sustainable future for concrete.”
Raphael, Converge CEO & Co-founder
“The construction industry needs practical solutions that deliver both carbon reductions and cost savings. Converge exemplifies this dual impact through its AI-powered ConcreteDNA platform. At CI, we’re committed to accelerating technologies that can transform high-emissions industries, and our continued investment in Converge reflects our confidence in its approach.”
Mike Bishop, CI Investment Director & Board member
