Munich-based startup Capmo digitizes processes in the construction industry and has received €1.8 million in seed funding for its productivity software. The investors are the venture capital firm UVC Partners and HW Capital, the investment company of the Interhyp founders.
Construction projects that are over-budget or completed with significant defects are not uncommon. The reasons for this can be inefficient project management and inadequate construction documentation. These are problems that must be solved digitally—at least according to the Munich startup Capmo. With the corresponding app, the four founders Patrick Christ, Florian Biller, Florian Ettlinger, and Sebastian Schlecht have now raised €1.8 million. Capmo is financed by UVC Partners and the Interhyp founders.
"Construction projects could be up to 40 percent more productive. We see enormous growth potential for Capmo in this market and are pleased to support this growth with our expertise in B2B business models and our industry network,"
explained Dr. Ingo Potthof by UVC Partners.
Capmo digitizes the construction site – on the desktop, smartphone and tablet
The startup claims to place great emphasis on intuitive operation. Construction plans are digitally captured and then made available on all registered devices, such as computers, smartphones, and tablets—even offline. All those involved in the construction project are invited to Capmo, and tasks are assigned accordingly. Photos of the construction site are saved directly in the app and automatically located in the construction plan. This interplay is intended to facilitate collaboration and simplify the overview of project status and defect documentation. With this approach, Capmo has already acquired 50 customers from the construction industry since its launch in February 2018.
"Construction projects are error-prone, partly due to the lack of digitalization. Much of it is still done via fax and dictaphone. This is where Capmo comes in, providing support with new processes and technologies to ensure timelines and budgets are met."
explained Florian Biller, founder and managing director of the young company.
The app can be used by architects for private construction projects as well as by developers for large-scale projects. This currently includes, among others, the renovation of the Oberpollinger department store in downtown Munich.
