Cosuno receives 30 million US dollars

The company wants to digitize the construction industry - and make construction projects more efficient and cheaper in the process.

The Berlin-based start-up Cosuno has raised 30 million US dollars as part of a Series B financing round. The financing round was led by investment firm Avenir Growth. Spark Capital and Cherry Ventures also contributed money. The two companies led Cosuno's Series A round six months ago. With the latest financing, the company has now reached a valuation of 150 million US dollars.

Cosuno intends to use the investment to expand into new European markets. The start-up also wants to push ahead with product development. Cosuno has 140 employees and an office in Berlin-Mitte. The company has set itself the goal of digitizing the construction industry. It wants to make construction projects more efficient and cost-effective.

According to Cosuno, the construction industry is one of the least digitalized sectors in the world. The start-up's software is now designed to ensure efficient and transparent collaboration between all people involved in construction projects. The key processes should be able to be mapped digitally: from planning to payment. This would allow customers to involve subcontractors in the planning process at an early stage, find the right prices and pay more quickly using the software. According to the company, the software has already processed a volume of four billion US dollars in the construction context since its market launch.