Five million US dollars for Kewazo

The proptech receives money from Silicon Valley: venture capitalist True Ventures leads Kewazo's Series A financing round of five million euros.

Kewazo receives five million US dollars in its Series A financing round, led by Silicon Valley venture capitalist True Ventures, which was also involved in the seed financing round in 2018. The existing investor MIG AG, a Munich-based venture capital company that was already involved in the founding phase of Biontech, is also participating. The money brings the total amount invested in Kewazo to nine million US dollars.

The start-up develops construction robot technology such as the Liftbot freight elevator for scaffolding, which automates material transport so that scaffolding does not have to be erected manually. At the same time, data is collected and made available to customers via a platform. "With the new investment, we want to expand our robot fleet in Europe and the USA, introduce the Robot-as-a-Service (RaaS) model and enable further digital services," says Managing Director Artem Kuchukov.

"So many aspects of the construction industry can benefit immensely from robot intelligence and RaaS offerings," says True Ventures partner Puneet Agarwal. "The KEWAZO team has a strong track record and a proven solution that fills a significant need in a critical part of the industry. We are excited to fund this team."