011h Raises €25M in Series A Funding

011h, a Barcelona, Spain-based provider of a building platform to accelerate the transition to a sustainable built environment, raised €25M in Series A funding.

The round was led by Redalpine, with participation from Seaya Andromeda, Breega, Aldea Ventures, Giuseppe Zocco, Foundamental and A/O Proptech.

The company intends to use the funds to further develop its digital platform and building system, as well as grow its team and strengthen its network of partners.

Led by CEO Lucas Carné and COO Jose Ojeda, 011h provides a building platform with a mission to mitigate climate change and shortage of affordable living, by standardizing and digitalizing the building process to make it repeatable and scalable, while incorporating sustainable and circular principles and materials – like mass timber – and preserving design flexibility. This enables architects, general contractors, real estate developers and investors to design, build and manage net-zero buildings in a faster, more reliable and cost efficient way.

Initially, the company will focus on projects in its home market of Spain. It will then pursue its goal of expanding in Europe, and opening the platform with global reach.

011h has delivered a major project with Renta Corporación, a publicly-traded developer.

FinSMEs

08/07/2022

Patric Hellermann, General Partner of Foundamental, says, “Since Day 0, we have been impressed with the team’s drive to change the construction industry, and we are excited to continue partnering with 011h to build the leading multi-family construction platform in Europe. The ongoing EU plans to decarbonize Europe’s building stock – while ambitious – require technology to achieve our ambitions. 011h will spearhead that decarbonization, precisely because it is becoming a truly scalable net-zero building platform.”

Beatriz Gonzalez, Founding Partner of Seaya, says, “This investment reinforces Seaya Andromeda’s commitment to addressing the global sustainability challenges through technology, and our continued support to outstanding and mission-driven founders that target long-term, sustainable growth.”

Ben Marrel, Co-founder and CEO at Breega concludes: “With their outstanding innovation, drive and commitment to the future of our planet, the 011h team are pioneers helping to rebuild the construction industry. Transforming traditional practices and encouraging industry actors to join them in paving the way to a more efficient, greener, and more sustainable future. Breega is very proud to be backing 011h in this landmark series A round.”