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2024 Top 50 Venture & Investment Deals

Welcome to the 2024 Top 50 Venture & Investment Deals List!

The list highlights the top publicly disclosed private capital deals driving technology adoption in the built environment: venture capital (VC) funding rounds in the three Venture & Investments' technology categories (construction tech, building tech, and infrastructure tech), industry tech company mergers and acquisitions (M&A), and VC fund launches.

If you'd like your company to be featured on future top lists, check out our applications page for more information on how to apply!

The 2024 Top 50 Venture & Investment Deals List is part of our ongoing effort to provide industry-leading coverage and analysis on the built environment capital markets.

Recently, we released the 2024 Annual Venture & Investments Report, providing a point-in-time analysis of the industry's innovation economy and investment landscape. Members can view the report by using the links provided. If you are interested in joining our growing member network, email research@builtworlds.com or sales@builtworlds.com for more details, or use this link to learn more.

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Category:

Construction Tech VC Deals

Applied_Intuition_Logo.svg

1. Applied Intuition

Raise: $250 million | Series E | March 12

Lead Investor(s): Porsche Investments Management. Lux Capital

Other Investor(s): Andreessen Horowitz, General Catalyst, individuals

Headquarters: Mountain View, California, United States

Company Description: Provides AI-powered ADAS/AD software toolchain, vehicle platform, and autonomy stack for heavy construction vehicles.

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2. osapiens

Raise: $120 million | Series B | July 29

Lead Investor(s): Growth Equity at Goldman Sachs Alternatives

Other Investor(s): Armira Growth

Headquarters: Mannheim, Germany

Company Description: osapiens develops Software-as-a-Service solutions that uses AI to enable global companies from a wide range of industries (including construction) to benchmark ESG standards along the supply chain.

fingercheck

3. Fingercheck

Raise: $115 million | Venture | October 30

Lead Investor(s): StepStone Group

Other Investor(s): Columbus Capital

Headquarters: New York, New York, United States

Company Description: Automated HR and payroll software with applications in the construction industry.

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4. Path Robotics

Raise: $100 million | Venture | October 15

Lead Investor(s): Matter Venture Partners, Drive Capital

Other Investor(s): Yamaha Ventures, Taiwania Capital, MediaTek, Catapult Ventures, Gaingels, Addition, Tiger Global, Basis Set

Headquarters: Columbus, Ohio, United States

Company Description: AI/ML-enabled welding robots to automate repetitive tasks on-site.

instagrid

5. Instagrid

Raise: $95 million | Series C | January 23

Lead Investor(s): Teachers’ Venture Growth

Other Investor(s): Morgan Stanley Investment Management’s (MSIM) 1GT, Energy Impact Partners, SET Ventures, blueworld.group, Hightech Gründerfonds

Headquarters: Ludwigsburg, Germany

Company Description: Portable energy generator for jobsites.

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6. HammerTech

Raise: $70 million | Growth Equity | July 16

Lead Investor(s): Riverwood Capital

Other Investor(s): N/A

Headquarters: Melbourne, Australia

Company Description: Built for construction, HammerTech’s safety intelligence software platform was created to improve worker safety and solve site efficiency challenges.

neustark

7. Neustark

Raise: $69 million | Venture | June 24

Lead Investor(s): Decarbonization Partners

Other Investor(s): Blume Equity, Holcim, Siemens Financial Services, Verve Ventures, ACE Ventures

Headquarters: Berne, Switzerland

Company Description: Recycle construction and demolition waste for carbon sequestration.

prewave

8. Prewave

Raise: $67 million | Series B | June 25

Lead Investor(s): Hedosophia

Other Investor(s): Creandum, Ventech, Kompas VC, Speedinvest, Working Capital Fund

Headquarters: Vienna, Austria

Company Description: ESG compliance, tracking, and reporting software for construction supply chains.

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9. Intenseye

Raise: $64 million | Series B | February 27

Lead Investor(s): Lightspeed Venture Partners

Other Investor(s): Insight Partners, Point Nine, Air Street Capital

Headquarters: New York, New York, United States

Company Description: Workforce safety and monitoring solution using AI-enabled computer vision.

higharc

10. Higharc

Raise: $54 million | Series B | February 15

Lead Investor(s): Spark Capital, Pillar VC

Other Investor(s): SE Ventures, Fifth Wall, Starwood Capital, Standard Investments, Home Depot, Ferguson, Simpson Strong-Tie, Mulhern+Kulp Engineering, Suffolk Technologies, RXR Realty, PSP Growth, Metaprop, SC Masterfund, other individual investors

Headquarters: Raleigh-Durham, North Carolina, United States

Company Description: Cloud homebuilding project management platform providing tools for design, estimation, sales, and construction.

gm robotics

11. GrayMatter Robotics

Raise: $45 million | Series B | April 10

Lead Investor(s): Wellington Management

Other Investor(s): NGP Capital, Euclidean Capital, Advance Venture Partners, SQN Venture Partners, and other existing investors 3M Ventures, B Capital, Bow Capital, Calibrate Ventures, OCA Ventures, Swift Ventures

Headquarters: Los Angeles, California, United States

Company Description: AI-enabled smart robots for surface treatment and finishing.

coast

12. Coast (Coast Pay)

Raise: $40 million | Series B | July 18

Lead Investor(s): ICONIQ Growth

Other Investor(s): Accel, Insight Partners, Vesey Ventures, Avid Ventures, Thomvest, Synchrony

Headquarters: New York, New York, United States

Company Description: Expense and fuel management for construction and heavy vehicle fleets.

Category:

Building Tech VC Deals

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1. Scala Data Centers

Raise: $550 million | Venture | October 1

Lead Investor(s): Coatue Tactical Solutions

Other Investor(s): Investment Management Corporation of Ontario (IMCO)

Headquarters: Sao Paolo, Brazil

Company Description: Volumetric modular data center construction.

twelve logo

2. Twelve

Raise: $200 million | Series C | September 19

Lead Investor(s): TPG, Capricorn Investment Group, Pulse Fund

Other Investor(s): Alaska Airlines, DCVC, Fifth Wall

Headquarters: San Francisco, California, United States

Company Description: Transforming CO2 into building and construction materials.

1komma

3. 1KOMMA5°

Raise: €150 million | Pre-IPO | December 20

Lead Investor(s): G2 Venture Partners

Other Investor(s): 2150, Norrsken, Hamilton Lane, b2venture, Eurazeo, eCAPITAL, CalSTRS

Headquarters: Hamburg, Germany

Company Description: Clean energy systems for buildings and homes.

aira

4. Aira

Raise: €145 million | Series B | January 15

Lead Investor(s): Altor, Kinnevik, Temasek

Other Investor(s): Burda family, Collaborative Fund, Creades, Lingotto, Nesta Impact Investments, Statkraft Ventures

Headquarters: Stockholm, Sweden

Company Description: Sustainable HVAC solutions for buildings and homes.

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5. Guesty

Raise: $130 million | Venture | April 10

Lead Investor(s): KKR

Other Investor(s): Inovia Capital, Apax, MSD, Sixth Street

Headquarters: Covina, California, United States

Company Description: Management platform for rental properties.

gropyus

6. Gropyus

Raise: $109 million | Venture | October 7

Lead Investor(s): Semapa, Practical Venture Capital

Other Investor(s): Not disclosed

Headquarters: Vienna, Austria

Company Description: Vertically-integrated modular apartment buildings that are net-zero and come equipped with a building operating system.

stonal

7. Stonal

Raise: $108 million | Venture | May 7

Lead Investor(s): Aareon

Other Investor(s): Undisclosed

Headquarters: Paris, France

Company Description: Business intelligence and data management for real estate asset management.

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8. Redaptive

Raise: $100 million | Venture | October 28

Lead Investor(s): CPP Investments

Other Investor(s): Investissements RPC

Headquarters: Denver, Colorado, United States

Company Description: Redaptive is an Energy-as-a-Service provider that funds and installs energy-saving and energy-generating equipment in buildings.

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9. Watershed

Raise: $100 million | Series C | February 1

Lead Investor(s): Greenoaks

Other Investor(s): Sequoia Capital, Kleiner Perkins, Galvanize Climate Solutions

Headquarters: San Francisco, California, United States

Company Description: ESG compliance tracking and reporting software.

fortera

10. Fortera

Raise: $85 million | Venture | August 20

Lead Investor(s): Khosla Ventures, Temasek

Other Investor(s): Wollemi Capital, NOVA by Saint-Gobain, Presidio Ventures, Alumni Ventures

Headquarters: San Jose, California, United States

Company Description: Manufacturing low-carbon cement.

sublime

11. Sublime Systems

Raise: $75 million | Venture | September 18

Lead Investor(s): Holcim MAQER Ventures, CRH Ventures

Other Investor(s): N/A

Headquarters: Somerville, Massachusetts, United States

Company Description: Manufacturing low-carbon cement.

magnus metal

12. Magnus Metal

Raise: $74 million | Series B | April 18

Lead Investor(s): Entrée Capital, Target Global

Other Investor(s): Caterpillar Ventures, Tal Ventures, Deep Insight Ventures, Awz Ventures, Lumir Ventures, Discount Capital, Lip Ventures, Cresson Management, Next Gear Fund, Essentia Venture Capital

Headquarters: Kibbutz Revadim, Israel

Company Description: Magnus Metal is re-inventing metal casting with its transformative Digital Casting Technology.

Category:

Infrastructure Tech VC Deals

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1. X-Energy Reactor Company

Raise: $500 million | Series C | October 16

Lead Investor(s): Amazon

Other Investor(s): Ares Management, NGP, University of Michigan

Headquarters: Rockville, Maryland, United States

Company Description: Utility-scale nuclear energy

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2. Ascend Elements

Raise: $460 million | Later-Stage | February 20

Lead Investor(s): Decarbonization Partners

Other Investor(s): Temasek, Qatar Investment Authority (QIA), Tenaska, Alliance Resource Partners, PULSE - CMA CGM Energy Fund, BHP Ventures, Fifth Wall, Hitachi Ventures, Mirae Asset, At One Ventures, Agave Partners, Alumni Ventures

Headquarters: Westborough, Massachusetts, United States

Company Description: Energy storage recycling and production solutions.

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3. Form Energy

Raise: $405 million | Series F | October 11

Lead Investor(s): T. Rowe Price

Other Investor(s): GE Vernova,TPG Rise Climate, Breakthrough Energy Ventures (BEV), Capricorn’s Technology Impact Funds, Coatue, Energy Impact Partners (EIP), MIT’s The Engine Ventures, NGP, Temasek, GIC, Prelude Ventures, Claure Group, Gigascale Capital, Blindspot Ventures, VamosVentures

Headquarters: Somerville, Massachusetts, United States

Company Description: Energy storage manufacturing.

Electra

4. Electra

Raise: $330 million | Venture | January 17

Lead Investor(s): PGGM

Other Investor(s): Bpifrance, Eurazeo, RIVE Private Investment, SNCF group, Serena

Headquarters: Paris, France

Company Description: EV charger production and distribution.

fervo-energy

5. Fervo Energy

Raise: $255 million | Series E | December 19

Lead Investor(s): Capricorn’s Technology Impact Fund II

Other Investor(s): Breakthrough Energy Ventures, CalSTRS, Congruent Ventures, CPP Investments, DCVC, Devon Energy, Galvanize Climate Solutions, Liberty Mutual Investments, Mercuria, Sabanci Climate Ventures

Headquarters: Houston, Texas, United States

Company Description: Utility-scale geothermal energy production.

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6. Sunfire

Raise: $230 million | Series E | March 5

Lead Investor(s): LGT Private Banking

Other Investor(s): GIC, Ahren Innovation Capital, Carbon Equity, Lightrock, Planet First Partners, Carbon Direct Capital, the Amazon Climate Pledge Fund, Blue Earth Capital

Headquarters: Dresden, Germany

Company Description: Distributed clean energy solutions for the urban grid.

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7. NineDot Energy

Raise: $225 million | Venture | January 10

Lead Investor(s): Manulife Investment Management, Carlyle

Other Investor(s): N/A

Headquarters: New York, New York, United States

Company Description: Utility-scale nuclear energy

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8. Iceye

Raise: $158 million | Growth | December 18

Lead Investor(s): Solidium O

Other Investor(s): BlackRock, Seraphim, Plio Limited

Headquarters: Helsinki, Finland

Company Description: Satellite GIS/mapping.

Nscale

9. Nscale

Raise: $155 million | Series A | December 19

Lead Investor(s): Sandton Capital Partners

Other Investor(s): Kestrel, Bluesky Asset Management, Florence Capital

Headquarters: London, England, United Kingdom

Company Description: Data center construction and renewable energy.

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10. Antora Energy

Raise: $150 million | Series B | February 23

Lead Investor(s): Decarbonization Partners

Other Investor(s): Emerson Collective, GS Futures, The Nature Conservancy, and a subsidiary of NextEra Energy Resources, Trust Ventures, Lowercarbon Capital, Breakthrough Energy Ventures, BHP Ventures, Overture VC, Grok Ventures

Headquarters: Sunnyvale, California, United States

Company Description: Geothermal energy for industrial applications.

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11. Flo EV Charging

Raise: $136 million | Series E | July 14

Lead Investor(s): Export Development Canada

Other Investor(s): Caisse de dépôt et placement du Québec (CDPQ), Investissement Québec (IQ), Business Development Bank of Canada (BDC), Energy Impact Partners (EIP)  MacKinnon, Bennett & Company Inc. (MKB)

Headquarters: Quebec City, Quebec, Canada

Company Description: EV charging ecosystem for single-family houses and multi-unit residential buildings, as well as access to thousands of public charging stations across Canada.

tokamak

12. Tokamak Energy

Raise: $125 million | Venture | November 20

Lead Investor(s): East X Ventures, Lingotto Investment Management

Other Investor(s): Furukawa Electric Company, British Patient Capital, BW Group, Sabanci Climate Ventures

Headquarters: Milton, England, United Kingdom

Company Description: Tokamak Energy develops fusion technology and high-temperature superconducting magnets to deliver clean, limitless, and affordable fusion energy in the 2030s.

Category:

Technology M&A Deals

Note: this section highlights only M&A or majority recapitalization transactions that publicly disclosed an enterprise value. The vast majority of 2024 M&A activity did not disclose an enterprise value.

Matterport

Acquired by

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Matterport Acquired by CoStar

Valuation: $1.6 billion

Date: April 22

Description: CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, acquires all outstanding shares of Matterport in a cash and stock transaction valued at $5.50 per share reflecting an estimated $1.6 billion of enterprise value.

gocanvas

Acquired by

Nemetschek Group

GoCanvas Acquired by the Nemetschek Group

Valuation: $700 million

Date: June 6

Description: The Nemetschek Group acquired all shares of GoCanvas for around a 11.5x multiple on 2023 ARR of $67M, or over $700 million. This strategic acquisition aligns with Nemetschek’s mission to enhance its Build Segment, which offers subscription and SaaS products designed to simplify customers’ jobs and integrate seamlessly with other AEC/O solutions and platforms.

jobnimbus

Receives Majority Investment from

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JobNimbus Receives Majority Investment from Sumeru Equity Partners

Valuation: $330 million

Date: November 13

Description: JobNimbus, a game-changing SaaS provider for the roofing industry, announced a $330 million growth investment from Sumeru Equity Partners. The investment represents a majority recapitalization.

itus

Acquired by

Print

Itus Digital Acquired by Hexagon

Valuation: $95.6 million

Date: April 4

Description: Hexagon, a global leader in digital reality solutions, combining sensor, software and autonomous technologies, acquired Itus Digital, a Roanoke, Virginia-based provider of asset performance management (APM) software.

Category:

VC/CVC Fund Launches

dcvc

1. DCVC, Climate Fund I

Fund Size: $700 million

Date: September 30

Notable LPs: New Mexico State Investment Council. Other investors undisclosed.

Headquarters: Palo Alto, California, United States

Fund Description: The fund focuses on commer­cial­izing emerging climate tech solutions to catalyze meaningful improve­ments to established value chains, decarbonize high emitting industries, hasten the energy transition, and contribute to mitigation and adaptation efforts.

innovation endeavors

2. Innovation Endeavors, Fund V

Raise: $630 million

Date: January 25

Headquarters: Palo Alto, California, United States

Fund Description: The fund furthers Innovation Endeavors core strategy of investing in technical founders solving hard engineering and science problems to rethink large industries and solve problems that matter. The fund is especially dedicated to what the firm defines as "the physical economy."

world fund

3. World Fund, Fund I

Raise: €300 million

Date: March 22

Notable LPs: European Investment Fund (EIF), KfW Capital, Wachstumsfonds, Bpifrance, PwC Germany, NRW.BANK, Ignitis Group, UK Environment Agency Pension Fund, Wiltshire Pension Fund, Croatia's Erste Plavi, Ecosia (Europe's largest independent search engine)

Headquarters: Berlin, Germany

Company Description: World Fund is a climate tech VC investing in technologies with scalable businesses and significant emissions savings potential. The firm supports startups from early to growth stage, focusing on Energy, Food and Agriculture, Manufacturing, Buildings, and Mobility.

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4. AlleyCorp, Fund III

Raise: $250 million

Date: April 15

Headquarters: New York, New York, United States

Fund Description: AlleyCorp builds and invests in transformative companies for the present and future in New York. While AlleyCorp has a more generalist mandate, robotics is a core piece of the firm's thesis and they have invested in several built environment robotics startups.

Moderne+Ventures

5. Moderne Ventures, Fund III

Raise: $230 million

Date: September 16

Notable LPs: GCM Grosvenor, Illinois Growth and Innovation Fund, AvalonBay, Essent, other leading global real estate companies

Headquarters: Chicago, Illinois, United States

Fund Description: Moderne Ventures is a generalist VC and growth equity firm with vertical specialties spanning multi trillion-dollar industries of real estate, finance, insurance and sustainability.

blackhorn

6. Blackhorn Ventures, Industrial Impact Fund II

Fund Size: $150 million

Date: June 26

Notable LPs: Jonathan Rose, Goldbeck GmbH, Simpson Strong-Tie, Grantham Foundation for the Protection of the Environment, Mitsubishi Electric, Westlake Corporation, Mercuria Energy

Headquarters: Denver, Colorado, United States

Fund Description: The fund's focus is seed and Series A stage investments into capital-efficient software solutions, vertical SaaS companies, and AI applications that address the urgent need for industrial resource efficiency and decarbonization at scale. The firm is focused on the energy, transportation, supply chain logistics, real estate, and construction sectors.

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7. SC Net Zero Ventures, Fund I

Raise: €125 million

Date: June 6

Headquarters: Madrid, Spain

Fund Description: Managed by an independent team combining Suma Capital's ESG investment experience and Repsol's venture capital and energy transition technology expertise, the fund will invest in low-carbon mobility, industrial decarbonization, and renewable energy sources.

Foundamental Logo

8. Foundamental, Fund III

Raise: $120 million, estimated

Date: September 6

Headquarters: Berlin, Germany

Company Description: Fund III will continue the firm's strategy of investing at the pre-seed and seed stages in companies across the construction, supply chain/logistics, workforce, and design industries.

IronSpring Ventures

9. Ironspring Ventures, Fund II

Raise: $100 million

Date: June 27

Headquarters: Austin, Texas, United States

Fund Description: Ironspring invests in early-stage industrial-focused startups, across the construction technology, manufacturing, transportation, and energy industries. The firm targets investments at the seed stage and targets companies addressing the pain points of high material prices, labor shortages, infrastructure issues, and supply chain problems.

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10. Era Ventures, Fund I

Raise: $88 million

Date: September 19

Notable LPs: New York Presbyterian Hospital, Continental General Insurance Company, Bain Capital Ventures, Fenwick & West, ICG Advisors, The Ashforth Company, BentallGreenOak (BGO), First American, unnamed Ivy League Endowment

Headquarters: New York, New York, United States

Fund Description: Era Ventures invests in SaaS, AI, marketplaces, embedded fintech, and HardTech startups aiming to fundamentally disrupt the built environment. The firm invests from the seed to Series B stages and writes checks averaging from $3 to $5 million in size.

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11. Prudence, Fund III

Fund Size: $80 million

Date: March 7

Headquarters: New York, New York, United States

Fund Description: Prudence invests in early-stage (seed to Series B) technology companies transforming the construction, real estate, infrastructure, and energy sectors. The fund is seeking startups offering advanced software solutions, data infrastructure, and AI applications for the built environment.

zacua ventures

12. Zacua Ventures, Fund I

Raise: $56 million

Date: February 27

Headquarters: Burlingame, California, United States

Notable LPs: Procore, Volvo, Cemex, and others.

Fund Description: Zacua is investing in early-stage technology companies in the construction industry tackling the industry problems of productivity, sustainability, and urbanization. The firm invests across North America, Europe, and Asia in sustainability-minded startups.