HAZELVIEW VENTURES LEADS SEED FUNDRAISING FOR BUILDTECH COMPANY AUGMENTA
TORONTO, June 21, 2022 /CNW/ - Hazelview Ventures Inc. ("HVI"), a subsidiary of Hazelview Investments Inc. ("Hazelview"), is pleased to announce that it has partnered with Augmenta, the company automating building design for the construction industry.
The construction industry is ripe with opportunities for automation. It currently faces many challenges including manual design, which has a high margin for error, leaving contractors carrying the risks and costs, and is incredibly wasteful. The Augmenta Construction Platform introduces generative design as a solution to these challenges and offers significant ESG (Environmental, Social, and Governance) benefits.
"Our partnership with Augmenta is another example of Hazelview's commitment to seeking innovative solutions to improve efficiency and sustainability across the Hazelview property and development management platform," says Ugo Bizzarri, CEO of Hazelview Investments.
The funding will be used to accelerate the development of the Augmenta Construction Platform; launch a pilot program for the Electrical System Design (ESD) module and scale the business units.
In what is to be the first of several design modules, Augmenta has developed an automated design tool for electrical engineers and contractors that generates fully constructible, code-compliant designs of electrical raceway routing. The platform will reduce turn-around times, cost, risk and will ensure materials are not wasted.
"Augmenta's technology is a huge step forward for the construction industry and will help stakeholders achieve both cost savings and ESG benefits through waste reduction," said Roger Poirier, co-founder of Hazelview Ventures. "We are excited to be partnered with such a ground-breaking company." Concurrent with the investment in Augmenta, Poirier will join the Augmenta board of directors.
"Hazelview is a progressive company on the forefront of change in the construction industry. They immediately understood both the cost and ESG benefits associated with the Augmenta Construction Platform, not only for Hazelview, but for developers across the board. We are thrilled to partner with such a forward-thinking organization," said Francesco Iorio, co- founder and CEO of Augmenta. "Their guidance with our go-to-market strategy has been extremely helpful, and we look forward to continuing to work closely with them as Augmenta grows and disrupts the construction industry."
Hazelview Ventures is a venture capital business focused exclusively on partnering with innovative, early-stage PropTech, BuildTech and CleanTech companies. Beyond simply providing funding, Hazelview Ventures offers entrepreneurs the ability to test, refine and scale at an enterprise level, while optimizing the management of Hazelview's real estate properties and investments.
Hazelview Investments has been an active investor, owner, and manager of global real estate investments since 1999 and remains committed to creating value for people and places. Hazelview employs a global investment and asset management team of more than 70 people in its offices in Toronto, New York, Hong Kong and Hamburg and manages
11.6 billion (CAD) in real estate assets. To learn more visit hazelview.com.
Founded by the ex-Autodesk team that pioneered Generative Design, Augmenta is a software company that is driving a new level of efficiency for the construction industry by automating building design. The company's flagship Augmenta Construction Platform (ACP) is being developed with a view to ensuring buildings are always designed to be energy efficient, use sustainable materials, are safer to build, and contribute less waste to landfill during construction. Once available commercially, this innovative new cloud-based platform – which uses artificial intelligence, including machine learning and mathematical optimization – will enable contractors and engineers to create error-free, constructible, code-compliant designs of buildings and systems in hours instead of weeks. For additional information, visit augmenta.ai.
SOURCE Hazelview Investments Inc.
Stephanie Turner, Proof Strategies for Hazelview Investments, [email protected], 416-969-1670
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