San Francisco-based Prelude Ventures led the add-on to the Toronto startup’s seed round, with participation from Montage Ventures of Menlo Park, Calif. Augmenta will use the new funding to develop new products and hire sales and support staff. (The Logic)
Talking point: Founded in July 2018, Augmenta makes software that tradespeople can use to generate code-compliant designs for buildings’ internal systems. The startup’s first AI tools produce blueprints for the network of electrical raceways that carry power lines around a structure, and the firm will spend some of its new cash on adding products for mechanical and plumbing systems. “The creation of these designs actually takes very long,” Augmenta CEO Francesco Iorio said in an interview with The Logic last year, claiming his software can cut the timeline from months to minutes. The startup has raised US$25.6 million in total to date, with past backers including industrial fund Eclipse and the BDC Deep Tech Venture Fund.