DWF has advised Octagon I/O Limited (Converge) on its series A fundraising round led by OGCI Climate Investments in which over £15 million of equity share capital was raised. The round saw participation from TO Ventures, and other new and existing investors.
Converge are an AI-based construction technology company with a focus on digitising, optimising and decarbonising construction materials and processes. Their flagship ConstructionDNA module predicts when concrete will reach strength with over 95% confidence which increases the speed of build times by up to 30%. The technology will enable stakeholders to build more efficiently, safely and sustainably and assist in the transition to more carbon efficient concrete. Long-term, Converge aim to digitally enable the decarbonisation of the entire construction sector, with the potential to generate significant CO2 reductions by 2050.
Alexis Karim, Partner and Leah Hayden, Solicitor from DWF's London corporate team led the transaction with support from Kartik Monga, Associate and Amie Jobling, Trainee Solicitor.
OGCI Climate Investments were advised by DLA Piper LLP.
Converge are an AI-based construction technology company with a focus on digitising, optimising and decarbonising construction materials and processes. Their flagship ConstructionDNA module predicts when concrete will reach strength with over 95% confidence which increases the speed of build times by up to 30%. The technology will enable stakeholders to build more efficiently, safely and sustainably and assist in the transition to more carbon efficient concrete. Long-term, Converge aim to digitally enable the decarbonisation of the entire construction sector, with the potential to generate significant CO2 reductions by 2050.
Alexis Karim, Partner and Leah Hayden, Solicitor from DWF's London corporate team led the transaction with support from Kartik Monga, Associate and Amie Jobling, Trainee Solicitor.
OGCI Climate Investments were advised by DLA Piper LLP.
