Field Materials, a Charlotte, NC-based AI platform for material and equipment procurement in construction, has raised $10.5 million in Series A funding.
Investors
The round was led by Navitas Capital, with participation from Blumberg Capital, DivcoWest Ventures, S16vc, and Superseed Ventures. This new investment brings the company’s total funding to nearly $19 million.
Navitas Capital is a venture capital firm based in Culver City, California, founded in 2009. The firm specializes in investing in transformative technologies, particularly within the real estate and construction sectors. It focuses on early-stage investments, often at the Series A round, and supports companies that leverage advancements in AI, sustainability, fintech, and digitization.
Field Materials Use of Funds
The company will use the funds to double its workforce and triple its revenue in 2025, further accelerating its growth and technological capabilities.
About Field Materials
Founded in 2022 by Eldar Sadikov and Victor Gane, Field Materials offers an AI-powered procurement platform to streamline material and equipment purchasing in the construction industry. The company leverages proprietary AI models to automate tasks like reading vendor quotes, delivery slips, and invoices. Field Materials serves construction professionals like contractors, subcontractors, and material suppliers across various trades like drywall, concrete, and electrical. With clients like Swinerton, Teichert, and Big-D, Field Materials supports 8,000+ vendors and 4,500 projects in 27 U.S. states.
Funding Details
Company: Field Materials, Inc.
Raised: $10.5M
Round: Series A
Funding Date: April 2025
Lead Investor: Navitas Capital
Additional Investors: Blumberg Capital, DivcoWest Ventures, S16vc, Superseed Ventures
Company Website: https://www.fieldmaterials.com/
Software Category: AI / Construction Procurement Automation
Source: https://www.prweb.com/releases/co-founded-by-entrepreneur-with-paypal-exit-field-materials-raises-10-5m-to-automate-construction-procurement-with-ai-302440832.html