Giatec, Ottawa, Canada-based concrete testing technologies, secured a $5 million investment from BDC Capital's Cleantech Practice, augmenting the strategic minority investment by HeidelbergCement in May 2022.
The investment will advance Giatec's goal in lowering CO2 emissions resulting from concrete production by 400 million tons annually, the equivalent of taking 110 million cars off the road.
Giatec's ecosystem can help reduce CO2 emissions by up to 20% by combining patented concrete testing tools with predictive AI-based software.
Pouria Ghods, CEO and Co-founder of Giatec, said," The BDC Capital investment will propel Giatec's expansion into international markets and accelerate our innovation in CO2-reducing technology, moving the concrete industry toward carbon neutrality. BDC has a long history of supporting emerging Canadian cleantech firms in their growth through exports, research and development, etc. We at Giatec are looking forward to working with BDC in our mission to revolutionize the concrete industry and to create yet another success story for the BDC Cleantech Practice."
Company: Giatec Scientific Inc.
Funding Month: September 2022
Lead Investors: BDC Capital's Cleantech Practice
Company Website: https://www.giatecscientific.com/
Software Category: Construction Solutions
About the Company: Giatec is a global company revolutionizing the construction industry by bringing smart testing technologies and real-time data collection to the forefront of every job site. Giatec's suite of hardware and software products has leveraged advanced technologies, such as AI, the Internet of Things (IoT), including concrete wireless sensors, mobile apps, and advanced non-destructive testing technologies (NDT), to drive innovation throughout concrete's lifecycle and reduce concrete's carbon footprint.