Qflow, a London, UK-based construction tech company, which aims to decarbonize the construction industry, raised £7.2 million in Series A funding.
The round was led by climate tech VC Systemiq Capital, with participation from Ascension Ventures, Bridge Investment Group, Gravel Rd, Greensoil Proptech Ventures, Grosvenor, John Emrey; CEO of Alder properties and former CEO of Lendlease; MMC, and Suffolk Tech.
The fresh funds will enable Qflow to scale its operations in the UK and grow its presence in the US and Australia, and support its mission to decarbonize global construction.
Also, Qflow is hiring across commercial and technical roles, hoping to grow its team of 30 by 200% by the end of 2024.
Brittany Harris, Co-Founder & CEO of Qflow, said: “Jade and I love the construction industry, it literally builds the world around us. But for it to build the sustainable future we need, it must change and reduce its negative impacts on our planet. To us, it was clear we had to tackle our own industry to have a chance of leaving this world in a better place, and this is why we founded Qflow. We are thrilled with the investors that have joined us in this round. The support we’ve received from big players in the sector shows they also see the importance of changing processes and accelerating this transformation towards a more sustainable future.”
Qflow is used by companies, including Berkeley Group, Canary Wharf Group, Grosvenor, Landsec, Morgan Sindall, Multiplex, Workplace Futures, and more.
Company: Qualis Flow Ltd.
Raised: £7.2M
Round: Series A
Funding Month: May 2023
Lead Investors: Systemiq Capital
Additional Investors: Ascension Ventures, Bridge Investment Group, Gravel Rd, Greensoil Proptech Ventures, Grosvenor, John Emrey, MMC, and Suffolk Technologies
Company Website: https://qualisflow.com/
Software Category: Construction Management Software
About the Company: Founded in 2018 by Brittany Harris and Jade Cohen, Qflow is a platform for young and collaborative global citizens trying to make a positive impact in the world. The digital platform enables construction teams to collect real-time materials and waste data at the source, enabling project teams to make informed decisions on cost, carbon, and quality. Its unique features and benefits include reducing waste by providing real-time data and analytics, increasing efficiency by automating and digitizing a currently manual process, providing transparency over carbon savings, enabling the circular economy, and enhancing performance. Qflow is on a mission to build a more sustainable future; providing construction and development teams with the data-driven insights they need to deliver productive, profitable, and sustainable projects.
Source: https://techfundingnews.com/building-a-sustainable-future-female-led-qflow-raises-7-2m-to-decarbonise-construction-industry/