Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
When you think about the platforms in the construction industry, the opportunities are the concrete panels designed to support the symptoms of steel and long columns will appear first in your mind. Startup in Munich Comstruct He wants to design a different type of platform for the construction industry – software platform.
In its essence, Comstruct is a building material purchase platform. For widespread projects, the orders of processing materials can take a lot of time, as material service providers still print delivery notes and bills. Requests are often placed over the phone, and it may be difficult to reconcile bills and create comprehensive data reports.
The emerging company announces a 12.5 million dollar chain tour led by GV and 20VC with current investment investments in investment again.
“Today, the purchase of materials in construction is very analog. They compare bills manually with receipts. “
Each supplier for materials can create its own application to process orders, but the problem is that contractors do not want to deal with 100 different applications for documents. This is the place in which COMSTRUCT comes with its platform that can unite these operations.
COMSTRUCT first connects to the general contractors to understand how they get their materials, because they are generally working with countless suppliers depending on the location of the construction sites and other specific needs.
“We are dealing with these financial suppliers. We invite them and ask them: How can you share data? Do you have an EDI interface? Do you have an email where you can direct information? Do you have a customer gate that we can get rid of to find materials? Then we organize information.”
Then use the start -up starting learning to integrate each supplier on its primary system. “We have enabled this technical improvement to integrate 800 suppliers of materials over the past two years, which is really a large amount,” said Minhardt.
In addition to this data layer, Comstruct has built four demands, digital delivery receipts, bill reconciliation and ESG reports. The startup works on a useful pricing form with a simple pricing strategy for each document.
“With (directives reporting the sustainability of companies) in Europe, (contractors) need to report the amount of materials that went to construction projects. So far, they did not know how much concrete they used (…) This is a number they had no.”
Comstruct competes with Koju In the United States and Qflow In the UK, but each competitor has its own position. According to Meinhardt, Kojo focuses “much more on the side of the purchases”, while QFlow focuses a lot on waste management.
The company originally started working in Switzerland because Meinhardt studied there. COMSTRUCT claims that it already has a good coverage of the material industry in that country, and it has 70 % to 80 % of the suppliers wanted on its platform already. The company is currently expanding to Germany, Austria and other European countries depending on construction projects.
Some construction sites have been widely used to manage building materials, including many tunnels projects, a highway project in Stockholm and the big train project in Munich. For example, the Gotthard Tunnel Project in Switzerland (in the image below) depends on COMSTRUCT to deal with all delivery notes and link them to bills.
