Converge announces £15m Series A

Paul Kvadsheim
May 25, 2022, 2:03 p.m.

LiFE Ventures’ portfolio company Converge has announced the successful completion of their £15m Series A. The funds will accelerate Converge’s mission to digitise, optimise, and decarbonise construction materials and processes. Converge seeks to alleviate the negative impact that the construction and real estate industries have on the environment.

The round was led by OGCI Climate Investments who aim to support efforts to move the world to a net zero carbon emission future.

CEO and co-founder of Converge, Raphael Scheps stated that:

"We are excited to partner with OGCI Climate Investments, which has led this round as a value-aligned, strategic investor. Since 2016, Converge has been developing and scaling innovation solutions to power the digital transformation of the construction industry. Together, we will drive transformative progress in the decarbonisation of the sector, effectively bending the cost and carbon curve simultaneously, and offering products that will be "must haves" as stakeholders demand  sustainable solutions to build the future"

As an early investor in Converge, LiFE Ventures is excited by what the future holds for the company.