Construction tech start-up Schüttflix raises $ 50 million to expand in Europe

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The German start-up has received a financial boost led by Draper Esprit to expand in Austria, Poland and the Czech Republic with its digital platform.

Schüttflix has raised $ 50 million in Series A funding led by Draper Esprit to expand its construction technology business in Europe.

The German start-up has developed a digital logistics hub that supplies sand, gravel and gravel to the construction industry. It aims to connect producers, suppliers and buyers faster than traditional services while reducing costs.

The latest roundtable also saw the participation of Schüttflix co-founders Thomas Hagedorn and CEO Christian Hülsewig, as well as HV Capital, Speedinvest and construction company Strabag.

Schüttflix will use the funding to expand its business in the Austrian, Polish and Czech markets next year – three markets the company says have high growth potential and strong ties to its existing network in Germany.

“After our successful expansion into the German market this year, now is the strategic time for us to grow in Europe,” said Hülsewig.

“Government investment programs, such as the Green Deal and the post-coronavirus stimulus fund, will ensure that construction orders remain strong in the long term.”

Break into a “traditionally analog market”

Schüttflix will also invest in the development of new digital products for the construction supplies and waste disposal industries. Last year, the start-up raised € 8 million in a funding round led by Speedinvest, with the support of the founders.

“European construction sites need a reliable and efficient supply. With Schüttflix we have the solution, ”added Hülsewig.

Draper Esprit chief investment officer Christoph Hornung said Schüttflix has delivered more than 2.5 million tonnes of building materials since its founding.

“The start-up has entered a traditionally analog market and creates real added value for its customers with a real digital solution,” he said.

“The activity has grown by more than 400% since January 2021. The internationalization of the platform is therefore the next logical step and we are delighted to be alongside Schüttflix.

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