News
Converge raises a $22m round led by ABN AMRO to decarbonize concrete with AI
May 22, 2025
ABN AMRO Sustainable Impact Fund (SIF) has led a USD 22m investment round in Converge, a UK-based leader in AI-powered concrete management and decarbonisation technologies. The round included participation from existing investors, including Climate Investment (CI), a specialist decarbonization investor, alongside new investors Move Energy, PI Impact, J-Impact and existing investors TO Ventures, Force Over Mass Capital and others.
This strategic investment will enable Converge to accelerate its commercial expansion and the development of its AI-powered technology platform, ConcreteDNA, supporting the shared mission of decarbonizing concrete.
Concrete production accounts for approximately 8% of global CO₂ emissions, making it a key focus for decarbonization. Converge has been at the forefront of integrating advanced technologies into the construction industry. With a global presence, its flagship platform, ConcreteDNA, offers a suite of solutions for generative and predictive AI mix insights, real-time concrete monitoring and data management. These innovations empower contractors to make faster, data-driven decisions, reduce embodied carbon, and minimize resource waste – tackling both inefficiencies and environmental challenges in construction.
Gaetano Giuffrè, SIF Investment Manager:
“Converge is driving concrete efficiency, smarter optimization, and lower CO₂ emissions in one of the most traditional and high-impact industries. We’re excited to support Raphael, Gideon, and the team on their growth journey as they scale their impact and accelerate the decarbonization of the built environment.”
Raphael, Converge CEO & Co-founder:
This investment round, led by ABN and supported by a consortium of leading impact investors, will empower Converge to accelerate decarbonisation across the concrete industry. Concrete is the world’s most consumed material and one of the hardest sectors to decarbonise. Converge is driving groundbreaking advancements in generative and predictive AI models for material optimisation to tackle this challenge. This new capital raise will enable us to rapidly develop and scale these technologies globally. We’re excited to enter this new chapter in our journey towards building a safer, more efficient, and more sustainable future for concrete.
Mike Bishop, CI Investment Director & Board member:
“The construction industry needs practical solutions that deliver both carbon reductions and cost savings. Converge exemplifies this dual impact through its AI-powered ConcreteDNA platform. At CI, we’re committed to accelerating technologies that can transform high-emissions industries, and our continued investment in Converge reflects our confidence in its approach.”
This investment marks a shared commitment by the investors and Converge to accelerate the adoption of smart, low-carbon technologies across the construction industry, helping to create a more sustainable and efficient built environment.
About Converge
Converge is a London-based construction technology company founded in 2014. It leverages its powerful AI models, proprietary sensor data, and advanced software capabilities to optimize concrete usage and production, reducing carbon emissions. The company’s mission is to help the construction sector build a net-zero future more efficiently through AI, sensors, and data.
ConcreteDNA, Converge’s flagship platform, integrates AI-powered predictive models, sensor-based concrete monitoring and real-time data management to track and simulate concrete performance, optimize mix designs, and minimize inefficiencies – saving valuable time and emissions.
