Construction Management Platform, Hubble.Build, Raises Series B Funding from International Investors for Next Phase of Growth
S$12.85m raised from Asia’s leading built environment investor Taronga Ventures, Kajima Ventures of Singapore (a corporate venture capital of Kajima Corporation of Japan) and Seeds Capital of Singapore, alongside current investors led by Tin Men Capital of Singapore
The round brings new investors to the table, such as Singapore and Australia’s Taronga Ventures, Singapore’s Kajima Ventures and Singapore’s Seeds Capital, to participate alongside existing investors OSK Capital Partners of Malaysia and Singapore-based Aurum Investments, led by Tin Men Capital of Singapore.
Hubble.Build is an integrated, end-to-end construction management platform for developers, consultants, fabricators and contractors which digitises and automates processes, tracks ongoing work and collects data in real-time. Hubble enables key stakeholders across the entire construction value chain to collaborate seamlessly, resulting in a 65% reduction in time spent on manual manpower and HR processes.
Hubble.Build, which has seen its revenue grow threefold since its first external financing round in 2Q 2020, aims to further scale and expand beyond Singapore and Malaysia, where it currently operates, to other South-East Asian countries and Hong Kong as it capitalises on rapid digitisation headwinds in the sector.
It will also be expanding its R&D capabilities to provide customers with more value-added features and services designed to help construction companies restart quickly and safely, accelerate their projects’ progress and collect payments on time.
Lin Shijing, Co-Founder and CEO of Hubble.Build said, “This milestone is a humbling reminder of the progress that we’ve made since Hubble’s inception in 2016 and an exciting glimpse into what we will achieve in our next phase of growth. Our focus will be on expanding our presence and serving a more global clientele, and ensuring our suite of solutions makes Hubble the most compelling and comprehensive offering in the market. I would also like to take this opportunity to share that our team is preparing to launch a highly anticipated, game-changing product in 2022, the details of which we hope to be able to announce in due course.”
Taronga Ventures’ Co-Founder and Managing Partner, Avi Naidu said, “We recognised from the onset, Hubble’s value and impact in the built environment sector. We are pleased to support its growth so more companies in Asia are able to move away from heavily manual processes and embrace innovation to help them build more efficiently, safely and sustainably.”
Kajima Ventures’ Managing Director Shingo Hori said, “As a user of Hubble’s integrated platform, we have seen first-hand how it has completely transformed the way that we work. Many in the sector now recognise that the manual, legacy processes of the past are a hindrance to growth and that digitisation is key for companies to move forward. As a leader in building construction, design, engineering and real estate development, Kajima Group is excited to be growing our relationship with Hubble from that of customer to investor and we look forward to a long and fruitful partnership.”
Tin Men Co-Founder Jeremy Tan added, “We are proud to be among a stellar cast of investors including partners, such as the Singapore Government and international VCs Taronga Ventures and Kajima Ventures. It speaks volumes about the level of investor confidence in Hubble’s products and its scalability beyond its existing markets and we look forward to seeing the integral, strategic roles each will play in charting Hubble’s next phase of growth.”
Taronga Ventures, headquartered in Singapore and Sydney, invests in scalable technology and innovation in the real estate sector and the wider built environment, while Kajima Ventures is a Singapore-based corporate venture capital of Kajima Corporation, one of the oldest and largest construction companies in Japan. Seeds Capital, which invests in Singapore-based technology startups with strong intellectual content and global market potential, is an investment unit belonging to Enterprise Singapore.
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