The construction company 011h gets 25 million to go digital

The construction company 011h has obtained 25 million euros in an investment round that has been led by the Redalpine investment fund and has had the participation of Seaya Andromeda, Breega, Foundamental and A/O Proptech.

NewsEditor
NewsEditor
09 July 2022 Saturday 01:02
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The construction company 011h gets 25 million to go digital

The construction company 011h has obtained 25 million euros in an investment round that has been led by the Redalpine investment fund and has had the participation of Seaya Andromeda, Breega, Foundamental and A/O Proptech.

The start-up will invest the money in increasing the digitization of its operations and increasing the size of the team. "We need to accelerate our growth and for this reason, we want to recruit 50 professionals from the digital and engineering sectors and reach 100 people this year. We will also allocate the money to increase the benefits of our technological platform, which allows us to improve the efficiency of the entire process of design and construction of a building", comments Lucas Carné, partner of the company together with José Manuel Villanueva (both founders of Privalia). With other partners, Alex Valls (Social Point and Exoticca); José Ojeda (GFG and Lyst) and Juan Velayos (former Renta Corporación and Neinor), founded 011h at the end of 2020.

Over the last two years, the company has completed the construction of an 8-unit building in l'Hospitalet de Llobregat for Renta Corporación. "Our clients are real estate developers. We carry out the entire project in an integral way, from the design of the property to the construction". The manager highlights the efficiency of the operation because it is based on "building buildings in blocks, as if they were Lego pieces, so that only assembly takes place on the ground, and that manages to cut costs," says the manager, who adds that the founding team retains more than 50% ownership.

This year, the company has already launched another project that includes the construction of a 51-unit building in Alicante for the developer AEDAS Homes. In the next 18 months, it plans to put four projects into operation throughout Spain, ranging in size from 50 to 120 homes.

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