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When you think about platforms in the construction industry, the possibilities are the concrete slabs and long pillars designed to support steel beads first will come to your mind. Munich -based startup Compost Wants to design a different type of platform for the construction industry – a software platform.
In the main part of it, the commostract is a purchase platform for construction content. For large -scale projects, order of processing materials can take a long time, as the suppliers of the materials still print the delivery notes and shipments. Orders are often placed on the phone and it may be difficult to rewrite the invoices and make a wide data report.
And the startup is announced in a 12.5 million series led by GV and 20 VCs, with existing investor bombs and puzzle vencing with investment again.
“Today, the collection process of materials in construction is very analog. You can put a phone call to order 10 cubic meters next Thursday. Then you will receive a physical delivery note on the site that is later typed in an Excel sheet, “Commostract Co-founder and CEO Henrick Maineart Techcunch.” And then they would sometimes send it to the headquarters through the post, where they were manually shipped. Compares with. ”
Each material suppliers can create their own application to process orders, but the problem is that contractors do not want to deal with 100 different applications to get documents. That’s where the Commstract comes with its platform that can combine these processes.
Commostics first contact to understand how ordinary contractors get their materials, as they usually work with countless suppliers depending on the location of construction sites and other specific needs.
“We go to the suppliers of that material. We call them by calling them: How can you share data? Do you have an EDI interface? Do you have an email where you can forward the data? Do you have a customer portal that we can scrap to look for? And then we form the information, “said Mainhart.
The startup then uses machine learning to integrate each supplier on its platform. “This technological improvement has enabled us to integrate 800 components in the last two years, which is already quite significant,” said Mainhart.
At the top of this data level, Complete Ordering, Digital Delivery Receipts, Shipment Reunion and ESG Reporting have created four modules around. The startup runs in a usual-based price-determining model with a simple per-dolce price scheduling technique.
“With [Corporate Sustainability Reporting Directive] In Europe, [contractors] It is necessary to report how much material has gone to the construction projects. Until now, they didn’t know how much they had used to use […] It was a number that didn’t have to them, ”said Mainhart.
Competition with Commstract Cozo The United States and Kifflo In the UK, however, each contestant has its own position. According to Mainhart, Kozo “focuses on the collection much more,” when the coffo “is much more focused on waste management.”
The company originally started working in Switzerland because Mainhart studied there. The Commstract has claimed that it already has good coverage of the materials industry in that country and its platform already has 70% to 80% request suppliers. The company is currently expanding in Germany, Austria and other European countries, depending on the construction project.
Some large -scale construction sites have already used Commstracts to handle construction materials, including several tunnel projects, a highway project in Stockholm and a large train project in Munich. For example, the Gothard Tunnel Project (below depicted below) in Switzerland depends on the commostract to manage and link them with their shipment.
