With $36 Million Series C, Brazil’S Ambar Hopes To Make Civil Construction More Efficient
12/23/21, 11:00 AM
Money raised
$36 million
Industry
financial services
software
Round Type
series c
Brazilian construction tech startup Ambar announced it has raised a large Series C round: R$204 million, approximately $36 million at today’s mid-market rate. The round was co-led by Brazil-based Echo Capital and Oria Capital, with participation from TPG Capital, Argonautic Ventures, and others.
Company Info
Additional Info
And on the other hand, it doesn’t account for the fact that the company also raised venture debt. Talking to TechCrunch, Balbinot explained that the startup plans to use the proceeds to boost the digitization arm of its business, for which it sees a strong need across Latin America. Regardless of the exact tally, the gist is that Ambar now has a significant amount of capital to execute its plans. Ambar has two sides to its business: digitization, which it is now planning to boost further, and industrialization, which some media outlets have likened to Lego for the construction sector. While Spanish-speaking Latin America is driving some of its revenue, it is Brazil where Ambar is most present, Balbinot said. Ambar is not a general contractor, though. Rather than simply claiming that Ambar is a tech company, he backs it up with its unit economics, which are “much higher than in the construction sector.”