Startups that help contractors decarbonize buildings, manage their workforces and make jobsites safer were some of the businesses that benefitted from fresh infusions of investor funding in the second quarter of 2025.
Here are six startups that caught investors’ eyes and raised capital for their businesses.
Wakecap
$28 million
Dubai, United Arab Emirates-based WakeCap, a project intelligence software that uses sensors to track construction and safety progress, raised $28 million in a Series A funding round, the firm announced on May 13.
Via a sensor that attaches to a construction hard hat, WakeCap’s tech picks up data around the jobsite, which is uploaded through its network and onto the platform, according to the company’s website. The company said it provides information related to worker access and equipment utilization as well as safety alerts and progress tracking. Users report a 91% reduction in safety issues, a 25% productivity gain and 70% faster incident response times, according to the news release.
The new capital will be used to scale WakeCap’s presence across existing and new markets, deepen its product capabilities, grow its team and expand integrations with key industry platforms, according to the news release.
Miter
$23 million
San Francisco-based Miter, which offers cloud-based field operations and expense management solutions, announced a recent $23 million Series B funding round led by existing investors Bessemer Venture Partners and Coatue Management, according to a May 19 news release. The round brings its total funding to $38 million.
Miter helps contractors modernize their back-office and field operations by connecting human resources, finance and operations into one platform, according to the news release. The company says it typically replaces desktop-based applications or industry-agnostic software.
Some of the platform’s functions include tools to help with job costing, payroll compliance, employee onboarding, time-tracking, expense management and benefits administration. The firm wrote that builders leveraging the platform save between 20 to 40 hours per week on payroll processing alone.
Converge
$22 million
U.K.-based Converge, an artificial intelligence-powered concrete management and decarbonization tech firm, completed a $22 million investment round, according to a May 21 news release.
The startup’s flagship platform, ConcreteDNA, offers a suite of solutions for generative and predictive AI mix insights, real-time concrete monitoring and data management, according to the news release. The offering helps builders make faster, data-driven decisions, reduce embodied carbon and minimize resource waste, the company said.
With the funding, Converge plans to accelerate its commercial expansion and the development of ConcreteDNA.
Exterra
$14.5 million
Montreal-based Exterra, a startup that turns mining waste into sustainable building materials, announced a 20 million Canadian dollar ($14.5 million) funding round on May 6.
Exterra’s offering comes in two segments — using its technology, one process can take waste and produce low-carbon metal oxides alongside other by-products, and another mineralizes carbon dioxide in a single step without the need for carbon capture. It also uses Quebec’s low-carbon hydroelectric grid to generate high-demand co-products, which include amorphous silica used for low-carbon building materials.
Exterra’s commercialization strategy centers on its upcoming asbestos mitigation Hub I project, scheduled to begin construction in 2027 in Quebec, according to the release. The company said it will become the world’s largest asbestos mitigation plant, with an annual capacity to process over 300,000 tons of asbestos mine tailings annually.
Field Materials
$10.5 million
Charlotte, North Carolina-based Field Materials, which developed an AI platform for material and equipment procurement, completed a $10.5 million Series A funding round, the firm announced on April 30. The raise brings the company’s total funding amount to $19 million.
Using proprietary large language models, Field Materials’ AI-product takes in vendor quotes, delivery slips and invoices and automatically enters the data into nine major construction accounting systems. The company said this reduces purchase order and invoice processing time by 90%, improves margins and helps contractors get volume pricing. The company touts large contractors among its customers, including Concord, California-based Swinerton, Sacramento, California-based Teichert and Salt Lake City-based Big-D Construction.
With the money, Field Materials plans to double its team and triple its revenue in 2025, according to the news release.
Sublime Systems
$3 million
Suffolk Technologies, the venture capital arm of Boston-based builder Suffolk Construction, has invested in Somerville, Massachusetts-based Sublime Systems, a low-carbon cement manufacturer, the firm announced in a May 20 news release. The total influx was $3 million, the venture capital firm told Construction Dive via email.
Sublime’s manufacturing process replaces the traditional combustion-driven kiln with a proprietary ambient temperature electrochemical process that produces a cement that significantly reduces carbon emissions, according to the release. It has the potential to achieve cost parity at scale with conventional Portland cement, the announcement said.
The announcement comes on the heels of a long-term contract that tech giant Microsoft signed with Sublime Systems to buy low-carbon cement to meet its sustainability goals by reducing its construction emissions, according to the news release.
In addition, the U.S. Department of Energy selected Sublime Systems last year for an up to $87 million award to speed up construction of a low-carbon cement manufacturing plant in Holyoke, Massachusetts.
