Converge raises a $22m round led by ABN AMRO to decarbonize concrete with AI.
London, May 21st, 2025
ABN AMRO Sustainable Impact Fund (SIF) has led a USD 22m (£16.9 million) investment round in Converge, a UK-based leader in AI-powered concrete management and decarbonisation technologies. The round included participation from existing investors, such as Climate Investment (CI), a specialist decarbonization investor, alongside new investors Move Energy, Pi Impact, J-Impact and existing investors TO Ventures, Force Over Mass Capital and others.
This strategic investment will enable Converge to accelerate its commercial expansion and the development of its AI-powered technology platform, ConcreteDNA, supporting the shared mission of decarbonizing concrete.
Concrete production accounts for approximately 8% of global CO₂ emissions, making it a key focus for decarbonization. Converge has been at the forefront of integrating advanced technologies into the construction industry. With a global presence, its flagship platform, ConcreteDNA, offers a suite of solutions for generative and predictive AI mix insights, real-time concrete monitoring and data management. These innovations empower contractors to make faster, data-driven decisions, reduce embodied carbon, and minimize resource waste – tackling both inefficiencies and environmental challenges in construction.
Gaetano Giuffrè, SIF Investment Manager:
“Converge is driving concrete efficiency, smarter optimization, and lower CO₂ emissions in one of the most traditional and high-impact industries. We’re excited to support Raphael, Gideon, and the team on their growth journey as they scale their impact and accelerate the decarbonization of the built environment.”
Raphael, Converge CEO & Co-founder:
This investment round, led by ABN and supported by a consortium of leading impact investors, will empower Converge to accelerate decarbonisation across the concrete industry. Concrete is the world’s most consumed material and one of the hardest sectors to decarbonise. Converge is driving groundbreaking advancements in generative and predictive AI models for material optimisation to tackle this challenge. This new capital raise will enable us to rapidly develop and scale these technologies globally. We’re excited to enter this new chapter in our journey towards building a safer, more efficient, and more sustainable future for concrete.
This investment marks a shared commitment by the investors and Converge to accelerate the adoption of smart, low-carbon technologies across the construction industry, helping to create a more sustainable and efficient built environment.
About Converge
Converge is a London-based construction technology company founded in 2014. It leverages its powerful AI models, proprietary sensor data, and advanced software capabilities to optimize concrete usage and production, reducing carbon emissions. The company’s mission is to help the construction sector build a net-zero future more efficiently through AI, sensors, and data.
ConcreteDNA, Converge’s flagship platform, integrates AI-powered predictive models, sensor-based concrete monitoring and real-time data management to track and simulate concrete performance, optimize mix designs, and minimize inefficiencies – saving valuable time and emissions.
About ABN AMRO Sustainable Impact Fund
ABN AMRO Sustainable Impact Fund (SIF) is a EUR 500 million investment fund backed by ABN AMRO Bank. It invests in companies with a proven track record of driving positive impact, with the goal of accelerating the transition to a sustainable, low-carbon economy while generating financial returns.
About Climate Investments (CI)
Climate Investment is an independently managed specialist investor focused on driving industrial decarbonization. The firm provides early-stage through growth equity capital to innovative companies and partners with large corporations, governments and non-profit organizations to scale their market adoption and impact. Operational since 2017, CI has invested in over 40 climate tech companies across energy, transportation, buildings and industry that have collectively delivered 95 MT CO2e of cumulative greenhouse gas reduction in the period 2019-2023.
Climate Investment was founded by member companies of the Oil & Gas Climate Initiative (“OGCI”). They have invested in Climate Investment funds and deployed many of its portfolio innovations, supporting their early commercial development.
About Move Energy
Move Energy is an early-stage venture capital firm dedicated to supporting early-stage companies pioneering hardware and software solutions to decarbonise the power, transport, and buildings sectors. With a focus on impact-driven investments, Move Energy aims to support the next generation of transformative ventures contributing to a more sustainable world. Move Energy is headquartered in Amsterdam and is backed by InvestNL, the European Investment Fund, family offices, and private investors.
About PI Impact
PI Impact is a Dutch single-family office belonging to the ProDelta group. PI Impact supports impact driven founders who create measurable social, environmental and financial returns, with the ambition to accelerate the transition to a more sustainable and inclusive world. Investments are done both directly into promising ventures, and through other impact driven investment funds.
About J-Impact
J-Impact is a U.S.-based early-stage venture fund and part of the J-Ventures group, a global community of investors, founders, and industry leaders. The fund backs bold, mission-driven founders addressing climate and health challenges through scalable solutions. With a global base of hundreds of investors—including senior executives across finance and operations—J-Impact delivers deep operational support, a hands-on founder-first approach, and a focus on technologies that can improve millions of lives while generating venture-level returns.
