Emerald invests into construction data solutions trailblazer Hiboo

Zürich, Switzerland: Cleantech venture capital pioneer Emerald Technology Ventures has invested into Hiboo, which provides industrial equipment data solutions for the construction sector. The €9.3 million round, which was joined by Nabtesco Technology Ventures, ISAI Build Venture, Future Industry Ventures, Ring Capital, and Citizen Capital, will help Hiboo expand its sales pipeline and gain market share amid the rapid digitization of the built environment.

Paris, France-based Hiboo provides an integrated, one-stop window to equipment data for contractors and construction managers. As original equipment manufacturers (OEMs) increasingly employ in-house and third-party sensors to collect information about their equipment, Hiboo’s user-friendly, graphically rich interface weaves together this data for a variety of uses. The benefits of the insights generated include increased efficiency, reduced waste and the ability to spot maintenance needs before problems occur.

The construction industry comprises 13% of the global economy yet has been slow to engage in the kind of transformation efforts that typically spur productivity across other sectors. This leaves it vulnerable to bottlenecks and boom-and-bust cycles. It is also a drag on the industry’s sustainability performance. According to one study, construction and use of the built environment accounts for nearly 40% of global greenhouse gas emissions.

Hiboo’s data platform can help the construction equipment industry—which was valued at $176 billion in 2020 and is projected to add roughly another $100 billion by 2030—plug these gaps, tracking everything from distance traveled to carbon dioxide emissions. For instance, the company estimates it can reduce idle time of an asset by 10%, leading to better outcomes for climate and the bottom line alike. No longer will construction equipment data be a “black box” of minimal transparency.

Emerald has previously supported several companies working to optimize data from industrial sources, including in construction. Key investments include a recent deal with MentorAPM, which develops and sells a cloud-based asset management software platform for utilities and industrial customers, and an ongoing engagement with Librestream, which provides video collaboration solutions for business users in industrial applications and field services.

“The next stage of the construction industry will see it leverage data for faster response, clearer insights and better overall management,” says Emerald Investment Director Mehran Zaker. “Hiboo is perfectly positioned at the cutting edge of this exciting transformation.”

“We are thrilled to partner with Emerald and Nabtesco, a significant milestone for Hiboo. This investment from Emerald, who counts global industry leaders like Caterpillar, Liebherr, and Doosan among their investors, reinforces our status as a neutral server in the industry. This neutrality is key for our effective collaboration and ongoing innovation,” says Clément Bénard, CEO & Co-Founder at Hiboo.

Learn more from CEO Clément Bénard during his live television interview on “Good Morning Business” (in French): French Tech : Hiboo – 09/01 (bfmtv.com)

About Emerald Technology Ventures

Emerald is a globally recognized venture capital firm founded in 2000, that manages and advises assets of over €1 billion from its offices in Zurich, Toronto and Singapore. The firm invests in start-ups that tackle big challenges in climate change and sustainability, with 4 current funds, hundreds of venture transactions and four third-party investment mandates, including loan guarantees to over 100 start-ups.

Bold Ideas. Bright Future.  www.emerald.vc

CONTACT FOR EMERALD:

info@emerald.vc

About Hiboo

Founded in 2017, Hiboo helps industrial companies improve the productivity and energy efficiency of their mobile industrial equipment fleets. Hiboo is a recognised player in construction tech and digital transformation. The company works with numerous players in the construction, waste and equipment rental sectors, and processes data from over 50,000 equipment in 50 countries. Awarded “Solar Impulse Efficient Solution” by the Solar Impulse Foundation, Hiboo uses its data management and analysis technologies to help reduce the carbon footprint of the industrial sector.

CONTACT FOR HIBOO:

Manon Pellet

manon.pellet@hiboo.io

+33667891990