Barcelona-based construction technology company 011h has raised €20 million in a new funding round led by Ship2B Ventures and CDTI (Centro para el Desarrollo Tecnológico y la Innovación).

CDTI, along with Seaya, Breega, Redalpine, and Bsocial, has invested in 011h. This platform enhances building energy efficiency, reduces the carbon footprint of materials, shortens design and construction timelines, and improves execution quality and reliability. The investment was announced in a press release and first published on Webcapitalriesgo.

Madrid-based venture capital firm Seaya has closed Seaya Andromeda fund, Southern Europe’s first Article 9 climate-tech fund, at €300M. The fund’s limited partners include Iberdrola, Nortia, Santander, BNP Paribas Group, Next Tech Fund, and Bpifrance.Carlos Fisch, partner at Seaya, says, “In addition to investors that can provide capital, there is a need for experienced investors with a proven track record who can support startups navigating the growth challenges in this space.”“Since we started investing, we have backed 12 climate tech companies and have successfully exited three of them: Wallbox, RatedPower and Ecoalf.”This new fund brings Seaya’s total assets under management to over €650M, making it the largest VC investor in Spain. ‘Seaya Andromeda’ intends to invest in 25 climate-focused portfolio companies before the end of 2027.Accelerating the growth of startupsSeaya, with twelve years of climate tech experience, has launched ‘Andromeda’ to invest in companies focused on energy transition, decarbonisation, sustainable food value chains, and the circular economy.Pablo Pedrejón and Carlos Fisch lead Andromeda as Investment Partners. The fund, adhering to SFDR’s Article 9, ensures that all investments have a positive impact on society or the environment.- A message from our partner -Pedrejón says, “Deep-tech climate entrepreneurs face a unique set of challenges compared to software-tech entrepreneurs. Climate-tech companies must translate research into a working product, bring it to market, and then scale it.”“This long journey requires different kinds of support than what is typically provided to software startups. This is why there is a need for Series B and B+ investors that help climate tech startups bridge the ‘valley of death’ – the gap from initial development to deployment at scale.”Seaya has already made its first five investments from the Andromeda fund into impact tech companies, including Recycleye, an AI-driven robot for sorting recyclable waste, and 011h, a construction firm reducing CO2 emissions by 75 per cent.To back 25 startups by 2027Seaya Andromeda is Southern Europe’s largest ClimateTech VC fund, managing €300M AuM and focusing on growth