Kuro’s €10 Million Funding Boosts AI Foundation for Construction Industry

Kuro Technology, a startup based in Berlin that specializes in Construction Technology (ConTech), has successfully secured €10 million in a recent funding round.

The funding was led by UVC Partners, a prominent venture capital firm headquartered in Munich and Berlin, managing over €800 million in assets and known for its investments in companies like Isar Aerospace, Proxima Fusion, and Aleph Alpha. Foundamental, Realyze Ventures, and helloworld also participated in the round.

Dr. Ingo Potthof, Managing Partner at UVC Partners, expressed his excitement about collaborating with Lea and Jonas, the founders of Kuro Technology, highlighting their extensive startup experience and industry expertise, particularly in the construction sector.

He further stated that Kuro Technology has already demonstrated significant value to its customers through its AI software, focusing initially on estimating and gradually expanding into other back-office processes such as procurement, accounting, and compliance.

Established in November 2024 by Lea Scherer and Jonas Minkler, who previously held leadership roles at construction-tech companies alcemy and Capmo, Kuro Technology currently employs a team of 16 professionals in Berlin. The company’s platform aims to address a key inefficiency in the construction industry related to general contractors.

According to Kuro Technology, general contractors play a pivotal role in every project, with their various teams spending a significant amount of time sorting through project documentation and data. Kuro’s platform is designed to streamline this process by consolidating and processing documents into a unified data model.

The platform also incorporates a customer-specific rulebook that covers building components, review criteria, and work packages, helping to identify discrepancies early on, assess risks, enhance model components, manage tenders, and evaluate subcontractor bids. Corrections made by estimators are saved in the rulebook, ensuring consistency across projects.

UVC Partners reports that Kuro’s customers have significantly reduced the time spent on bids and that 70% of users have benefited from valuable insights provided by the platform. Major clients of Kuro include Goldbeck, Köster, Implenia, Geiger, Riedel, and Hochtief Infrastructure.

Lea Scherer, Co-founder and CEO of Kuro Technology, emphasized the importance of empowering the construction industry in Europe with technological tools, highlighting the platform’s ability to reduce dependency on individual expertise as companies grow.

Kuro Technology plans to utilize the funding to enhance its AI platform for general contractors, focusing on continuous learning and improvement with each project. Jonas Minkler, Co-founder and CPO of Kuro Technology, explained the platform’s expansion beyond estimation to address challenges in data consistency and knowledge transfer across projects.