smino closes series A financing round of CHF 3 million from major investors
Rapperswil, 30 September 2021 smino has secured investment from leading German PropTech VC BitStone Capital and major Swiss venture capital investors in a oversubscribed Series A financing round. The Swiss construction project platform provider will now have CHF 3.1 million of capital to invest in expanding its international operations and developing the platform.
Swiss PropTech startup smino provides a central hub for a variety of construction projects which significantly enhances collaboration between project teams, creating a data depository and increasing efficiency of construction projects. Over 17,000 clients already use smino to focus on the core responsibilities of their projects and use more effective workflows.
To pursue market leadership in open BIM project management, smino has secured financing of CHF 3.1 million following the Series A round. The lead investor is BitStone Capital. Further investors are EquityPitcher Ventures, Swiss Startup Capital, Session VC, Swiss Immo Lab, AXEPT Business Software AG and Conreal.
“The smino team impressed us and our partners with their all-in-one software solution for construction project management. We are delighted to be on board as they expand into new markets and continue to enhance their digital project management platform”, said Manfred Heid, Managing Partner of BitStone Capital.
Digital innovation convinced investors
The innovative platform smino is gaining demand as a digital tool for the planning and execution of construction projects. “The investors were impressed by the innovative platform and by the stellar growth figures which have made smino the leading provider of digital construction solutions on the Swiss market” continued Manfred Heid.
“smino has managed to generate rapid growth and become a key player in the construction industry. They’re now expanding, and we’re convinced that this outstanding team has what it takes to rapidly succeed”, added Guy Giuffredi from Swiss Startup Capital.
Planned expansion in Switzerland and in Europe
“The brisk construction industry, combined with growing demand for suitable digital solutions for managing construction projects, has created a very attractive market environment for us”, said Silvio Beer, co-founder, and Managing Partner of smino. The founders observe major growth potential for their startup following the successful round of financing. Co-Founder Sandor Balogh explained: “The Series A round will allow us to build upon our market-leading position in Switzerland and expand internationally. In Europe we are establishing a further office in Germany. In addition, the capital will be used to further develop smino technically and functionally.
To this end, more tasks from the construction industry such as Lean Construction and Integrated Project delivery could be enhanced with artificial intelligence.”
smino was founded in 2016 by Sandor Balogh and Silvio Beer with the aim of providing a digital tool to help the construction industry overcome everyday challenges. Successful delivery of construction projects and customer satisfaction are their top priority. Their vision of an all-in-one platform to enhance collaboration, information management and efficiency became a reality when smino was launched at the Swissbau 2018 trade fair. The company now has 26 employees, who work hard to ensure that over 17,000 customers across Germany, Austria and Switzerland can focus on what matters most: construction. The smino team fosters close relationships with its customers and partners, with the aim of shaping the future of the construction industry together.