Aldagram, a startup from Japan that develops project management software for construction companies, has selected a new strategic backer to help it build its footprint across Asia and the Middle East.
Panasonic, the consumer electronics giant that also develops solar panels, air conditioning units and many other products for many buildings and construction businesses, has invested in Aldagram.
The amount of the investment was not disclosed, but Aldagram said it will use the funds to sharpen its focus on India, Thailand, the Philippines, Malaysia and other countries in the region. Its new strategic investor could add a few to that list: Panasonic’s construction business is particularly active in India, Turkey and Vietnam. It has been associated with Aldagram since 2022.
The investment comes after a larger round raised at the start of the summer of 2022, a $20 million Series A from MonotaRo and JAFCO. As with its earlier Series A, Aldagram did not disclose the details of its valuation. Currently it has 60 people.
Aldagram’s flagship product is a cloud-based project management platform called KANNA, designed for professionals in the construction, real estate and manufacturing industries who use it to source and record on-site data for on projects, and share that data with other partners on projects. .
Aldagram’s aim is to bring a new, digital spin to what has traditionally been an analogue industry, with an aging workforce and heavy – and sometimes very old – machinery, Aldagram CEO and co-founder Hikaru Nagahama said in an interview with TechCrunch.
But in fact, the construction industry has become a key focus for many tech startups, dealing with tools for building construction, the materials used and the many layers of software that help design. and implementation of projects, with some notable exits among. of them, such as Autodesk’s acquisition of YC-backed PlanGrid for $875 million (see here and here for more of our coverage of startups in the space).
KANNA allows users to store all data digitally and share site photos, project visualization documents, work requests, site location, insights, performance details and more, it said. Nagahama
“They can use their smartphones or tablet devices to use KANNA and quickly access the information they want,” Nagahama told TechCrunch.
On top of that, KANNA helps construction project managers stay connected with what’s happening on site. “If you are a project manager, you can use the website to manage all projects as a list view or contact all project members to provide instructions,” Nagahama said.
More than 10,000 corporations in over 10 countries, including the UK, Spain, Kenya, Uganda, Dubai, India, Thailand, Vietnam, the Philippines, Malaysia and Australia, have been using KANNA since the product was first launched in 2020, the company said. In addition to Panasonic, other large, industrial-level users include Mitsui Designtec, Nissan Trading and Tokyu Redesign, according to the company.
The global construction management software market is expected to reach $23.9 billion by 2031, up from $9.3 billion by 2021, per recent report.
In addition to a broad swathe of startups, there are also a host of larger global IT players in the construction tech sector, including Oracle’s Primavera, Procore Technologies and Asana, Nagahama said.
Oracle was recently acquired Aconex, a cloud-based software platform; and Text, a cloud-based contract and payment management provider, to expand its Primavera construction management platform. Another company, Procore, went public in 2021 after that raising $75 million at a $3 billion valuation in 2018.