EdilGo, the startup that has developed an e-procurement software for the construction industry that allows companies to receive quotes from the best suppliers, enabling significant savings in the purchase of materials and services, has closed a 300,000 euro investment round in which CDP Venture Capital Sgr through the Accelerators Fund, with an investment of 150,000 euro, LVenture Group and the members of Italian Angels for Growth (IAG) participated.
Accelerated in 2020 by LUISS EnLabs, the startup accelerator of LVenture Group, EdilGo is a real online purchasing department for the supply of materials and services. The startup has developed a unique process that, thanks to artificial intelligence, makes listing fast and secure. Builders upload to EdilGo’s platform the technical bill of quantities, a complex document listing all the materials and services needed to complete a project. The software automatically recognises the items contained in the bill of materials and creates quotation requests which are sent to all registered suppliers. Once the bids are received, the builder compares them and chooses the one best suited to his needs based on a series of filters (rating, distance, certifications, etc.).
“We are proud to support the growth of EdilGo, a young and innovative startup that not only had the courage to be born at a time of extreme difficulty, but above all has been able to intercept the need to provide companies operating in one of the least digitised sectors, construction, with the most appropriate technological tools to optimise processes and management costs“. Said Stefano Molino, Head of the Accelerator Fund at CDP Venture Capital SGR – Fondo Nazionale Innovazione.
“The digital transition, accelerated by the pandemic, is increasingly a central factor in the market competitiveness of companies. We are convinced that the solution developed by EdilGo can seize the great opportunities of a market, that of e-procurement, which has exceeded 6 billion dollars in 2020 and is estimated to reach 9 billion dollars in 2025, innovating a sector that today is not very digitalised like the construction industry, but which sees in digital one of the engines of recovery“, commented Luigi Mastromonaco, Head of Investments & Growth at LVenture Group.
“For the construction industry, innovation is no longer a ‘plus’, but a necessary condition for a company’s growth during uncertain times. We are excited about the arrival of the new partners who have not only believed in a vision, but also in a team. The new resources will allow us to consolidate what we have achieved in the last year and bring other solutions to the market,” affirmed Carlo Andrea Guatterini, Co-Founder & CEO of EdilGo.