PropTech startup myAEDES, which has developed software and a mobile app for the digital management of construction site reporting, has scored a €585,000 investment round. The initial investment by LVenture Group and some business angels was matched by CDP Venture Capital, which participated with €350,000, subscribed through its Fondo Rilancio Startup.
myAEDES is a digital tool that protects engineers, architects and surveyors who are working professionally on construction sites, enabling them to keep track of the quality of the work carried out. The platform supports professionals during inspections, allowing them to document the progress of work in real time through certified notes and photos.
To further improve the user experience and workflow, making it simpler and more intuitive, a new ‘mobile-first’ IT platform was developed, designed for use from smartphones and tablets directly on the construction site. Thanks to myAEDES, professionals can manage multiple construction sites from the same app wherever they are: in the office, on site and even abroad, with obvious time and cost advantages: with myAEDES, they finish their work even before they leave the construction site.
“We have found, that although there are specific regulatory obligations, as well as moral obligations, that require the tracking of activities to ensure transparency and safety on construction sites, unfortunately, these obligations are deliberately ignored by a not insignificant number of practitioners“, says Marco Apollonia, CEO & Co-Founder of myAEDES. “myAEDES supports the work of all those professionals who seek transparency and want to demonstrate the high standard of their work. Through the management system, the work log and the inspection report with certified photos and notes are filled out via smartphone“.
By using myAEDES, professionals, who work in full compliance with the law, protect themselves from possible future disputes thanks to the document archive stored in the cloud. Indeed, in the event of a dispute, the work performed can be documented through a detailed record of photos, notes and documents with evidentiary value. For the construction world, this is a step towards higher standards of transparency to ascertain responsibility even in the event of future problems.
Born in Campania from the intuition of three under-30 engineers, Chiara Maresca, Giulio Santabarbara and Marco Apollonia with experience in the sector, myAEDES was launched by LVenture Group with its LUISS EnLabs Acceleration Programme. Today, the software is used by thousands of professionals in Italy and Europe who produce more than 5,000 minutes monthly and have uploaded more than 100,000 certified photos and notes to the platform. Thanks to the new capital increase, myAEDES aims to strengthen its customer base in Italy, which is now growing strongly, and to increase its international presence. The start-up already operates in Spain, Germany and France, reference markets for the company’s international growth.
A growth that is also being driven by the market: more and more digital entrepreneurs and investors across Europe are identifying construction as the most promising sector for rapid technological advancement in a market that, at European level alone, reaches the impressive size of EUR 2 trillion. The impact that digital transformation is having on a sector that has not seen a real technological revolution since the introduction of CAD models, (now more than 50 years ago) make PropTech a major investment opportunity.