Construction tech start-up Schüttflix raises $50m to expand in Europe

30 Sep 2021

From left: Christian Hülsewig, Thomas Hagedorn and Sophia Thomalla. Image: Schüttflix

The German start-up got a funding boost led by Draper Esprit to expand in Austria, Poland and the Czech Republic with its digital platform.

Schüttflix has raised $50m in Series A funding led by Draper Esprit to expand its construction tech business in Europe.

The German start-up has developed a digital logistics hub that supplies sand, gravel and grit to the construction industry. It aims to connect producers, suppliers and buyers faster than traditional services while also reducing costs.

The latest funding round also saw participation from Schüttflix co-founders Thomas Hagedorn and CEO Christian Hülsewig, along with HV Capital, Speedinvest and construction company Strabag.

Schüttflix will use the funding to expand its business in the Austrian, Polish and Czech markets next year – three markets that company said have high growth potential and strong links to its existing network in Germany.

“Following our successful expansion in the German market this year, now is the strategically right moment for us to grow in Europe,” said Hülsewig.

“Government investment programmes, such as the Green Deal and the post-coronavirus recovery fund, will ensure that orders in the construction industry remain strong over the long term.”

Breaking into a ‘traditionally analogue market’

Schüttflix will also invest in developing new digital products for the construction supply and waste disposal sectors. Last year, the start-up raised €8m in a funding round led by Speedinvest, with support from the founders.

“European construction sites need a reliable and efficient supply. With Schüttflix, we have the solution,” Hülsewig added.

Draper Esprit investment director Christoph Hornung said Schüttflix had delivered more than 2.5m tonnes of construction materials since its foundation.

“The start-up has broken into a traditionally analogue market and is creating genuine added value for its customers with a truly digital solution,” he said.

“The business has grown by more than 400pc since January 2021. Taking the platform international is therefore the next logical step and we are pleased to be at Schüttflix’s side.”

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Vish Gain is a journalist with Silicon Republic