Building tech startup builds $3 million pre-Collection A after rebrand

Building engineering platform SPEC Toolbox has raised $3 million in a pre-Collection A.

The funding was co-led by Black Nova and Investible.

The Melbourne design software program platform particularly for mass timber development was based in 2023 by structural engineers Adam Jones and Ringo Thomas as CLT Toolbox, rebranded after realising that design bottlenecks weren’t only a mass timber downside. They now assist designers with technical limitations to make use of different fashionable supplies in development, automating advanced engineering duties.

SPEC beforehand raised $1 million bridge spherical in 2024, lower than 12 months after a $1.5 million Seed spherical in October 2023.

The startup’s backers embody Large Leap, Archangel, Ecotone, Australian Enterprise Companions, Impression Ventures, Understorey, Flying Fox, Gravel Highway, Exhort, Electrifi  and Power Lab.

SPEC Toolbox CEO Adam Jones mentioned the pre-Collection A validates their method to fixing the development trade’s affordability and sustainability challenges.

“With these funds, we’re accelerating our product roadmap, onboarding new suppliers in new product classes, deepening current technical infrastructure and accelerating our mission to make innovation simple to specify for engineers,” he mentioned.

Investible precept Ben Lindsay mentioned early buyer response to the product has been encouraging.

“We’ve been lucky to observe Adam and Ringo over the previous 12 months as they’ve first captured a clearly outlined cross-laminated timber area of interest and are actually thoughtfully increasing into the a lot bigger manufactured merchandise market,” he mentioned.

For the reason that 2024 Seed spherical, SPEC Toolbox has expanded into Europe, the UK, and North America, with greater than 6,000 person signups and 35 product suppliers.