The German government recognizes research and development expenses of the Berlin-based ConTech startup Flexcavo amounting to USD 12 million. By 2025, this will offset a total of USD 2.7 million in personnel costs associated with projects for greater sustainability and digitalization in the construction industry at Flexcavo.
Orchestrated ecosystem for construction machinery and construction sites
Flexcavo was founded in 2020 by Benedict Aicher and Leonhard Fricke with the aim of optimizing the use of construction machinery through software solutions and innovative technology. On the one hand, Flexcavo owns and rents construction machinery and equipment from well-known manufacturers to construction companies. On the other hand, it develops cloud-based software that can be used to flexibly manage entire fleets as well as construction projects and processes. Due to its personal proximity to the construction equipment rental industry, Flexcavo knows exactly how the problems of construction fleet management can be solved digitally.
As a pioneer in the digitalization of the construction industry, Flexcavo enables the exchange of machine and logistics data between new and existing IT systems via API interfaces to create an orchestrated ecosystem for construction machines and construction sites. Cross-vendor integration and processing of telematics data in a custom-developed user interface allows a machine's operational data to be combined with fleet management data, providing a detailed overview of the entire fleet and ongoing processes. Real-time data collection and cloud-based storage of information result in faster and easier data transfer. Construction companies not only benefit from economic advantages, such as lower costs and more productivity, along the lifecycle of a construction machine, but can also save CO2 emissions and count on more automated and optimized processes overall.
Long-term added value for managers and dispatchers
Among other things, Flexcavo is developing models for automated, intelligent job sites to not only accelerate digitalization in construction, but also to reduce the environmental footprint of construction companies and create digital twins of machines. Since many construction companies do not use data-driven decision-making software, the Berlin-based company is creating a new approach to solving the problem with its software for optimizing the use of construction machinery. The digital mapping of processes that were previously carried out analogously, such as the scheduling of machines, the circulation of delivery bills as well as construction site and cost documentation and the manufacturer-independent standardization of telematics data have already been successfully used in practice several times in the current development stage of the software.
In addition to investing in research and development projects, Flexcavo is planning further growth to make the construction industry more digital and sustainable in the long term. In September 2021, the company received around USD 6.5 million in its seed funding round, primarily to grow the team. In February 2022, the capital was topped up again by around USD 8 million in debt capital for the expansion of the machine fleets, which are already running completely carbon-neutral. Also, for the Flexcavos operating system many new functions are already being developed.
On March 29th 2022, CEO Leonhard Fricke will hold a speech on Flexcavo's intelligent software solution at the Construction Summit in Hamburg. There will also be a webinar by Flexcavo about the fleet management of the future on the platform of Baugewerbe Magazin on March 30th 2022. Register here for the Construction Summit or here for the Baugewerbe webinar.