It’s another exciting week for both the SaaS and sustainability communities in Atlanta.
Cove.tool, an Atlanta-based B2B automated platform that make building construction more energy efficient, has closed $5.7 million Series A investment round, according to a press release on their website. The round was led by Los Angeles-based Mucker Capital.
The platform helps automate energy modeling tasks for architects, engineers, and contractors. The platform can help those working on new and existing buildings save time calculating energy, radiation, embodied carbon, and many other important targets to ensure that building sites hit safety and sustainability goals.
“As [architects] are thinking about their model, we really want them to have sustainability as one of their core principles, not just as an added service, or something that qualifies them for some LEED credit,” cove.tool’s Daniel Chopson told Hypepotamus.
According to the startup’s website, the platform not only helps architects and contractors go green more easily; it can help significantly cut down on costly consulting hours associated with tracking such targets.
Since the start of the COVID pandemic, the team added an occupancy tool to help ensure those inside a building are maintaining health and safety guidelines.
Chopson told Hypepotamus that COVID has highlighted the need to build both sustainably and cost effectively. “Even before COVID, folks would sometimes be more focused on just saving money on their design more so than sustainability.”
“With everyone now working remotely, architects and engineers have used cove.tool more because it provides a collaborative environment. One of the key things is reducing the feedback loop on the decision-making process” between architects, mechanical engineers, and many other contractors involved in a building project.
The platform has also added urban design and mapping tools to the platform over the summer.
According to cove.tool, their platform has attracted users from over 22 countries and is already being taught as part of education curriculum at CalTech, Georgia Tech, University of Illinois, and UNC Charlotte.
Hypepotamus spoke with cove.tool’s co-founder Sandeep Ahuja after the startup raised their first seed round back in 2018.
Since then, the team behind cove.tool says that interest in their platform and sustainability initiatives has only gone up.
“Demand for new buildings and construction is only increasing. It’s our goal to empower architects and builders with the tools needed to achieve their targets and save on time and costs, while also reducing carbon emissions in the fight against climate change in the process,” said Ahuja in a statement. “We are extremely grateful for the incredible support we’ve received from Mucker Capital and look forward to working together to apply their software expertise as we continue to scale our technology.”
Previous investors in cove.tool include Atlanta’s own Tech Square Labs, Knoll Ventures, and Urban.us.
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