26 May 20221 minute read

DLA Piper advises specialist decarbonisation investor OGCI Climate Investments on GBP15 million Converge financing

A cross-practice DLA Piper team has advised specialist decarbonisation investor OGCI Climate Investments (OGCI CI) on its leading of the series A investment round for technology company Converge, with GBP15 million mission-aligned preferred stock funding. Converge is accelerating decarbonisation in the construction sector, with a range of AI-based SaaS products and reality capture technologies driving efficiency, safety, and decarbonization of construction activities.

Converge’s flagship AI platform, ConstructionDNA, works with physical sensors located across construction sites to provide users with real-time data and actionable insights to improve efficiency and reduce emissions. Converge has focused its initial efforts on concrete, which is responsible for an estimated 8% of all GHG emissions. Using its technology, ready-mix suppliers are reliably and safely optimizing their concrete mix designs to significantly reduce GHG emissions.

Under the guidance of Leo Csaki, Legal Director of OGCI CI, the DLA Piper team was led by Corporate Partner Luca Gori and associates Alex Potop and Matthew Rose, and also included partners Jane Hannon and Anthony Day, senior associates Catriona Melton and Alasdair Muller and associate Jack Hugo.