Amsterdam, May 21, 2025 — Move Energy is pleased to announce its participation in a EUR 20 million investment round in Converge, a UK-based leader in AI-powered concrete management and decarbonization technologies. The round was led by ABN AMRO Sustainable Impact Fund (SIF) and includes participation from existing investor Climate Investment (CI), and welcomed new investors PI Impact and J-Impact, alongside other existing investors
This investment round will accelerate Converge’s commercial growth and facilitate the development of its innovative solutions. Concrete production accounts for approximately 8% of global CO₂ emissions, making it a key focus for decarbonization. Converge is at the forefront of integrating advanced technologies into the construction industry. With a global presence, its flagship platform, ConcreteDNA, offers a suite of solutions for generative and predictive AI mix insights, real-time concrete monitoring and data management. These innovations empower contractors to make faster, data-driven decisions, reduce embodied carbon, and minimize resource waste – tackling both inefficiencies and environmental challenges in construction.
Mirjam Terhorst, Partner at Move Energy, stated:
“Converge aligns well with our investment strategy. At Move Energy, we invest in European ventures that contribute to the decarbonization of the built environment. Converge’s product suite, ConcreteDNA, helps contractors and producers reduce the carbon footprint by optimizing concrete operations and mix designs, while simultaneously reducing costs. We look forward to working together with Converge’s excellent team.”
Raphael Scheps, CEO & Co-founder of Converge, commented:
“This investment round, led by ABN AMRO and supported by a consortium of leading impact investors, will empower Converge to accelerate decarbonization across the concrete industry. Converge is driving groundbreaking advancements in generative and predictive AI models for material optimization. This new capital raise will enable us to rapidly develop and scale these technologies globally. We’re excited to enter this new chapter in our journey towards building a safer, more efficient, and more sustainable future for concrete.”
This investment marks a shared commitment by the investors and Converge to accelerate the adoption of smart, low-carbon technologies across the construction industry, contributing to a more sustainable and efficient built environment.
About Converge
Converge is a London-based construction technology company founded in 2014. It leverages powerful AI models, proprietary sensor data, and advanced software capabilities to optimize concrete usage and production, reducing carbon emissions. The company’s mission is to help the construction sector build a net-zero future more efficiently through AI, sensors, and data.
ConcreteDNA, Converge’s flagship platform, integrates generative and predictive AI models, sensor-based concrete monitoring, and real-time data management to track and simulate concrete performance, optimize mix designs, and minimize inefficiencies—saving valuable time and emissions.
About Move Energy
Move Energy is an early-stage venture capital firm dedicated to supporting companies pioneering hardware and software solutions to decarbonize the power, transport, and buildings sectors. With a focus on impact-driven investments, Move Energy aims to support the next generation of transformative ventures contributing to a more sustainable world. Move Energy is headquartered in Amsterdam and is backed by InvestNL, the European Investment Fund, family offices, and private investors.