ClimateCrete Raises $3.3 Million to Revolutionize Concrete Production - Causeartist
Summary
ClimateCrete, a startup in sustainable construction, has announced the successful close of a $3.3 million Series A funding round.Led by Silicon Valley VC firm Capital K, known for its focus on deep tech startups, the funding round also saw participation from KAUST Innovation Ventures, the venture arm of Saudi Arabias prestigious King Abdullah University of Science and Technology (KAUST). In Saudi Arabia alone, over a trillion dollars in new construction is underway, and the kingdoms reliance on importing more than 30 million tons of sand annually raises concerns about supply chain vulnerabilities. With an executable first pilot program to prove its technology and solution, ClimateCrete is positioned to establish a path for unprecedented growth within the construction manufacturing industry in Saudi Arabia and the region. William McDonough, Co-founder of ClimateCreteGuiding ClimateCrete through this exciting phase of growth is Peter Hadrovic, the newly appointed CEO.Hadrovics extensive experience in Silicon Valley, including roles as CEO at Integrated Tactical Technologies, CEO at Sonitus Technologies, and SVP at Adamas Pharmaceuticals, positions him as a dynamic leader with a proven track record of success.I am thrilled to lead ClimateCrete into this next chapter. The potential for sustainable construction is enormous, and ClimateCretes innovative approach is well-poised to make a lasting impact on the industry.