ZURICH, Switzerland, December 6, 2023 ― Nabtesco Technology Ventures (NTV) has invested into Hiboo, which provides industrial equipment data solutions for the construction sector. The €9.3 million round, which was joined by Emerald Technology Ventures, ISAI Cap Venture, Future Industry Venture, Ring capital, and Citizen Capital will help Hiboo expand its sales pipeline and gain market share amid the rapid digitization of the built environment.
Paris, France-based Hiboo provides an integrated, one-stop window to equipment data for contractors and construction managers. As original equipment manufacturers (OEMs) increasingly employ in-house and third-party sensors to collect information about their equipment, Hiboo’s user-friendly, graphically rich interface weaves together this data for a variety of uses. The benefits of the insights generated include increased efficiency, reduced waste and the ability to spot maintenance needs before problems occur.
The construction industry comprises 13% of the global economy yet has been slow to engage in the kind of transformation efforts that typically spur productivity across other sectors. This leaves it vulnerable to bottlenecks and boom-and-bust cycles. It is also a drag on the industry’s sustainability performance: according to one study, construction and use of the built environment accounts for nearly 40% of global greenhouse gas emissions.
Hiboo’s data platform can help the construction equipment industry—which was valued at $176 billion in 2020 and is projected to add roughly another $100 billion by 2030—plug these gaps, tracking everything from distance traveled to carbon dioxide emissions. For instance, the company estimates it can reduce idle time of an asset by 10%, leading to better outcomes for climate and the bottom line alike. No longer will construction equipment data be a “black box” of minimal transparency.
NTV has been actively supporting startups that provide industrial optimization solutions. Recent activity includes an investment into Sensyn Robotics , a drone inspection service provider, and the acquisition of DeepSea, which provides route and system services for maritime applications.
Founded in 2017, Hiboo helps industrial companies improve the productivity and energy efficiency of their mobile industrial equipment fleets. Hiboo is a recognized player in construction tech and digital transformation. The company works with numerous players in the construction, waste and equipment rental sectors, and processes data from over 50,000 equipment in 50 countries. Awarded “Solar Impulse Efficient Solution” by the Solar Impulse Foundation, Hiboo uses its data management and analysis technologies to help reduce the carbon footprint of the industrial sector. For more information, please visit www.hiboo.io.
About Nabtesco Technology Ventures
Nabtesco Technology Ventures is a corporate venture fund launched in 2018 by Japan’s Nabtesco Corporation, in partnership with Emerald Technology Ventures, a global leader in technology venture capital. The fund deepens Nabtesco’s involvement in the development of disruptive ventures around the world, strengthening our pursuit of open innovation, a key pillar of our company’s growth strategy. The €75 million fund invests primarily, but not exclusively, in robotics, motors, sensors, additive manufacturing, artificial intelligence, and Internet of Things technologies. Nabtesco Technology Ventures reinforces Nabtesco Corporation’s position as a global leader in manufacturing technology, accelerating investment and collaboration around the world. For more information, please visit nabtesco-ventures.com.
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