Construction tech startup Hubble raises S$11.35m in Series B funding

CONSTRUCTION management platform Hubble has raised S$11.35 million in Series B funding, with new investors including Taronga Ventures, Kajima Ventures, the venture arm of Japan's Kajima Corp, and Seeds Capital, the investment arm of Enterprise Singapore.

Existing investors that participated in Hubble's latest fundraise include OSK Capital Partners of Malaysia and Singapore-based Aurum Investments and Tin Men Capital.

Founded in 2016, Hubble specialises in enterprise software solutions for workforce, safety, quality and pre-fabrication management in the construction industry. The startup operates in Singapore and Malaysia, with over 56,000 users across 2,300 companies.

Hubble plans to grow its research and development (R&D) capabilities, as well as expand to other South-east Asian markets and Hong Kong as it rides the digitalisation trend. The company said that its revenue has grown threefold since its first external fundraising in Q2 2020.

"Our focus will be on expanding our presence and serving a more global clientele, and ensuring our suite of solutions makes Hubble the most compelling and comprehensive offering in the market," said Lin Shijing, co-founder and CEO of Hubble. He added that the startup will launch a new product this year.

Taronga Ventures' co-founder and managing partner Avi Naidu said that his firm is pleased to support Hubble's growth, so more companies in Asia are able to move away from heavily manual processes. Based in Singapore and Sydney, Taronga Ventures invests in tech in the real estate and built environment sectors.

Kajima Ventures' managing director Shingo Hori noted that his company is a user of Hubble, and "is excited to be growing our relationship with Hubble from that of customer to investor".

Added Tin Men's Jeremy Tan: "It speaks volumes about the level of investor confidence in Hubble's products and its scalability beyond its existing markets; and we look forward to seeing the integral, strategic roles each will play in charting Hubble's next phase of growth."