LONDON-BASED NODES AND LINKS ANNOUNCES $11M SERIES A FUNDING TO RADICALLY CHANGE DELIVERY OF INFRASTRUCTURE PROJECTS
- New capital will be used to accelerate global rollout of projects from $3.5tn infrastructure spend
- Total funding now sits at $13M
London – 1st July 2021: Today Nodes & Links, a provider of AI and cloud tools that allow engineering projects to be delivered on time, on budget and with less waste, announces a $11 million Series A funding round. The investment is led by urban sustainability-focused fund 2150 alongside Zigg Capital and Westerly Winds, with participation from existing investors Entrepreneur First, ADV and Seedcamp.
Since its inception in 2018, the company’s flagship Aegis platform has delivered hundreds of millions of dollars in cost savings on infrastructure projects for major customers including Balfour Beatty, Costain and BAM Nuttal. Its product set is aimed at major project delivery companies, from energy and construction, to aerospace and defense.
A survey by Oxford University found that only 8% of infrastructure projects get delivered on time and on budget. McKinsey. Meanwhile, estimates that $4.5tn will need to be invested into infrastructure every year through 2030 to keep up with GDP growth and meet the UN sustainable development goals. An intelligent system that helps deliver these projects on time and on budget will be needed to ensure this sustainable infrastructure is delivered in time to meet the planet’s urgent needs.
Nodes and Links’ Aegis platform solves the persistent issues around mismanagement of major projects, the majority of which run significantly over time and over budget. It also forms part of a wider industry push to recognise the impact of major projects and the difficulty in ensuring longer term environmental, social and financial sustainability in an increasingly complex world. In Europe and the US, the European recovery deal and the Biden infrastructure plan respectively will invest $3 trillion over the next few years, much of which, it is predicted, will be spent on sustainable infrastructure.
By using AI, Nodes & Links allows infrastructure Project Managers and Risk Managers to analyse and act upon project risk in real time, thus ensuring that Trillions of dollars of sustainable infrastructure starts delivering benefits faster. It also minimises risk by taking ‘human error’ out of the equation for many tasks.
Nodes and Links will be using the new capital to continue its innovative work with leading universities and global leaders in the project delivery space, from energy and construction to aerospace and defense. It will also enhance its scenario testing AI engine and introduce new reporting and integration capabilities’
Nodes and Links CEO, Greg Lawton commented:
“Complex projects account for over 4% of the world’s GDP, yet only 8% of them complete on budget and on time. This is largely because humans are responsible for all tasks within projects, even the repetitive and complex ones they’re unsuited to, instead of the high-value, creative activities people are uniquely qualified for. By expanding our workforce to include machines, better decisions will be made and better projects delivered. We firmly believe that the work we’re doing is going to have the same impact as automation did in manufacturing and this new investment will help us accelerate its adoption for the common good.”
Christian Hernandez, Partner at 2150 said:
“The world is accelerating its investment into linear infrastructure, much of it with a focus on sustainability and resilience. Time is the biggest lever available to ensure that Trillions of dollars of projects starts delivering benefits to our planet and Nodes & Links has proven that they can help large and complex engineering projects deliver on that. We cannot wait years for these projects to be delivered, we cannot waste billions of dollars on delays, we cannot accept the resource waste that infrastructure projects suffer: this is why we are leading this investment round for Nodes & Links.”
Philip Powell, Digital Integration Manager at BAM Nuttall Ltd, said:
“We pride ourselves in leading the transformation of our industry. Using Nodes & Links has shown us what that future looks like, so that we can deliver efficiencies and gain valuable insights. We can resolve risks faster and effectively communicate them to the team, helping us deliver better projects to our clients and the broader community.”
About Nodes and Links
Nodes & Links is a technology company that works with global leaders in the project delivery space, from energy and construction to aerospace and defence. The company’s flagship Aegis platform uses complexity science and structured project data to help project managers simulate scenarios, identify complex risks and mitigate them in real time. As a result, projects are delivered faster and at less cost. Nodes and Links are backed by world-leading investors and innovate with leading universities. Find out more at https://www.nodeslinks.com/
2150 is a venture capital firm investing in technology companies that seek to sustainably reimagine and reshape the urban environment. 2150’s investment thesis focuses on major unsolved problems across what it calls the ‘Urban Stack’, which comprises every element of the built environment, from the way our cities are designed, constructed and powered, to the way people live, work and are cared for. Find out more at www.2150.vc and follow us on twitter here.