Remato raises €450K in seed funding
Remato raises €450K in seed funding

Estonia-based SaaS construction startup, Remato has raised €450K in a seed funding round held in September 2020, led by Thorgate Ventures along with participation from Lemonade Stand, Zenith Family Office, numerous Remato clients, and several prominent business angels such as Martin Villing (co-founder of Bolt), Martin Tajur and Martin Henk (co-founders of Pipedrive) among many others. 

Proceeds from the funding round will be used by Remato to develop its product. Secondly, to expand the sales and marketing team, and form international marketing and sales strategy.

Remato
Remato

Madis Lehtmets, Ranno Käomägi, Toomas Savisaar and Simon Puskai founded the startup in 2018. The startup’s goal is to make construction management stress-free.

Construction made easy!

Remato is developing a web and mobile app-based platform to enable MSME-sized (micro, small, and medium) construction enterprises that presently make use of papers, excel sheets, and countless email threads to operate. Its software simplifies and improves the management of a businesses’ staff, resources, tasks, and budget.

CEO Madis Lehtmets said, “Our goal is to digitize that part of the construction that has been largely ignored for a long time. We want to help companies who build and maintain our physical world.”

Remato's interface
Remato

As stated by the startup, construction is one of those industries which has still not been digitized while accounting for 10% of the world economy. It is a 10 trillion dollar industry where only 1.5% of the capital generated is invested in technology. This figure is 55% less compared to other industries which imply that construction businesses generally put in a lot of manual work. Above all, out-dated paper pen approach to perform tasks rendering it incompetent and unadaptable to changes. 

Similar to the renowned Estonian company Pipedrive that built a Salesforce substitute for smaller sales teams, Remato has built an alternative to the US company Procore for small and medium-size construction companies.

Remato's chat interface
Remato

Experienced construction businessman and an old client of Remato who also took part in the funding round, Indrek Laak emphasized the need for a platform like Remato. He further added that construction companies all over the globe face similar problems. Laak believes that Remato’s team has been progressing at a good rate and will soon become a success story.

Remato had raised €150K from Superangel, an Estonian venture capital fund and Thorgate Ventures in a pre-seed funding round held in September 2019.

About Thorgate Ventures

Thorgate Ventures is the seed-stage venture capital arm of Thorgate, mostly investing in expandable B2B solutions.

Their mission is to make use of technology to make the world a better place. They are looking for startups that have a balance of team culture, passion, logic, and execution power.

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Aishwarya writes about the startup ecosystem on VCBay. She is a third-year Computer Science engineering student who looks forward to exploring the world of startups and finance.

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