BBBC 22/03/24 - $31m Dollars, 20x Revenue Growth and Straight Outta Y Combinator - PermitFlow & Furno

Welcome to the Bricks & Bytes Broadcast (BBBC) with Patric Hellermann of Foundamental.

This new format of episode is a weekly dive into the latest construction tech news from the perspective of investors. From innovations to fundings, market insights, and VC-isms, if you’re building in construction tech, investing in construction tech, or intersecting between the tech and physical world, then we’ll help you keep your finger on the pulse.

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In this conversation, Patric, Martin and Owen discuss two startups: PermitFlow and Furno.

They talk about the challenges faced by PermitFlow in dealing with the slow permit process in the construction industry and the potential for digitizing the planning process.

They also discuss Furno, which offers an alternative to traditional cement plants by providing modular portable kilns that can reduce CO2 emissions.

They explore the funding differences between capital-intensive startups like Furno and digital startups like PermitFlow. Martin also shares his thoughts on time leverage and being more productive.

Takeaways:

• Patric's worst investment decision
• PermitFlow is a startup that aims to digitize the planning process in the construction industry and streamline the permit process.
• Ferno offers modular portable kilns as an alternative to traditional cement plants, with the potential to reduce CO2 emissions by 88%.
• Capital-intensive startups like Ferno require significant investment for production, while digital startups like Permit Flow can attract more funding.
• Martin emphasizes the importance of time leverage and being productive to maximize efficiency and effectiveness.

Timestamps:

00:00 Introduction and Worst Investment Decision

(01:16) Discussion on PermitFlow

(12:49) PermitFlow's Funding and Capital Requirements

(14:36) Introduction to Furno Materials

(15:54) Investor's Thoughts on Furno Materials

(23:54) Closing Remarks

------------------------------------------------- Companies Mentioned:

• Permitflow - https://www.permitflow.com/
• Furno - https://furno.com/
• Foundamental - https://foundamental.com/
• Y Combinator - https://www.ycombinator.com/
• Kleiner Perkins - https://www.kleinerperkins.com/
• Felicis - https://www.felicis.com/
• Hoffmann Green Cement - https://www.ciments-hoffmann.com/
• Aker Solutions Norway - https://www.akersolutions.com/