Construction tech startup Varicon nails $2.25 million Seed round

Tasmanian startup Varicon has raised $2.25 million in a Seed round for its construction cost management software.

The round was led by Sydney VC Black Nova, supported by Andrew Sypkes, Galileo Ventures and Artesian, as well as strategic industry players Slattery Construction chair Josh Slattery, Tidal Ventures co-founder Murray Bleach, Aconex co-founder Leigh Jasper, and the founders of BlackCap Construction Group.

The fresh funds – the startup raised $440,000 from Galileo Ventures, Spykes and others 12 months ago – will underpin national expansion plans to serve medium-to-large construction firms across sectors, including civil contractors, public infrastructure developers, property developers, roads and transport, and demolition contractors.

Co-founder James Baker hopes the software platform will save construction firms billions through cloud-native cost management and real-time analytics.

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