Varadise Limited, a construction technology startup based in Hong Kong, has raised $3 million in a Series A funding round headed by Betatron Venture Group.
The other investor is the Innovation and Technology Venture Fund, which is part of the Hong Kong Special Administrative Region Government’s Innovation and Technology Commission, according to a statement released by Betatron on Friday.
The statement claims that Varadise will speed up its international expansion, including into Southeast Asia, China, and the Middle East, by utilizing Betatron’s vast global network and in-depth industry knowledge.
By introducing locally created solutions to the global arena, the partnership seeks to position Varadise as a leader in innovative urbanism and built environment technology.
“This investment marks a pivotal moment in our journey,
“With Betatron’s support, we’re ready to bring our comprehensive solutions to cities across the globe,” said Terence Lui, Founder and Chief Executive Officer of Varadise.
“When I started Varadise with five young colleagues a few years back, we shared a bold vision to revolutionize how buildings and cities are constructed, operated, and managed through technology,
“Today, Varadise has grown to a team of over 90 young professionals averaging 30 years of age. We have proven that determination and innovation from young talent can transcend traditional industry boundaries,” he added.
Varadise is a digital engineering company based in Hong Kong that was founded in 2019 and is spearheading the built environment’s transition to smart cities.
The company, which offers complete solutions for building, facility, and city data management, uses cutting-edge Digital Twin technology and sophisticated analytics to revolutionize how people interact with and manage physical environments.
The company’s all-inclusive solutions cover every stage of the built environment lifecycle, from facility management and construction to urban data analytics, and they act as a catalyst for the development of more intelligent, sustainable, and inclusive urban communities across the globe.
By combining cutting-edge digital twin capabilities, geographic information systems (GIS), building information management (BIM), artificial intelligence (AI), and internet of things (IoT) sensors, its platform enhances the design, construction, and management of buildings.
The platform’s data-driven methodology supports organizations’ sustainability and environmental objectives by optimizing resource utilization.
Additionally, Varadise has a history of more than 100 successful projects, ranging from building and construction to major city-level projects.
The implementation of cutting-edge technologies like digital twins, artificial intelligence, and Internet of Things solutions is exemplified by the Tung Chung New Town Extension (TCNTE) project.
Over 400 models from 14 construction contracts across 30 companies are integrated into the project’s digital twin platform, illustrating successful digital collaboration in large-scale development.
