Podium, a cloud-based digital platform based in Singapore, announced Thursday that it had successfully closed its first round of Series A-1 funding, raising S$20.4 million ($15.2 million).
According to a statement from Podium, Swiss escalator manufacturer Schindler participated in the round, which was led by the multinational software company Autodesk.
According to Podium, the investments made by Autodesk and other participants in the Series A-1 round demonstrate a high level of group confidence in the company’s capacity to quicken the built environment’s digital transformation.
Podium is in advanced talks with supply chain partners, government agencies, design consultants, and real estate developers in Australia and Singapore, two important markets where this new capital infusion will speed up growth.
“Our Series A-1 funding marks a significant milestone in Podium’s journey to reshape the built environment industry,
“With Autodesk’s support, we are well-positioned to further scale our platform and continue driving innovation across the entire property lifecycle—from design to supply chain integration and building delivery,” said Pankaj Srivastava, Chief Executive Officer, Podium.
Podium, a cloud-based digital platform for industrialized construction and Design for Manufacturing and Assembly (DfMA), was founded in Singapore and has offices in Silicon Valley and Sydney.
The company’s cutting-edge software as a service (SaaS) platform automates workflows to meet outcome-based design milestones, speeding up the design-to-supply process.
With real-time insights into cost, time, buildability, and sustainability, stakeholders can now optimize designs.
Podium offers immediate feedback by connecting APIs and incorporating a DfMA-ready “kit of parts” that is directly defined by suppliers, ensuring that briefed results are in line with design intent.
The statement predicts that by 2028, the demand for sustainable buildings will reach S$748 billion ($557 billion) globally in Asia alone, while the demand for construction will reach S$38 billion ($28.31 billion) in the same year.
The platform from Podium tackles the major issues that the built environment is currently facing, such as low productivity, excessive waste, cost inefficiencies, and the increasing demand for sustainable building practices.
“Autodesk’s investment in Podium represents a significant step forward in our commitment to advancing outcome-based building information modelling (BIM) for the architecture, engineering, construction and operations (AECO) industry,
“While Autodesk Forma provides planning and early-stage building and site design for architects, Podium’s engineering capabilities in Structure & MEP that advance the manufacturability of buildings are a natural progression towards our vision to streamline processes across the project lifecycle,” said Nicolas Mangon, Vice President of AEC Industry Strategy, Autodesk.
