Tangible, a software platform for decarbonizing construction has raised $3 million in a funding round co-led by Prologis Ventures and Pi Labs. Additional investors include Foundamental, Silence VC, and RE Angels. This milestone positions Tangible to accelerate its mission of reducing embodied carbon and transforming material decision-making in the construction and real estate industries.

“We’re delighted to be working with these leading built world investors, as well as the venture arm of one of the largest real estate developers in the world. This clearly demonstrates the pain point real estate developers currently face in understanding the impact of their materials decisions throughout the construction process, not to mention meeting requirements and reporting to dozens of different entities,” said Anneli Tostar, CEO and Co-Founder of Tangible.

Embodied carbon, or the emissions associated with building materials and construction, is responsible for 11% of global greenhouse gas emissions, a figure that is set to rise in the next 5 years. Tangible’s innovative platform simplifies rapid measurement and reduction of embodied carbon, empowering developers to mitigate their environmental impact while meeting growing sustainability demands.

“Although embodied carbon is still a novel concept in the U.S., it’s gaining traction rapidly,” added Tostar. “Real estate and construction leaders are embracing tools like Tangible to drive better material choices, meet compliance requirements and enhance sustainability practices across their portfolios.”

Founded in 2021 and launching commercially in 2023, Tangible has been a trailblazer in the sustainable construction space. Since its founding, Tangible has raised $7m in total, launched across the U.S. and Canada, participated in the Suffolk Technologies’ BOOST program, and is working with leading firms like Skanska Commercial Development, Bosa Properties, and Hensel Phelps.

“As our first investment in the embodied carbon solutions space, adding Tangible to the Prologis Ventures’ portfolio is another way we are supporting construction innovation and sustainable growth across the logistics sector,” said Todd Lewis, Senior Vice President, Prologis Ventures. “We look forward to working together to improve the carbon impact of projects in the logistics space.”

Stefania Ponzo, Partner at Pi Labs, commented: “It is incredibly exciting to continue backing Anneli and Nicole’s fast growth journey to solve a critical global industry challenge, with built environment decarbonization efforts set to accelerate in the coming years. Our investment reflects the confidence in the exceptional founding team and their market-leading solution to accurately model the carbon profile of real estate developments."