How this tech platform is aiming to be 'Skyscanner' of building materials
“[This] is an incredibly exciting concept that has the potential to revolutionise the construction industry.”
A tech start-up that aims to “revolutionise” the way construction materials are bought, like a Skyscanner for the industry, has raised about £1 million from investors – hailed by a former senior executive of the travel search giant who has a role on its board.
BuildBuddy, co-founded by Scottish entrepreneur Jamie Menzies and Alix Baldwin, is billed as a web platform that uses pioneering technology including artificial intelligence to find economically priced construction materials for the UK’s 330,000 smaller building firms.
It said the website works in a similar way to Skyscanner, scouring the web for the best deals with the most suitable delivery terms, with builders saving as much as 14 per cent on a typical order.
East Lothian-born Menzies said he came up with the concept after experiencing frustrations with the cost of building materials while managing his own construction company, Zebra Property Group, which has offices in Edinburgh and London.
He teamed up with Baldwin, a former MD of price comparison site Funeral Choice, and the duo have now raised the £1m of seed capital to support the platform’s rollout. They have also recruited former Skyscanner executive and East Lothian-based tech expert Shane Corstorphine as a board advisor.
Menzies hailed the fundraise as “a huge milestone” for BuildBuddy. He added: “As any builder will know, securing high-quality materials at the right price is not only hugely time-consuming, but extremely expensive. Just as Skyscanner has helped travellers find the best deals on flights, BuildBuddy will streamline the process of purchasing construction materials… [it] is an incredibly exciting concept that has the potential to revolutionise the construction industry.”
Baldwin added: “With as much as £72 billion spent on construction materials every year in the UK, this is a huge market that is ripe for innovation. Raising £1m is a clear endorsement of BuildBuddy’s potential, and we cannot wait to take our next steps. Skyscanner and many other companies reflect the quality and depth of Scotland’s tech industry, and we are excited for BuildBuddy to become a major player in this vibrant sector.”
Corstorphine added: “BuildBuddy is an ingenious idea and – as this landmark investment shows – Jamie and Alix are exceptionally well-equipped to execute it.”
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