hyperTunnel reaches KPMG Tech Innovator shortlist, receives investment from Vinci
In the latest in a string of accolades recognising its innovation, market potential and environmental credentials, hyperTunnel has been shortlisted in KPMG’s prestigious Tech Innovator in the UK competition for 2022. hyperTunnel’s Director of Engineering, Patrick Lane-Nott will pitch against businesses from across the South of England later this month to secure a place in the national finals in July.
“This is fantastic news,” enthused co Founder Steve Jordan. “It’s another great platform for us to tell people about our radically different approach to underground construction and the enormous benefits it stands to bring to society. We’re really excited about what we’re doing and what we’ve already achieved, so we’re delighted to have the opportunity to share that excitement with industry experts at KPMG and our peers in other sectors.”
Since 2013, the Tech Innovator prize has shone a spotlight on the game changers, disruptors and tech titans of the future. As well as being recognized among the world’s most successful technology innovators, finalists receive exclusive networking opportunities with like-minded peers and key influencers.
hyperTunnel’s shortlisting follows a string of other awards it has recently received from business, innovation and technology experts. As well as securing financial packages from VINCI investment and the European Innovation Council, hyperTunnel was recently picked by the UK government’s Innovate UK agency to join its?Global Business Innovation Program. Earlier this month, it was named?Startup of the Year at the Construction Technology Awards 2022 in Dubai. In 2021, hyperTunnel?was highlighted as a?Top 50 Contech?Startup?and was among 10
hyperTunnel also announced that it has received a financial investment from VINCI, a global leader in concessions, energy and construction businesses. The funds will be used for business expansion and to further develop and test hyperTunnel’s revolutionary construction method in practical situations.
The deal further strengthens hyperTunnel’s connections with VINCI Construction technical departments. hyperTunnel recently joined VINCI’s innovation platform Leonard as a member of its start-up accelerator programme, Catalyst. hyperTunnel also won the prestigious annual Construction Start-up Competition in Miami last year, which Leonard co-organises with other sector heavyweights such as Ferrovial and Cemex Ventures.
“hyperTunnel’s technology can be truly game-changing when it comes to improving the safety and sustainability of underground construction projects,” said Guillaume Bazouin, Head of Start-up and Intrapreneurs programs at Leonard. “It strongly aligns with our goals of rapidly responding to the climate emergency by enabling technological advances that have a substantial environmental impact. hyperTunnel also boasts exceptional leadership and engineering teams, and we are looking to support their great success in the near future.”
hyperTunnel co-founder Jeremy Hammond added, “VINCI and Leonard are real experts when it comes to construction innovation, so to get their backing in such a concrete and substantial way means we must be doing something right. They can see the huge potential of the technologies we’re developing, and they share our passion for improving how the world works. We’re excited to see what we can achieve together over the coming months.”
Aquaa Partners acted as exclusive financial adviser to hyperTunnel on the transaction.
Previously, the European Innovation Council (EIC), Europe’s flagship innovation program to identify, develop and scale up breakthrough technologies and game-changing innovations, selected hyperTunnel to receive funding of 1.88 million Euros under its EIC Accelerator scheme. The funding will be used to complete the development of hyperTunnel’s advanced swarm robotics underground construction platform.