Information Technology
British tunnelling start-up hyperTunnel backed by VINCI
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 in Miami last year, which Leonard co-organises with other sector heavyweights such as Ferrovial and Cemex Ventures.
" ," said Guillaume Bazouin, Head of Start-up and Intrapreneurs programs at Leonard. " ."
hyperTunnel co-founder Jeremy Hammond added, " ."
Aquaa Partners acted as exclusive financial adviser to hyperTunnel on the transaction.
Last week, the European Innovation Council (EIC), Europe's flagship innovation programme 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.
hyperTunnel is a deep tech scale-up developing a revolutionary methodology for tunnels and underground schemes substantially faster, safer, more economically and more environmentally friendly than current techniques. hyperTunnel uses a unique combination of proven technologies from diverse industries – digital twins, robotics, 3D-printing and digital underground surveying, supported by AI and VR – to redefine possibilities in tunnel construction, enlargement, monitoring and repair.
Founded in 2018, hyperTunnel employs 40 people located at its Basingstoke headquarters, and outdoor learning environment (the hOLE) and Geolab in the North Hampshire Downs.
In 2021, hyperTunnel announced a contract with Network Rail. hyperTunnel has received a string of awards and funding of 1.88 m Euros from the European Innovation Council (EIC)'s EIC Accelerator scheme. hyperTunnel was recently picked by the government's Innovate UK agency to join its Global Business Innovation Programme. It won Startup of the Year at this year's Construction Technology Awards; was highlighted as a Top 50 Contech Startup and among 10 winners of the global Construction Startup Competition.
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