SketchDeck.ai secured at least $150,000 at Startup TNT's ninth investment summit on June 13 as founder and CEO Daniel Kamau used his company's growth to land his third pitch since 2021.
"We've seen some early traction with expanding into the U.S.," Kamau told Taproot at the event at Edmonton Unlimited. "My hope is we can take these funds and invest in marketing and sales, and continue to grow and deliver the early value that we've started to uncover for these companies."
SketchDeck.ai applies artificial intelligence and machine learning to automate estimates in the construction industry, a space Kamau knows well as a structural engineer. Kamau first pitched a pilot to Startup TNT in 2021, and a second pitch in 2022 landed a side deal. Since then, he said his company has grown to 16 customers, a trajectory that was persuasive at the summit.
"I think it's showing progress over time," Kamau said.
The summit was Startup TNT's ninth in Edmonton since its founding in 2019, though the group has also hosted three sector summits in the city. The organization has held 30 summits across the Prairies that have collectively funded more than 90 companies and raised nearly $13 million in the process, the Startup TNT website reads.
Of that total, $3.9 million has gone to 29 Edmonton companies before the SketchDeck.ai deal, Startup TNT co-founder Zack Storms said.
Five finalists pitched at the Edmonton summit, including SketchDeck.ai. Finalist Aqua-Cell Energy manufactures a battery that uses saltwater to store electricity created by solar panels. CityScan Technologies uses emerging technology to offer monitoring and management solutions for the owners and operators of transportation networks. Northernmost works to modernize logistics for kidney transplants. Swift Charge, a recent Edmonton Edge Fund recipient, offers microgrid tech for charging electric vehicles.
Storms also announced a side deal with Northernmost at the summit.
Fifteen companies also pitched at Startup TNT summits held in Calgary, Saskatoon, and Winnipeg on June 13, or five companies in each city. QuoteToMe, which streamlines purchasing in the construction industry and has offices in both Edmonton and Winnipeg, also won investment at its pitch in Winnipeg.
Storms said concrete progress and a great opportunity convinced the Startup TNT group to invest at least $150,000 in SketchDeck.ai, though deals can grow from here. "They're the first company that previously raised in Edmonton as a side deal, came back a year and a half later, and we can see the progress," Storms said. "This is a founder that went from having almost no customers, maybe one or two, (to) making things happen."