Q1 2026 is in the books, time to see how AEC-Tech kicked off the year.
The first quarter brought $983M in funding, making it the third strongest quarter since Q3 2023 and a step up from Q4's $550M.
Yet with the broader Tech/AI market running hot, AEC-Tech's share held flat at 0.3% - the lowest Q1 reading since 2024. Capital is moving, the sector just isn't moving faster than everything else.
The rolling 4-quarter view sits at $2,877M - steady, and well above pre-2021 baselines.
What else stood out in Q1:
\\ Series A/B spiked, seed is correcting: Growth-stage round sizes hit multi-year highs in ConTech (driven by a few large later stage rounds) - while seed activity is quietly pulling back.
\\ Concentration tightened back up: Top 4 deals captured 54% of Q1 funding, Top 10 took 74%. A reversal of Q4's healthier spread. One mega-round shapes the whole quarter.
\\ RoW leads market share for the first time: Driven by Fracttal's Series B, the Rest of World region posted a 0.6% AEC-Tech VC share, ahead of Europe+Israel (0.5%) and North America (0.3%).Top deals: Bedrock Robotics ($270M), Span.IO ($163M), Normal Computing ($50M), Helio Home ($50M), Fyld ($41M), Andercore ($40M, Foundamental portfolio)
\\ One new unicorn in Q1 - congrats Bedrock Robotics! Also worth flagging: EquipmentShare has graduated to the public/acquired column.
Does this match what you saw on the ground in Q1? Curious to hear your read.