Atlanta-based AI firm wins global construction tech contest

Dive Short:

  • The 2021 Development Startup Opposition, sponsored by Cemex Ventures, topped a gold medal prize winner and awarded 9 other major providers in the course of the competition’s Pitchday earlier this month, according to a push release.
  • The gold medal prize winner of the sixth annual competition was Atlanta-dependent business Document Crunch, which constructed an AI-run computer software platform of the exact identify that identifies and points out crucial challenges in building contracts. Doc Crunch, which is commercially accessible, also functions with building options, coverage procedures and additional.
  • The 10 winners were judged on their skill to present the most promising solutions inside 5 categories: carbon footprint mitigation, provide chain optimization, efficiency in the jobsite, innovative building components and new construction techniques.

Dive Insight:

The decided on startups gained sources and opportunities to advance their solutions and concepts by way of investments and pilot tasks, according to the launch. The occasion was also funded by:

  • Investment firm Dysruptek, the enterprise arm of typical contractor Haskell
  • Spanish transportation contractor Ferrovial
  • Venture cash agency GS Futures
  • Manufacturing firm Hilti
  • Vinci Group’s financial commitment arm Leonard
  • Nova by producing organization Saint-Gobain

During the competitors, the startups experienced the possibility to present their jobs to a jury composed of the prime representatives of every single organizing business, as effectively as an viewers of specialists in development, financial investment and innovation. The other 9 winning organizations are:

  • AI Clearing (United States) – SaaS platform that seamlessly integrates numerous facts sources into BI methods to give electronic insights. 
  • HyperTunnel (United Kingdom) – Patented a new technique to establish and renew tunnels and underground infrastructures.
  • Nodes & Hyperlinks (United Kingdom) – AI-primarily based system to generate smart devices to automate task management.
  • ObraLink (Chile) – Facts selection procedure to automate significant development web page actions these as concrete poured and formwork.
  • Presien (Australia) – AI vision systems to no cost hefty industries from the hazards that threaten the safety of their folks and business enterprise.
  • ProcurePro (Australia) – Electronic subcontractor procurement platform to near the digital hole in between bids and commitments.
  • RatedPower (Spain) – Cloud-based mostly program to have out the layout and engineering of utility-scale solar photovoltaic plants.
  • Schüttflix (Germany) – Platform to purchase, transportation, produce and dispose of bulk substance 100% digitally.
  • WasteBox (Austria) – Electronic squander administration system to quickly join customers with the correct disposal companion for their job.

Construction engineering investment is looking at a excellent yr, and will most likely only make improvements to with the passage and signing of the bipartisan infrastructure invoice in the United States. The act allocates $100 million pounds to financial investment in development technology, and customers in the contech space have lauded the move. Development engineering firms have had strong fundraising rounds this calendar year, and are even breaking financial investment data.

Contacting this year’s showing a results, Cemex Ventures is previously gearing up for the 2022 version of the award and “an even more promising circumstance for the Contech ecosystem,” according to the launch.

Lorrie R. Pedigo

Next Post

Federal contractor minimum wage to rise to $15 an hour

Fri Nov 26 , 2021
Dive Temporary: The U.S. Section of Labor introduced Monday a last rule utilizing President Joe Biden’s executive order increasing the federal contractor minimum amount wage from $10.95 to $15 an hour. The ultimate rule retains the Jan. 30, 2022, deadline by which businesses should include the new rate into new […]