Investors eye startups focused on automating construction

Investors are pumping in billions of dollars into the construction technology sector, according to a Wall Street Journal report and Construction Dive.

According to the report, research company CREtech found that venture capital investment in private construction technology firms increased from $352 million in 2016 to more than $6 billion in 2018. At the end of June, 2019 investments totaled more than $4 billion, signaling that capital investments into the sector this year could exceed those made in 2018.

Startups are poised to bring to market new technologies and techniques to raise construction efficiency. The products could help tame rising construction costs and address a persistent shortage of qualified trade workers.

Investors that make the right bets could reap big payoffs in an industry that experts say is ready for automation.

Aligning the BIM model with the owner’s asset management system is the crucial first step in creating a Digital Twin. By following these guidelines, organizations can harness the power of Digital Twins to optimize facility management, maintenance planning, and decision-making throughout the building’s lifecycle.

Woman on treadmill in healthcare facility

Designers | Jul 25, 2023

The latest 'five in focus' healthcare interior design trends

HMC Architects’ Five in Focus blog series explores the latest trends, ideas, and innovations shaping the future of healthcare design.

Digital Twin | Jul 17, 2023

Unlocking the power of digital twins: Maximizing success with OKRs

To effectively capitalize on digital twin technology, owners can align their efforts using objectives and key results (OKRs).

Standards | Jun 26, 2023

New Wi-Fi standard boosts indoor navigation, tracking accuracy in buildings

The recently released Wi-Fi standard, IEEE 802.11az enables more refined and accurate indoor location capabilities. As technology manufacturers incorporate the new standard in various devices, it will enable buildings, including malls, arenas, and stadiums, to provide new wayfinding and tracking features.

Virtual Reality | Jun 16, 2023

Can a VR-enabled AEC Firm transform building projects?

With the aid of virtual reality and 3D visualization technologies, designers, consultants, and their clients can envision a place as though the project were in a later stage.

Rogers-O'Brien's safety manager utilizes the Polar armband to monitor his biometrics while on the jobsite.

AEC Innovators | Jun 15, 2023

Rogers-O'Brien Construction pilots wearables to reduce heat-related injuries on jobsites

Rogers-O'Brien Construction (RO) has launched a pilot program utilizing SafeGuard, a safety-as-a-service platform for real-time health and safety risk assessment. Non-invasive wearables connected to SafeGuard continuously monitor personnel to prevent heat exhaustion on jobsites, reducing the risk of related injuries. RO is the first general contractor to pilot this program.

Contractors | May 26, 2023

Enhanced use of data is crucial for improving construction job site safety

Executives with major construction companies say new digital tools are allowing them to use data more effectively to reduce serious safety incidents and improve job site safety.