SenSat | Six Construction Technology Startups to Watch

CONSTRUCTION | Technology

Six Trailblazing Construction Technology Startups

to Watch

 

The construction technology space is growing rapidly with investor capital flowing into the sector globally.

Mia Monaghan

19.08.2019 // 4 minute read


Data from Crunchbase shows that for the entire 2018, the US alone recorded nearly $3.1 billion in investment, more than quadruple that of 2017 ($731 million).

 

With that, we decided to round up some of the startups that have us excited to be in this space right now. Below you'll find a wide range of startups in the construction technology industry - from IoT connected sensors to AI software.

 

1. Converge

 

Founded in 2014 and HQ’d in London, Converge are working to make concrete monitoring more efficient through automated, continuous data collection and analytics.

 

At the moment it takes manual monitoring, lab tests, and over-pouring to raise buildings. Not only is the process inefficient and expensive, but it’s also damaging to the environment. Converge are aiming to solve this issue by building a generation of wireless sensors and cloud-based technologies to monitor concrete in real-time.

 

Their platform receives all the data about your concrete which you can access on your PC or mobile.

 

Check them out here.

2. nPlan

nPlan is a seed-funded startup HQ'd in London. They’re using machine learning to analyse construction schedules, by determining where the biggest risks lie and recommending optimal execution paths in order to bring schedule certainty to projects.

 

Their machine learning engine is able to digest hundreds of millions of schedule tasks to detect patterns and generate predictions.

 

The mindset towards risk in the construction industry is largely conservative. While this means that the UK has cost-conscious contractors who deliver excellent infrastructure at value, it’s resulted in an industry constantly under pressure to seek a margin. According to the CFMA, pre-tax net profit for general contractors is between 1.4 and 2.4%. By bringing schedule certainty to projects, nPlan is working to mitigate risk.

 

Visit their website here.

3. BuildStream

BuildStream is an IoT and machine learning platform which optimises the use of heavy equipment used in major infrastructure and civil engineering projects.

 

Their proprietary IoT hardware enables machinery such as excavators, drilling rigs, dozers and trucks to capture and analyze highly detailed data from a variety of sensors which is communicated to their management platform in real-time. You are able to track heavy equipment & logistics performance across all supply chain partners for any project and share any relevant info with project teams.

 

Visit their website here.

4. GenieBelt

GenieBelt have a real-time construction management software & mobile app that enables site teams to collaborate and communicate efficiently with the office.

 

Historically, blueprints, reports, updates, and other paperwork have been recorded using pen and paper and passed around manually or communicated via phone calls. A system like this is ripe with potential mistakes that lead to mistakes and cost overruns.

 

Geniebelt are digitising this process by creating updated project reports and sharing them instantly.

 

Check them out here.

5. IAND

 

Founded in 2014, IAND is a digital project control platform that offers full clarity on agreements between project owners and their suppliers.

 

The platform digitises project control and contract management as well as supplier relationship management and reporting. Real-time insights provide transparency on supplier risk, spend and performance.

 

Visit their website here.

6. SenSat

SenSat is a B2B SaaS startup based in London. We build digital simulations of the real world to help computers solve complex problems. Our simulated reality platform Mapp® allows companies in the construction industry to make more informed decisions based on real site data.

 

Mapp​®​ enables better decision making through a simple and intuitive interface, allowing clients to combine varied 3D datasets into a single common environment. Mapp® integrates 3D topographic data with other dynamic datasets such as CAD designs, environmental data, and transport data in order to create a real-time, interactive virtual model with a high degree of accuracy. Anyone, both on and off-site, is able to analyse and manage their project throughout its lifecycle via any computer or smart device.

 

Want to see a demo? Click here.

Construction may not be as lustrous of an industry, but there is definitely more buzz around the tech space than ever before. At a time where Brick & Mortar Ventures, a venture firm with deep domain expertise, has closed on a $97.2 million fund to focus on construction tech investing - it’s definitely an interesting space to be in.

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