01/12/2021

Board Master

Change Begins At Home

Atlanta-based AI firm wins global construction tech contest

Dive Brief:

  • The 2021 Construction Startup Level of competition, sponsored by Cemex Ventures, crowned a gold medal prize winner and awarded 9 other prime organizations through the competition’s Pitchday before this month, in accordance to a push launch.
  • The gold medal prize winner of the sixth annual competitors was Atlanta-primarily based company Document Crunch, which created an AI-powered application platform of the similar title that identifies and clarifies crucial challenges in design contracts. Doc Crunch, which is commercially readily available, also operates with design options, insurance plan insurance policies and far more.
  • The 10 winners were being judged on their capacity to give the most promising remedies inside of five types: carbon footprint mitigation, supply chain optimization, performance in the jobsite, superior developing resources and new development methods.

Dive Perception:

The selected startups won methods and chances to progress their products and solutions and strategies by investments and pilot initiatives, in accordance to the release. The function was also funded by:

  • Financial investment company Dysruptek, the enterprise arm of common contractor Haskell
  • Spanish transportation contractor Ferrovial
  • Enterprise cash organization GS Futures
  • Producing business Hilti
  • Vinci Group’s investment decision arm Leonard
  • Nova by production business Saint-Gobain

In the course of the opposition, the startups had the option to present their initiatives to a jury composed of the prime representatives of each organizing business, as effectively as an audience of professionals in development, financial commitment and innovation. The other nine profitable firms are:

  • AI Clearing (United States) – SaaS platform that seamlessly integrates several data resources into BI devices to offer electronic insights. 
  • HyperTunnel (United Kingdom) – Patented a new process to establish and renew tunnels and underground infrastructures.
  • Nodes & Back links (United Kingdom) – AI-centered platform to develop good equipment to automate undertaking administration.
  • ObraLink (Chile) – Information assortment system to automate essential development website activities this sort of as concrete poured and formwork.
  • Presien (Australia) – AI eyesight units to free of charge major industries from the risks that threaten the protection of their folks and company.
  • ProcurePro (Australia) – Electronic subcontractor procurement system to close the electronic hole in between bids and commitments.
  • RatedPower (Spain) – Cloud-dependent software program to have out the layout and engineering of utility-scale solar photovoltaic crops.
  • Schüttflix (Germany) – Platform to purchase, transport, deliver and dispose of bulk product 100% digitally.
  • WasteBox (Austria) – Digital waste management platform to quickly connect buyers with the correct disposal partner for their challenge.

Development technological know-how expense is observing a very good calendar year, and will very likely only strengthen with the passage and signing of the bipartisan infrastructure monthly bill in the United States. The act allocates $100 million pounds to financial commitment in design technology, and customers in the contech house have lauded the transfer. Design technology companies have had strong fundraising rounds this 12 months, and are even breaking investment data.

Calling this year’s showing a achievements, Cemex Ventures is currently gearing up for the 2022 edition of the award and “an even more promising state of affairs for the Contech ecosystem,” according to the release.