Funding and M&A

Construction Tech Innovator, Brickeye, Completes Significant Investment Round

Brickeye, a leading construction IoT and data analytics technology company, announces the successful first closing of a $10 million investment round. The company welcomed new investors BDC Capital’s IP-backed Financing Fund and Graphite Ventures, with additional funding from existing investors GreenSky Ventures, Brightspark, EDC, and MaRS Investment Accelerator Fund. Harnessing the power of Internet of Things (IoT) technology, Brickeye's suite of solutions enable job site monitoring, intelligent alerts and analytics, and smart automations.

Payapps secures GBP £10.5 million CIBC IB investment for expansion

Payapps, an Australia-based, cloud-supported construction software firm, has secured a GBP £10.5 million venture growth investment from CIBC Innovation Banking (CIBC IB). The collaborative platform offered by Payapps connects all those involved in the construction supply chain, aiming to manage payment applications. This cloud-based solution enhances the speed and transparency of payments while minimising associated risks.

Innovations and Alliances

Trackunit Rolls Out Emissions Reporting Software

Trackunit has launched its new Emissions Reporting software which will support fleet owners’ ability to meet CO2 targets and acquire contracts with sustainability criteria. Emissions Reporting harnesses synthesized machine metadata and individual equipment profiling to unlock fleet emissions reporting for off-highway machines and equipment.

Kojo Adds Power Design, Inc. As Key New Enterprise Partner

Kojo, the construction industry's leading materials and inventory management platform, today announced that design build multi-trade contractor Power Design, Inc. has selected Kojo as its procure-to-pay platform. Active across 23 states, Power Design is one of the nation's largest design build multi-trade contractors and has completed more than 1,700 projects

Regulatory News

Vice President Harris Announces New U.S. Initiatives to Advance the Safe and Responsible Use of Artificial Intelligence

As part of her visit to the United Kingdom to deliver a major policy speech on Artificial Intelligence (AI) and attend the Global Summit on AI Safety, Vice President Kamala Harris is announcing a series of new U.S. initiatives to advance the safe and responsible use of AI. These bold actions demonstrate U.S. leadership on AI and build upon the historic Executive Order signed by President Biden on October 30.

What We're Reading

• U.S. Cities Investing the Most in Home Improvements

• Meet The Texas Startup Aiming To Solve The US Housing Crisis

• From Vietnam immigrant to Fresno State grad, how construction management inspired me | Opinion

• UK - Private investment in construction is strong, now we need government commitment

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