Weekly Technology Wrap - 11/19

Last week in Construction Technology

Author

KYRO Technologies
November 18, 2023

Welcome to Kyro’s weekly technology roundup, your go-to source for all the latest updates in the world of construction management.

In this edition, we bring you a curated collection of articles and insights that will keep you well-informed and ahead of the curve.

Funding and M&A

The construction technology sector has surpassed $30 billion in cumulative venture funding since 2014, continuing its streak of major growth, according to one investment firm. Foundamental, a Berlin-based investor focused on the AEC industry that invests in companies around the world, published its analysis of data from Tracxn, a platform that tracks startup statistics.

INGENIOUS.BUILD, a leading technology company specializing in project management software for Real Estate Development and Construction, has successfully closed its Series A funding round, securing a total of $37 million.

Co-led by Morpheus Ventures and Navitas Capital alongside Koch Real Estate Investments, this round includes esteemed investors such as American Family Ventures and industry leaders JLL Spark Global Ventures and Crow Holdings, who contribute not only as investors but also as valued clients.Innovations and Alliances

Innovations & Alliances

Unanticipated onboarding costs and the shift from on-prem licensing to usage-based fee structures can exacerbate buyer’s remorse, a Capterra survey found. Nearly 3 in 5 companies regret at least one of their software purchases from the last 12 to 18 months, according to a survey of 3,400 businesses by software marketplace Capterra. Nearly one-quarter were unhappy with multiple purchases.

The collaboration, currently in the developmental stage, aims to offer users centimeter-level accuracy in surveying and mapping projects by integrating Skydio autonomous UAVs with Trimble GNSS receivers and software. The technology can be used by construction and utility companies, as well as state transportation agencies, to streamline workflows for greater precision and project efficiency.

Regulatory News

The U.S. Department of Transportation’s Federal Highway Administration (FHWA) today announced the award of $34 million in grants to 10 projects in 10 states under the Advanced Digital Construction Management Systems (ADCMS) grant program.

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