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

Construex Raises $4.6 Million to Digitize Latin American Construction Industry

Construex, an Ecuador-based software-as-a-service marketplace, has raised $4.6 million in seed funding to accelerate its mission of digitizing the construction industry in Latin America. Founded in 2019 by Roberto Arroyo and his brother Nicolás Arroyo, Construex aims to address the challenges faced by developers in the construction and design sectors, TechCrunch reported Monday.

Feds award $34M for digital construction tech

The Federal Highway Administration has awarded 10 states the first grants from the federal government’s Advanced Digital Construction Management Systems program, worth a combined $34 million, the agency announced on Nov. 16. 

Innovations & Alliances

Buildots Named Next Big Thing in Tech by Fast Company

Buildots, the pioneers of Performance-Driven Construction Management powered by AI, today announced that it has been named to Fast Company's third annual Next Big Things in Tech list, honoring technology breakthroughs that promise to shape the future of industries—from healthcare and security to artificial intelligence and data.

Robots share data, work together on experimental jobsite

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

2 years in, infrastructure law has funded 40,000 projects

Two years after President Joe Biden signed it into law, the Infrastructure Investment and Jobs Act is fueling thousands of projects around the country and has helped boost construction employment, according to a White House progress update. The five-year, $1.2 trillion federal IIJA includes $550 billion in new funding. 

What We're Reading

• After raising $600 million, proptech startup Veev is on the verge of closure

• Most businesses buy the wrong software, report finds

• The Dotted Line: Change orders often spark conflict, but they don’t have to

• Profits fall for many public firms, partly due to inflation

• How can construction firms bring order to complex supply chains using technology?

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