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

Contech startups swim in cash as established firms face pressure

While startups are enjoying an influx of cash, larger firms are struggling to break new ground with customers. A wave of excitement around artificial intelligence is fueling new possibilities in the space, and fresh-faced construction technology upstarts are reaping the rewards.

Gravel gets funding from NEA to support Indonesia’s booming construction industry

The Jakarta-based startup announced this week that it has raised $14 million. Gravel says it saw 45x revenue growth between 2020 and 2022, and now has 1.7 million workers on the platform. It has been used for 6,000 projects in 20 Indonesian provinces, ranging from residential construction to larger ones like LRT Jabadebek.

Innovations & Alliances

Building On Safety: Innovation To Safeguard Construction Workers

Whilst it’s important to note that the construction industry does not have the highest rate of fatal injury, its fatality rate remains approximately four times higher than the average rate across all industries. These alarming statistics echo the sentiments expressed by construction workers, underscoring the urgent need for comprehensive safety measures.

Regulatory News

FHWA sends $34M to state DOTs for construction tech programs

The United States Department of Transportation's (USDOT) Federal Highway Administration (FHWA) said it has awarded $34 million in grants to 10 projects that will advance digital construction technology throughout the U.S.

What We're Reading

• 2024’s top construction events

• AI-driven approaches can expedite building decarbonization: McKinsey

• Construction spending inches higher

• Construction 5.0 the need of the hour, say Big 5 experts

• New housing slows regional rent growth: NYU researchers

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