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

SALUS Technologies Secures $8 Million in Series A Funding to Revolutionize Construction Safety Software

SALUS’s innovative safety management software empowers field workers and safety professionals to address inefficiencies in their compliance and mitigate risk in their daily operations. The new funding will help them advance their software functionality to better serve their customers’ needs and enable organizations to increase worksite safety. It will also allow SALUS to elevate customer support, launch marketing efforts, and boost safety management in more markets.

Ecoworks raises €40M for net zero standard climate-netural building renovations.

Yesterday, climate-neutral building renovation company ecoworks announced one of the largest Series A rounds to date in the global construction technology sector with €40 million. This brings the company's funding to over €82 million.

4 contech firms, $60M in funding

Even as the general venture capital market wanes and larger contech firms run into struggles, these four startups focused on serving AEC firms have recently secured millions in fresh funding. Offerings range from a collaborative project management platform to an online marketplace for heavy equipment and an estimating solution that claims to have procurement baked in.

Komatsu acquires fleet management systems provider

Komatsu Ltd. has acquired iVolve Holdings Pty Ltd, a provider of fleet management systems (FMS) for construction and mining equipment, through its wholly-owned subsidiary in Australia. 

iVolve is a technology company that provides FMS for small to mid-tier miners, contractors, and quarries

Innovations & Alliances

Inno Holdings Commences Trading on Nasdaq Capital Market

Inno Holdings Inc. (Nasdaq:INHD) ("Inno" or the "Company"), an innovative construction technology company, commenced trading on the Nasdaq Capital Market yesterday. Inno's listing on Nasdaq comes at a time of strong growth in the construction technology sector. The addressable market for innovative technology solutions in the construction industry in the US is estimated at $40 billion.

Case Study: Namibia Construction Leverages OpenSpace to Manage Construction Projects Remotely

Namibia Construction utilised OpenSpace technology to cut site travel in half, improve documentation speed, and resolve and avoid capture disputes. The case study details how the team managed to

• Cut site travel in half.

• Documented faster, including getting images they might not know they needed.

• Resolved and avoided disputes with their captures.

What We're Reading

• Leading AI construction company announces rebrand

• Is connectivity the future of construction?

• Companies sign strategic partnership to integrate visual construction data into project management. 

• California Engineering Contractors (CEC) Adopts Industry-First Schedule Risk Analysis Tool from Planera to Manage Complex Projects

• Robot to allow contractors to stripe roads from distance

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