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

ProjectMark Secures $3 Million in Funding to Revolutionise Commercial Construction CRM

ProjectMark, a SaaS platform focused on the commercial construction industry, has successfully raised $3 million in a recent funding round from TenOneTen Ventures, Far Out Ventures, Trimble Ventures, and Agya Ventures alongside current investment partners, Heartland Ventures

OnsiteIQ Raises $14 Million in Series B Funding To Provide Construction Intelligence For Real Estate Investors

OnsiteIQ, a leading construction intelligence platform for commercial real estate investors, developers, and owners, announced the completion of a $14-million Series B financing round. The company has seen significant traction since its founding and is currently monitoring construction projects across a wide variety of property types in more than 65 markets throughout the United States and Canada. To date, the company has captured over three billion square feet of 360-degree project footage, monitoring over 1,600 projects valued at a cumulative $17 billion. 

Innovations and Alliances

ProjectReady Now Automates Procore Site Creation

ProjectReady, a leading provider of collaborative project information management software for Architecture, Engineering, and Construction (AEC) projects yesterday announced a new automated site setup feature marking a significant milestone within its involvement on the Procore App Marketplace.

Mobile Devices and Interfaces Continue to Revolutionize Construction

Construction takes place in the field, and construction software continues its evolution to harness the power of mobile applications to increase productivity and safety. Even if the interface makes good enough use of space on a small device screen to be used on a mobile handset instead of a laptop, these native applications make better use of the underlying handset’s features.

Construction’s Biggest Startup Competition Names Its 2023 Winners

Eight startups were announced as this year’s winners, each corresponding to one of the competition’s four market-driven verticals. In the “Green Construction” vertical, the winners were Firstplanit [United Kingdom] and Vizcab [France]. Frontline [Singapore], FYLD [United Kingdom], and RodRadar [Israel] were the winners of the “Enhanced Productivity” vertical, while Construex[Ecuador] won under the “Construction Supply Chain” vertical. In the “Future of Construction'' vertical, the winners were Civ Robotics [United States] and sensmore [Germany].

Regulatory News

Regulation for construction workers’ wage update system takes effect

After decades of sticking to the same system, construction workers will have a new system in place for determining their wages. The Updating the Davis-Bacon and Related Acts Regulation has officially taken effect earlier this week follows the August 2023 publication of the final rule in the Federal Register.

What We're Reading

• White House advances office-to-residential conversions with new resources

• 5 of the biggest OSHA fines of Q3 2023

• The boom in built-to-rent single-family housing: What’s behind the growth in this housing type?

• Student Housing Rents Approach Record Highs: Report

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