Atlanta-based AI firm wins global construction tech contest

Dive Quick:

  • The 2021 Construction Startup Competitiveness, sponsored by Cemex Ventures, topped a gold medal prize winner and awarded nine other top corporations in the course of the competition’s Pitchday before this month, according to a push launch.
  • The gold medal prize winner of the sixth yearly opposition was Atlanta-primarily based company Document Crunch, which designed an AI-powered application platform of the same title that identifies and clarifies crucial challenges in design contracts. Document Crunch, which is commercially readily available, also operates with construction programs, insurance coverage procedures and much more.
  • The 10 winners ended up judged on their capacity to supply the most promising options in 5 categories: carbon footprint mitigation, supply chain optimization, efficiency in the jobsite, sophisticated constructing elements and new construction procedures.

Dive Perception:

The decided on startups won assets and alternatives to progress their products and solutions and thoughts by way of investments and pilot initiatives, according to the launch. The occasion was also funded by:

  • Investment decision agency Dysruptek, the enterprise arm of normal contractor Haskell
  • Spanish transportation contractor Ferrovial
  • Undertaking cash business GS Futures
  • Production company Hilti
  • Vinci Group’s expenditure arm Leonard
  • Nova by production corporation Saint-Gobain

During the opposition, the startups experienced the opportunity to present their jobs to a jury composed of the best reps of every single arranging enterprise, as properly as an viewers of industry experts in development, investment and innovation. The other nine profitable businesses are:

  • AI Clearing (United States) – SaaS platform that seamlessly integrates numerous facts resources into BI techniques to offer digital insights. 
  • HyperTunnel (United Kingdom) – Patented a new strategy to build and renew tunnels and underground infrastructures.
  • Nodes & Inbound links (United Kingdom) – AI-based mostly system to build sensible equipment to automate undertaking administration.
  • ObraLink (Chile) – Details selection procedure to automate critical design site actions this sort of as concrete poured and formwork.
  • Presien (Australia) – AI vision units to totally free major industries from the hazards that threaten the basic safety of their persons and business.
  • ProcurePro (Australia) – Digital subcontractor procurement system to close the electronic gap among bids and commitments.
  • RatedPower (Spain) – Cloud-primarily based computer software to carry out the style and engineering of utility-scale solar photovoltaic vegetation.
  • Schüttflix (Germany) – Platform to buy, transport, provide and dispose of bulk product 100% digitally.
  • WasteBox (Austria) – Electronic waste management platform to instantly link prospects with the proper disposal husband or wife for their project.

Development engineering financial investment is looking at a very good yr, and will probable only boost with the passage and signing of the bipartisan infrastructure invoice in the United States. The act allocates $100 million pounds to investment decision in construction technological know-how, and users in the contech area have lauded the shift. Development know-how firms have had potent fundraising rounds this yr, and are even breaking expense data.

Contacting this year’s displaying a good results, Cemex Ventures is presently gearing up for the 2022 version of the award and “an even much more promising state of affairs for the Contech ecosystem,” according to the release.