From drones to heat sensors, the construction industry takes advantage of technological progress and uses it on construction sites. Here are eight startups focused on technology for contractors that have received strong rounds of funding in the past few months.
Payment company Billd, which focuses on developing payment systems for the construction industry, announced in July that it received $ 30 million in funding led by investment firm LL Funds. The payment system is mainly focused on material finance and helps builders solve “poor construction payment cycles”. Billd will invest the money in attracting more employees to accelerate growth and strengthen the company’s infrastructure, as well as partnering with industry leaders in payments and construction.
Butlr Technologies Inc., which describes itself as an “anonymous, real-time wireless acquisition platform”, announced that it has raised $ 7.9 million on recent fundraising efforts with investors such as Union Labs, a technology-driven investment firm. Butlr describes itself as a people-sensing platform that respects privacy by using body heat sensors as an indication of human presence in places where sensors are located, which in turn prevents the collection of identifiable information. This can be used on construction sites, but the program is also used in nursing homes, shops and offices. Butlr plans to use the capital to expand in the market and further develop its technology.
Brokrete, a graduate of the Y Combinator Startup School, which calls itself the Shopify of Construction, has raised $ 3 million in funding. according to TechCrunch. The service includes a marketplace of materials from various suppliers, offering a wide range of offers for contractors. Brokrete also manages payout, logistics, and order management, along with a company that processes orders from companies that use more traditional methods of receiving product orders. Brokrete intends to use the capital to expand its markets in both North America and Europe.
Dusty Robotics, a start-up based in Mountain View, California’s Bay Area, raised an additional $ 16.5 million in June, bringing total funding to $ 23.7 million. according to the press release. The funding round was led by venture capital firm Canaan Partners and included other investors such as Root Ventures and Cantos Ventures. With only 17 employees, the company already has a customer base that uses its autonomous BIM-controlled field printer, which prints out plans for several trades at the same time on construction sites with an accuracy of 1/16 “. according to his website.
Mobile energy storage designer Moxion Power announced that it has raised $ 10 million on funding in May, led by investment firm Energy Impact Partners and supported by Y Combinator Startup Accelerator. Moxion Power focuses on the rental of equipment for temporary electricity, such as generators, with an emphasis on a fully electric fleet. Moxion Power plans to open its first rental location in the San Francisco Bay Area in late 2022 and use the financing to expand its manufacturing operations and reduce its order backlog.
Reconstruct Inc., which focuses on remote construction management software development, announced it had raised $ 17.3 million in July. Part of the financing came from the Nemetschek Group, a software provider that mainly does business with the construction and technology industries. Reconstruct focuses on bringing different aspects of the construction planning process such as scheduling, BIM and augmented reality design together in one place. Reconstruct plans to use the capital to support its integration with software such as Bluebeam and to expand its global expansion.
Stevensville, Montana-based drone maker Skyfish, raised $ 20 million in funding and added a fair amount of the money in June, led by Henry Wolfond, CEO of Bayshore Capital and Steven Bernstein, chairman of SBA Communications to expand its projects and expand its reach. according to the press release. Skyfish’s drone is able to take centimeter-accurate measurements of critical infrastructure points such as cell towers, power lines, dams, bridges and other large structures. According to the announcement, the funds are earmarked for increasing customer sales and expanding the drone fleet.
Toggle, a company that focuses on the construction of rebar and the automated assembly of reinforced concrete, raised $ 8 million in another financing round last June. according to a blog post on his website. Major investors include venture capital firm Tribeca Venture Partners and New York State through the Ventures Direct Fund. TThe company’s 2019 investment round included “Shark Tank” star Mark Cuban. The company said the new funding would be used to expand its manufacturing capacity and hire more employees.