Construction Dive: A new round of contech startups receive funding
The past few months have seen a new flurry of funding for construction technology startups, with several making announcements earlier this summer, including San Francisco-based Join and Canadian construction management software firm Bridgit.
As summer comes to an end, several other companies have also announced support from investors. Here are a few of the most notable ones:
Two weeks ago, construction site data and analysis firm OpenSpace announced a $14 million funding round led by Lux Capital with other investors including construction and development firms Suffolk Construction and Tishman Speyer.
The platform uses artificial intelligence to create navigable, 360-degree photo representations of jobsites during regular walkthroughs. Workers attach a small camera to their hardhats and walk the site as normal, with OpenSpace passively capturing imagery in the background. Imagery data is then uploaded to the cloud, where algorithms map the photos to project plans and stitch them together, creating a visual representation of the site similar in style to Google Street View.