Construction tech solutions that allow builders to either compile data into a singular platform or project it onto a jobsite to ease layout were winners in the latest, $110 million round of venture capital funding.
That number doesn’t include the whopping $405 million pulled in by FieldAI in August, a sum that puts the Bill Gates- and Nvidia-backed “robot brain” software maker in a league of its own.
Here’s a rundown of six firms that grabbed investor cash in recent months.
GreenLite
$49.5 million
New York City-based GreenLite, which provides artificial intelligence-powered permitting review software, raised $49.5 million in a Series B funding round, according to a Sept. 15 news release. The round was led by global software investor Insight Partners. Energize Capital also participated, alongside existing investors Craft Ventures, LiveOak Ventures and Chicago Ventures.
GreenLite uses its AI-powered digital plan review tool, LiteTable, to help customers with permitting compliance, according to the release. The software can ingest plan sets, identify compliance flags and code requirements and find relevant guidance from GreenLite's comment library based on compliance patterns within the specific jurisdictions.
With the capital, GreenLite will expand its go-to-market efforts and enter new verticals, including lodging, industrial and logistics, clean energy infrastructure and residential development while advancing its technology platform.
Mechasys
$23 million
Mechasys, a firm that specializes in projected reality technology, raised $23 million in a Series A funding round, the startup announced on Aug. 26. Canadian growth equity fund Idealist Capital led the round, with follow-on participation from existing investor Fondaction, a Quebec-based pension fund.
The Montreal-based startup uses its tech, known as the XR projector, to create true 1:1 scale layouts with millimetric accuracy, eliminating guesswork and significantly reducing rework, according to the news release. The tech is used on more than 200 construction projects across over a dozen countries, according to the firm.
With the cash, Mechasys will accelerate the deployment of its third-generation XR Projector, per the release.
DroneDeploy
$15 million
San Francisco-based reality capture platform DroneDeploy has raised $15 million in strategic funding and reached break-even, according to a Sept. 9 news release from the company. Existing investors in the firm include co-lead investors Emergence Capital and Scale Venture Partners, as well as Airtree Ventures, Bessemer Venture Partners and Uncork Capital.
The fundraise was targeted behind two new AI products, Progress AI and Safety AI, according to the news release. Builders can use Progress AI’s vision-language solution to deliver automated progress tracking from drone and 360 walkthrough data, while Safety AI tracks jobsites to ensure OSHA and safety compliance, according to the company’s website.
The capital will go toward DroneDeploy’s robotics capabilities and help advance autonomous capture for quadruped, aerial and future humanoid systems, per the release.
LightYX
$11 million
Construction tech startup LightYX, which specializes in precise, on-site laser projection of building plans, raised $11 million in Series A funding, according to a Sept. 2 news release. The round was led by Nova by Saint-Gobain, the venture arm of construction materials giant Saint-Gobain. Yachad Capital Partners, Shibumi International, Somersault Ventures and private investors in real estate and construction from Israel also participated.
LightYX, headquartered in Tel Aviv with operations in New York City, has developed an electro-optical system that uses laser projection to display construction plans directly onto floors, ceilings, and walls with 1/16-inch accuracy, or under 2 millimeters, per the company. The system also scans and adapts plans in real time to reflect field conditions.
In addition to private investments, LightYX has received six grants from the Israel Innovation Authority since its inception, totaling $3.3 million. With the cash, LightYX will target U.S. expansion, accelerate product development, build new partnerships in the U.S. and Europe and deepen customer relationships, per the release.
Heave
$7 million
Heave, a platform that puts builders in touch with on-demand heavy equipment mechanics, raised $7 million in a Series A funding round, according to an Aug. 27 news release. Outsiders Fund led the round, with continued support from FJ Labs, Long Journey Ventures and Slow Ventures, and brings the St. Petersburg, Florida-based startup’s total funding to $13 million.
Calling itself "Uber for heavy equipment repair," Heave’s platform works to connect mobile mechanics with professionals whose machines need a fix. The company currently services more than 600 machines per month and has over 300 active mechanics in its network out of a total pool of 850 nationwide, according to the company. Regionally, Heave has a presence in Florida and Texas, and is expanding across the Charlotte, North Carolina, Nashville, Tennessee, and Atlanta regions.
With the cash, Heave plans to fuel market expansion, customer acquisition and team growth.
Track3D
$4.3 million
Track3D, a Milpitas, California-based startup working on a reality intelligence platform for the construction industry, raised $4.3 million in a Seed funding round, according to a Sept. 10 news release from the company. The round was led by Endiya Partners, with participation from Shadow Ventures, Monta Vista Capital and others.
The company’s platform acts as a central hub for all visual data, such as from drones, 360 cameras, laser scanners, and mobile devices, according to the release. With that data, contractors can automatically track documentation and progress on the jobsite, and streamline communication with project stakeholders, according to the firm’s website.
With the funding, Track3D will expand its product offerings and bolster its go-to-market efforts, according to the release.
