From drones to heat-sensing technology, the construction industry is making use of technological advancements and putting them to work on sites. Here are eight startups focused on technology for contractors that have secured strong rounds of funding over the past few months.
Payments company Billd, which focuses on creating payments systems for the construction industry, announced in July that it received $30 million in funding, led by investment firm LL Funds. The payments system focuses primarily on material financing and helping contractors solve what it calls "insufficient construction payment cycles." Billd will put the money toward securing more employees to accelerate growth and fortify company infrastructure, along with looking to partner with industry leaders in the payments and construction space.
Butlr Technologies Inc., which calls itself an "anonymous, wireless real-time sensing platform," announced that it had raised $7.9 million in recent fundraising efforts with investors such as Union Labs, a tech-focused investment firm. Butlr bills itself as a people-sensing platform that takes privacy into account by using body-heat sensors as an indication of human presence in locations where sensors are located, which in turn prevents any identifiable information from being captured. While this can be used on construction sites, the program is also seeing use in nursing homes, stores and offices. Butlr plans to use the capital to expand in market and further develop its technology.
Brokrete, a graduate of the Y Combinator startup school that bills itself as the "Shopify of construction," has raised $3 million in financing, according to TechCrunch. The service includes a marketplace of materials from a variety of different vendors, offering a wide range of offers for contractors. Brokrete also manages payout, logistics and order management, along with a firm to process orders from companies that use more traditional means of receiving product orders. With the capital, Brokrete is looking to expand its markets in both North America and Europe.
Dusty Robotics, a startup based in Mountain View in California’s Bay Area, raised an additional $16.5 million in June, bringing its full funding to $23.7 million, according to a press release. The funding round was led by venture capital firm Canaan Partners and included other investors such as Root Ventures and Cantos Ventures. At only 17 employees, the company already has a stable of clients that take advantage of its autonomous BIM-driven Field Printer, which prints out plans for multiple trades at once on the grounds of construction sites to 1/16" accuracy, according to its website.
Mobile energy storage designer Moxion Power announced it had raised $10 million in funding in May, led by investment firm Energy Impact Partners and backed by the Y Combinator startup accelerator. Moxion Power focuses on renting equipment for temporary electricity, such as generators, with a focus on an all-electric fleet. Moxion Power plans to open its first rental location in the San Francisco Bay Area in late 2022, and using the funding, scale up its manufacturing operations and cut back on its backlog.
Reconstruct Inc., which focuses on creating remote construction management software, announced it had raised $17.3 million in July. A chunk of the funding came from Nemetschek Group, a software vendor that primarily 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 drafting, all into one place. With the capital, Reconstruct plans to aid its integration into software such as Bluebeam and grow its global expansion.
Stevensville, Montana-based drone maker Skyfish raised $20 million in funding in June led by Bayshore Capital CEO Henry Wolfond and SBA Communications Chairman Steven Bernstein, adding a good chunk of cash to grow its projects and reach, according to a press release. Skyfish's drone is capable of providing centimeter-grade measurements of critical infrastructure points such as cell towers, power lines, dams, bridges and other large constructs. The funds, according to the release, are earmarked for growing customer revenue and expanding its fleet of drones.
Toggle, a company that focuses on rebar-reinforced concrete construction and automated assembly of reinforced concrete, raised $8 million in another round of funding last June, according to a blog post on its website. Chief among its investors include venture capital firm Tribeca Venture Partners and New York State through the Ventures Direct Fund. The company's 2019 investment round included "Shark Tank" star Mark Cuban. The company said that the new funding would go to expanding its production capacity and hiring more workers.