Montreal, Jan. 23, 2024 - Mechasys, a Montreal-based tech firm specializing in millimetric projected reality for construction, is pleased to announce the successful funding led by Great Wave Ventures (formerly known as Agya Ventures) and notable corporations, including Tokyu Construction Innovation Fund managed by Global Brain, Toda Corporation, Ogawa Denki, and existing investors.
As of today, Mechasys has successfully deployed its laser layout solution on more than 50 projects spanning North America, Europe, and Asia. The company has garnered recognition for its consistent precision on job sites and the user-friendliness of its technology, establishing a reputation for excellence across its portfolio of projects.
The establishment of this syndicate of investors signifies a historic milestone as General Contractors in Japan come together in a consortium to invest in a North American company. The labor shortage in Japan poses significant threats to ongoing construction operations, particularly as layout tasks require highly skilled labor that is challenging to find. Consequently, the consortium aims to drive the national adoption of Mechasys’ solution, resolving labor-related challenges in layout operations while bolstering construction speed.
“Mechasys' advanced layout solutions will play a pivotal role in driving efficiency and communication on construction sites,” said Koichi Fujita, General Manager, Innovation Division, Value Creation Office of Tokyu Construction.
Masaoki Haneda, General Manager of the Innovation Strategy Division at Toda Corporation adds, “The Japanese construction industry has a severe labor shortage, and this problem is affecting a deterioration in quality, safety, and productivity at job sites. The syndicate investment not only reflects our confidence in Mechasys but also signifies a collaborative effort by Japanese General Contractors to address the pressing challenges posed by labor shortage. This strategic investment is a testament to our commitment to fostering innovation in construction, and we look forward to assisting Mechasys in its continued growth.”
In reference to the recent collaboration, Nobu Iguchi, Managing Partner of Great Wave Ventures said: “We are thrilled to lead the latest funding round for Mechasys. We recognize the transformative potential of Mechasys' solutions, and we are proud to combine efforts with an exceptional group of strategic partners from Japan.”
Mechasys is gearing up for the imminent launch of its third-generation product in 2024. This upcoming generation marks a significant improvement in robustness for challenging environments, thereby expanding market reach. Mechasys' official launch promises to unveil a host of exciting additional features.
Mechasys has pioneered a unique projected reality technology capable of displaying blueprints at full scale with millimetric precision. Paired with its software ecosystem, the field projector significantly accelerates project deliveries, elevates work quality, and enhances field documentation, aiming to bridge the gap from the building design to delivery.
About Great Wave Ventures
Great Wave Ventures (formerly known as Agya Ventures) is an early-stage venture capital firm based in New York. They invest in technology companies in real estate, construction, climate, and related industries.