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As summer temperatures remain high, building tech companies are feeling the heat in a different way, thanks to their investors pouring more money into contech. following 20% year-on-year growth In contech investment during the first quarter of the year, companies offering innovations such as security platforms and exchange order management have been important targets for venture capital dollars.
Read below to learn more about these companies that have won funding in recent weeks.
HammerTech
70 million dollars
Melbourne, Australia-based construction safety software company HammerTech has raised a $70 million growth investment from US technology investment firm Riverwood Capital, the company announced on Monday.
HammerTech says its platform is a unique solution for workplace safety. It allows builders to check permits, manage jobsite orientations and connect everyone on the project, from general contractors to subcontractors and tradespeople, according to its website.
The new capital will help HammerTech spur growth and accelerate research and development, the statement said.
adaptive
19 million dollars
New York City-based construction finance software company Adaptive secured a $19 million Series A funding roundthe company announced on Monday.
According to the release, Adaptive offers automated financial management software designed specifically for small to medium-sized construction companies. The platform offers end-to-end financial management, including budgeting, cash flow analysis, expense tracking, accounts payable, accounts receivable, supplier management and electronic payments.
The funding will fuel Adaptive’s growth and support the expansion of its engineering and product teams, while bolstering its efforts to reach more construction companies in the US, according to the firm.
Clearstory
16 million dollars
Walnut Creek, Calif.-based Clearstory, which makes software that manages and streamlines the change order process, revealed its $16 million Series B funding round led by Prudence, the firm announced on June 27.
With Clearstory’s network, contractors can eliminate handwritten change order records, according to the company’s website. The company’s software includes a collaborative change order log, change notifications, change request templates, and digital time and material tags.
Each month, contractors share more than 19,000 change orders worth more than $850 million across its network, the release said, and the company counts Suffolk, Clayco, Barton Malow and Swinerton among its construction clients.
Buildots
15 million dollars
Tel Aviv-based construction management software company Buildots, which helps owners and managers manage progress and data on construction jobs, announced a $15 million investment led by Intel Capitaltechnology venture capital firm Intel, announced on July 11.
Buildots’ product is a comprehensive software platform that allows builders to track and manage different facets of construction while adhering to a set schedule. Managers can set tasks and track them as project teams work toward them, according to the website.
Using artificial intelligence, the technology also provides objective progress reports and performance metrics, and its predictive analytics tools help construction project teams anticipate and mitigate delay risks before they escalate, by data collected by workers walking around the workplace with 360-degree cameras attached to their workplace. helmets The company claims its performance-based approach increases overall construction efficiency and reduces delays by up to 50%
This funding brings the company’s total funding to $121 million as it continues to develop technology enhancements for its core construction management platform and drive growth, according to July 11. news release.
KC8 capture technologies
6.7 million dollars
Melbourne, Australia-based carbon capture startup KC8 Capture Technologies has secured a seed round of funding 10 million Australian dollars ($6.7 million) led by Perth-based Woodside Energy and Cemex Ventures, the tech-focused venture capital arm of Madrid-based Cemex.
KC8 helps the construction industry reduce greenhouse gas emissions from fossil fuel use, according to a July 8 report. Cemex Ventures press release.
KC8 says its value proposition is its proprietary, non-toxic, non-volatile solvent designed to have no impact on the environment, unlike traditional solvents. It is also designed to enable the capture of up to 95% of carbon dioxide, optimize energy efficiency by 15% and reduce overall operating costs by 50% for partners in heavy industries compared to traditional solvents , according to Cemex.
In the United States, KC8 is developing a commercial pilot demonstration plant at the US Department of Energy’s National Carbon Capture Center in Wilsonville, Alabama, the company said in its funding announcement.
Cambridge Electric Cement
2.9 million dollars
A branch of the British University of Cambridge, the sustainable cement firm Cambridge Electric Cement has raised a £2.25m ($2.9m) seed round.the startup revealed on July 3.
The company’s process for making low-carbon recycled cement includes passing it through the same electric arc furnaces used in steel recycling, according to the release. The key innovation, he said, is the replacement of reclaimed cement paste with lime used in the steel recycling process.
This co-production process avoids both the kiln-related energy and emissions of the calcination process of conventional cement production, and leverages existing steelmaking infrastructure.
The company is working with its network of established industry partners, including Balfour Beatty, on an industrial demonstration project to initially certify and commercialize the product in non-structural and low-risk construction applications, according to the statement.
