During the first half of 2018, venture capital firms invested a record $1.05 billion in construction technology startup companies, or nearly 30% more than during the same period in 2017, according to a new report from JLL.
Since 2009, VCs have funded 478 ConTech deals totaling $4.34 billion. “The construction sector is on the verge of major disruption, as tech startups tackle head-on the industry’s biggest pressure points,” says Todd Burns, President of Project and Development Services for JLL.
Indeed, JLL put its money where its mouth is when it brought on two Silicon Valley veterans last year to launch JLL Spark, a business that includes a $100 million global venture fund, and is set up identify and deliver new technology driven real estate service offerings.
Its report calls out three areas where ConTech startups are focusing their efforts:
• Collaborative software, and especially leveraging cloud-based solutions to optimize workflow. Some of the frontrunning startups in this category include Procore Technologies, Flux Factory, PlanGrid, and Clarizen.
• Offsite construction. The building industry can no longer ignore prefabrication and modular solutions at a time when skilled labor is getting harder to hire. Among the new leaders in this category is Katerra—into which Soft Bank has invested $865 million—which is building several new prefab factories, and in recent months has acquired the design firms Michael Green Architecture and Lord Aeck Sargent.
• Big data and artificial intelligence. Predictive data and automation tools are helping construction teams make better-informed decisions to save time and money by extending the work life of equipment, reducing jobsite risk, and automating simple processes. Uptake Technologies is among the startups in this category’s vanguard.
Related Stories
BIM and Information Technology | Feb 8, 2015
BIM for safety: How to use BIM/VDC tools to prevent injuries on the job site
Gilbane, Southland Industries, Tocci, and Turner are among the firms to incorporate advanced 4D BIM safety assessment and planning on projects.
HVAC | Feb 6, 2015
ASHRAE, REHVA publish guide to chilled beam systems
The guide provides tools and advice for designing, commissioning, and operating chilled-beam systems.
BIM and Information Technology | Jan 29, 2015
Lego X by Gravity elevates the toy to a digital modeling kit
With the Lego X system, users can transfer the forms they’ve created with legos into real-time digital files.
| Dec 29, 2014
Hard hat equipped with smartglass technology could enhance job site management [BD+C's 2014 Great Solutions Report]
Smart Helmet is equipped with an array of cameras that provides 360-degree vision through its glass visor, even in low light. It was named a 2014 Great Solution by the editors of Building Design+Construction.
| Dec 29, 2014
Wearable job site management system allows contractors to handle deficiencies with subtle hand and finger gestures [BD+C's 2014 Great Solutions Report]
Technology combines a smartglass visual device with a motion-sensing armband to simplify field management work. The innovation was named a 2014 Great Solution by the editors of Building Design+Construction.
| Dec 29, 2014
HealthSpot station merges personalized healthcare with videoconferencing [BD+C's 2014 Great Solutions Report]
The HealthSpot station is an 8x5-foot, ADA-compliant mobile kiosk that lets patients access a network of board-certified physicians through interactive videoconferencing and medical devices. It was named a 2014 Great Solution by the editors of Building Design+Construction.
| Dec 28, 2014
Robots, drones, and printed buildings: The promise of automated construction
Building Teams across the globe are employing advanced robotics to simplify what is inherently a complex, messy process—construction.
BIM and Information Technology | Dec 28, 2014
The Big Data revolution: How data-driven design is transforming project planning
There are literally hundreds of applications for deep analytics in planning and design projects, not to mention the many benefits for construction teams, building owners, and facility managers. We profile some early successful applications.
| Dec 23, 2014
5 tech trends transforming BIM/VDC
From energy modeling on the fly to prefabrication of building systems, these advancements are potential game changers for AEC firms that are serious about building information modeling.
| Dec 17, 2014
ULI report looks at growing appeal of micro unit apartments
New research from the Urban Land Institute suggests that micro units have staying power as a housing type that appeals to urban dwellers in high-cost markets who are willing to trade space for improved affordability and proximity to downtown neighborhoods.
