Construction industry technology service provider SiteAware has raised $15 million in Series B funding to expand customer adoption of its digital construction verification platform, as part of its goal to make of AI-enhanced assets related to drones the new normal in the construction industry in the United States.
Aware of the siteThe Digital Construction Verification (DCV) system draws on a full range of construction plans and specification data to create a model – something like an anticipatory twin – of what the completed structure is expected to become. It then uses drones, on-site cameras, and people on the ground with sensors to continuously collect information about the structure as it is built, which is compared to the computer clone of the expected end result. In doing so, DCV allows developers, contractors and site managers to gauge both the pace and quality of work as it is completed, alerting them to costly scheduling delays and defects yet. more expensive requiring correction.
Using the initial digitally projected 3D model of the final building as a reference, DCV continuously records data as the site develops, providing real-time feedback on strict adherence to plans. When various AI-assisted applications reveal flaws or errors, the platform sends warnings to those responsible, along with ways to quickly and effectively remedy the flaws.
This way, the turnkey DCV platform alerts planners to problems as they arise and prevents them from being compounded by additional construction. This automated review limits the costs incurred by remedial work to errors detected early versus the effort required when errors are discovered late in the game. This, in turn, minimizes unexpected and unwanted costs associated with late completion, as well as insurance and liability risks related to defects.
DCV’s use of drones and ground cameras to reduce or eliminate these overruns is no small feat for construction projects. According to some estimates, these additional costs can increase the final price paid by a home buyer by 10-30%.
“Given the inherent complexity of today’s construction processes due to the number of people involved, construction errors and the resulting need for rework is an ever-increasing problem,” said Zeev Braude, CEO from SiteAware. “SiteAware’s software gives construction companies access to data they never had before, avoiding these errors and the need to rework upfront instead of managing it after the fact. Companies that have adopted SiteAware’s technology have seen dramatically accelerated schedules and streamlined work processes with all parties involved in a construction project.
Despite the benefits DCV offers to potential users, construction industry players of all sizes have been slow to adopt advanced technological solutions to alleviate the problems they regularly encounter. This hesitation is part of what SiteAware will use its new funding to overcome, with the goal of not only expanding its client list, but also making DCV the industry standard for keeping projects on schedule and as close. as possible of the impeccable.
“SiteAware’s DCV is a game-changer for the construction industry,” said Emanuel Timor, general partner of new investment fund, Vertex. “As a forerunner in this new category, SiteAware is leading the way for the entire construction industry, ultimately enabling the sector to take advantage of technologies that will make it more efficient, transparent and intelligent.”