Atlanta-based AI firm wins global construction technology competition


Diving letter:

  • The 2021 Construction Start Competition, sponsored by Cemex Ventures, crowned a gold medalist and honored nine other top companies during the competition’s pitch day earlier this month. according to a press release.
  • The gold medalist of the sixth annual competition was Atlanta-based Document Crunch, which developed an AI-powered software platform of the same name that identifies and explains critical problems in construction contracts. The commercially available Document Crunch also works with construction plans, insurance policies, and more.
  • The 10 winners were judged on their ability to offer the most promising solutions in five categories: carbon footprint reduction, supply chain optimization, site efficiency, advanced building materials and new construction methods.

Dive Insight:

The selected startups gained resources and opportunities to advance their products and ideas through investments and pilot projects, according to the announcement. The event was also funded by:

  • Investment company Dysruptek, the venture arm of general contractor Haskell
  • Spanish transport company Ferrovial
  • Venture Capital Company GS Futures
  • Hilti production company
  • Leonard., The investment arm of the Vinci Group
  • Nova from the Saint-Gobain production company

During the competition, the startups had the opportunity to present their projects to a jury consisting of the top representatives of the individual organizing companies and a specialist audience from the fields of construction, investment and innovation. The other nine winning companies are:

  • AI clearing (USA) – SaaS platform that seamlessly integrates multiple data sources into BI systems to deliver digital insights.
  • HyperTunnel (UK) – Patented a new method of building and renovating tunnels and underground infrastructures.
  • Knots & Links (UK) – AI-based platform for creating intelligent machines Automate project management.
  • ObraLink (Chile) – Data acquisition system to automate critical construction site activities like poured concrete and formwork.
  • Presien (Australia) – AI vision systems to rid heavy industry of the looming risks the safety of your employees and your company.
  • ProcurePro (Australia) – Digital subcontracting procurement platform to complete the digital Gap between offers and commitments.
  • Nominal power (Spain) – Cloud-based software to carry out the design and engineering of Photovoltaic systems on a supply scale.
  • Schüttflix (Germany) – Platform for ordering, transporting, delivering and disposing of bulk goods 100% digital.
  • WasteBox (Austria) – Digital waste management platform for automatic connection Customers with the right disposal partner for their project.

Investment in construction technology is now well under way and is unlikely to improve until the United States’ bipartisan infrastructure bill is passed and signed. The law provides $ 100 million for Investments in construction technology, and Contech members praised the move. Construction technology firms have had strong rounds of fundraising this year and are even Break investment records.

Cemex Ventures describes this year’s show as a success and is already preparing for the edition of the award in 2022 and “an even more promising scenario for the Contech ecosystem”, according to the press release.

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