As part of our advisory activities at Mind the Bridge, we are continuously looking for the most innovative startups around the world that fit the verticals we are focusing on.
Being a sector where digital technologies have not yet been fully exploited, with many complex processes still relying on manual paperwork and several different stakeholders involved, it is no news that the Construction sector is particularly prone to disruption. As a matter of fact, according to McKinsey, the sector’s annual productivity growth has only increased by 1% over the past 20 years, with $1.6 trillion of extra value-added to be potentially created through higher productivity.
The stakes to improve efficiencies are therefore extremely high – as potential revenues for innovative winners.
With solutions ranging from digital twins to advanced project management tools, you will find below our short selection of the most interesting European innovators active in the construction sector which we have had the pleasure to meet with during the past year.
Digital representation of physical locations
HQ: United Kingdom
Founded: 2015
Funding: Series A
Sensat created a cloud-based digital twin platform designed to help teams working in physical environments to interact with their workplaces digitally. The company’s platform uses artificial intelligence to generate digital representations of real-world locations, enabling construction companies to analyze their environments and improve the way they make decisions.
What’s the value
Sensat is able to develop accurate digital twins for the infrastructure industry that replicate exactly what is happening in the real world; these digital replicas are then paired with effective visualization tools, making the construction processes much more efficient and easily manageable.
Worth mentioning:
Working with clients such as Morgan Sindall, Heathrow, Mott McDonald
Collaborative project management solution
Founded: 2013
Funding: Series A
Visilean developed a cloud-based construction management solution intended for construction professionals and workers to work more efficiently. The company’s platform allows teams to get access to their work packages and participate in pull sessions by creating weekly plans themselves with the option of importing plans from other solution systems, thereby allowing users to track and visualize progress in real-time. Featuring BIM integration, VisiLean enables real-time tracking of these plans through mobile apps and execution views, where crews can report back on progress and attach photos, and notes.
What’s the value
With a direct integration with BIM and the use of intuitive dashboards, VisiLean’s solution is able to support lean production planning and control workflow – increasing productivity, enhancing savings and reducing wasted efforts during the whole construction process.
Worth mentioning:
2019 Innovation of the Year award for BIM and Project Planning Solutions at the Construction Computing Awards.
Automation of machine controls
Founded: 2012
Funding: Series A
Vemcon designed an automation system that rethinks heavy machinery control. Combining hydraulics, robotics, ergonomics, and artificial intelligence, its manufacturer-independent platform is able to integrate tailor-made controls and driver assistance into an innovative tool management system, enabling users to work with machines more safely and precisely.
What’s the value
Through the elimination of isolated solutions on construction sites and the reduction of the overall complexity of heavy-duty processes, Vemcon’s solution increases the productivity of mobile work machines in operation, also helping to combat the shortage of skilled workers.
Worth mentioning:
Working with Strabag, European Space Agency business incubation centre.
High-quality ground deformation maps
Founded: 2015
Funding: Pre-Series A
Dares Technology is an aviation and aerospace company that offers ground motion measurements, ground deformation and mapping products using radar satellite images. Applications range from mining to oil & gas and infrastructure industry, such as stability of key infrastructure projects before, during, and after construction as well as during maintenance, ground motion of oil and gas reservoirs and infrastructures for conventional as well as unconventional oil, gas, and gas storage areas.
What’s the value
With its different ranges of application, Dares Technology’s radar imagery processing is an incredibly valuable asset for any infrastructure project.
Worth mentioning:
Working with companies such as the European Space Agency, Airbus, Total.
Cutting-edge analysis of construction processes
HQ: United Kingdom
Founded: 2018
Funding: Seed
Contilio is an analytics startup at the intersection of construction, Deeptech, and B2B SaaS, which makes use of 3D computer vision and an AI data analytics platform to turn site data into real-time insights on construction progress. After having captured data onsite, Contilio’s 3D machine learning engine automatically analyses advancements, performance KPIs and risks, subsequently visualizing insights that integrate with the construction schedule and BIM.
What’s the value
With its integration of AI and computer vision, Contilio’s solution has the potential to significantly improve productivity, cash flow and delivery speed of any construction project.
Worth mentioning:
Winner of Smart Construction Challenge at Bosch Connected World.
Final Conclusions
The construction sector is a thriving and dynamic field for innovation. Multiple technologies and startups are emerging worldwide to help businesses tackle the inefficiencies that today characterize the whole construction cycle – from design to planning, execution, and monitoring. As a side note, it is also worth noting how the selection features several companies from the UK, a construction and innovation heavy-weight country. In fact, when considering the state of the European scaleup ecosystem in the past year, the UK leads the pack both in terms of the number of scaleups (2217) and capital raised ($39.5 Bn), as found in our Tech Scaleup 2019 report.
From our side, we will keep looking for the most interesting innovators around the globe that could support the transition to a more efficient – and sustainable – way of constructing.
*sources: Crunchbase, Pitchbook, Mind the Bridge