AI-powered Swapp expands in USA
Swapp, an AI-powered construction planning company, is making its move on the US market after opening an office in Florida, its third international outlet after the UK and Israel. The new US site will house the company's national sales and marketing team.
"Our office in the USA will allow us to further expand our presence in the US market, particularly in the state of Florida," said Eitan Tsarfati, Co-founder and CEO of Swapp. "With Miami and Orlando featuring among the 10 cities with the most construction work in the US, Florida is a huge market that we are eager to get involved in and partner with real estate companies in the state."
Swapp, which has already partnered with some of the largest real estate developers and construction companies in the US, will use its AI powered planning capabilities to maximize property investments and realise full site potential.
Swapp helps to accelerate and improve the construction planning process from start to finish through automation and data driven algorithms which do the "heavy lifting" of the planning process and offering partners shorter planning cycles, site utilisation which increases usable square feet, and reduced costs.
"Opening an office in the USA in addition to our presence in Europe and Israel will enable us to further expand our service capabilities in this fast-growing market," added Tsarfati.
In the immediate future, McKinsey expects AI’s proliferation in the E&C sector to be "modest" as few leaders have the processes, resources, and existing data strategies in place to power the necessary algorithms and meaningfully implement this technology.
"However, the potential impact is so large that the industry can no longer afford to ignore it," it adds. "AI methods are increasingly able to work across industries, elevating the threat of competition from nontraditional market entrants. And a narrow set of start-ups are already gaining market traction using AI-focused approaches."
Swapp announced in January that it had raised $7 million in seed funding, led by Point72 Ventures and Entrée Capital with the participation of existing investors. The investment will support Swapp's continued market expansion for its construction-planning platform and expand its AI capabilities.
SafeAI attracts $21m funding as SmartMix AI tool launches
SafeAI is driving the transformation of the mining and construction industries through connected, autonomous sites. With chronic labour shortages, unsafe working conditions and frequent project delays, these industries are in a unique position to benefit from autonomy.
Unlike on-road applications of the technology, autonomous heavy equipment operates in controlled environments, which means companies can create smarter, safer, more productive project sites today that create meaningful, near-term impact.
“We are at a tipping point for autonomous heavy equipment,” said Bibhrajit Halder, founder and CEO at SafeAI. “We’ve proven that autonomy makes work sites significantly safer and more productive; now, we are on the cusp of mass adoption. Together with our valued partners, customers and investors, we’re poised to deploy autonomy in off-road industries like construction and mining, at scale, to rethink the way heavy industry operates.”
Heavy industry is a large, growing global market, ripe for disruption. The construction equipment market alone is valued at $140 billion, and expected to increase to $175 billion by 2025; construction-related spending accounts for a staggering 13% of global GDP, or $11.5 trillion.
But there remains significant room for growth; in construction alone, higher productivity could create an estimated $1.6 trillion in additional value. With just 25% of the infrastructure needed by 2050 in existence today, autonomy can bridge this productivity gap with greater efficiency and 24/7 operations. SafeAI is at the forefront of this transformation.
“There’s a tremendous amount of excitement in the autonomy space today; but it’s clear the biggest opportunity for this technology is off-road,” said Mark Blackwell, General Partner at Builders VC. “With its industry-leading autonomous software, scalable retrofit approach and partner ecosystem, SafeAI is uniquely poised to capitalize on this opportunity. We’re proud to support the company in its next chapter of growth as demand for autonomous heavy equipment continues to skyrocket.”
New investors LTC, DG Ventures, MACA and Vimson Group, and existing investors Autotech Ventures, Brick and Mortar Ventures, Embark Ventures, Monta Vista Capital and Obayashi Corporation, also participated in the round. The funding comes on the heels of a year of rapid growth for SafeAI, including new partnerships with Obayashi, Goodyear and Macnica, and expansion into Australia’s booming mining market.
A pilot program with Obayashi Corporation last November saw a Caterpillar 725 articulated dump truck autonomously complete a vital on-site function and carry out load-haul-dump cycles.
Giatec debuts SmartMix AI tool
Giatec has debuted what it claims is the world's first concrete AI tool for producers, SmartMix. The web-based AI tool allows producers to optimise concrete ingredient proportions, reduce cement usage, and predict the performance of their mixes while still meeting project specifications.
Giatec believes this tool will lower Greenhouse Gas emissions resulting from concrete production by 400 million tons annually, the equivalent of taking 110 million cars off the road.
SmartMix builds on Giatec's first AI software program Roxi, which has collected millions of data points from the company's SmartRock wireless concrete sensors across 8,000 projects and 80 countries.
Giatec's head of research and development, Andrew Fahim, said the new technologies are going to pave the path forward for the industry to meet increasing infrastructure demands.