Jun 8, 2020

Rhumbix: Collect field data, not documents

ConTech
Technology
software
Innovation
Dan Weatherley
3 min
Rhumbix Solutions
We take a look at Rhumbix’s range of products and solutions that are enabling smarter field workflows built for the way you work...

Founded in 2014 by Sach Scheel and Drew DeWalt, Rhumbix has gone from strength to strength thanks to its range of products ranging from timekeeping and payroll solutions to T&M tracking and daily construction reports.

Rhumbix has raised funds from some of the most respected venture capital investors such as Greylock Partners, Tenfore Holdings, Blackhorn Ventures and many others. During the middle of 2018, Rhumbix became an Autodesk Forge Fund partner.

In addition to Founders’ Zach Scheel and Drew DeWalt, the company has three further leaders. Forrest Junod focuses on Software Engineering whilst Josefine Mullen takes a stand on client success. Finally, Caspar Yen is in charge of the company’s growth strategy as the Vice President of Growth.

Rhumbix’s Mission

Rhumbix believes in solutions that deliver value to workers before anyone else, using them as the lens through the firm’s decision processes.

It aims to continuously improve and innovative in the way the world is designed and constructed by empowering the workforce with technology. The company also keeps its values at heart, with trust and transparency being a top priority for the company which enabled it to create inclusion, centralised communication and empowered execution.

A culture of #GAINS continuously enables Rhumbix to achieve the extraordinary, whilst enabling it to challenge itself and each other and pushing for continuous improvement.

Solutions

As we’ve already mentioned, Rhumbix offers a wide range of solutions for a variety of different applications. Each solution has been built from the ground up, from years of experience on the jobsite which makes Rhumbix’s innovative solutions a step above its competitors.

Rhumbix’s solutions allow you to unlock your field data thanks to the wide rage of features offered, whilst being easy to use, intuitive and incredibly feature-packed without the dreaded complexity which can be typical of high-tech solutions.

The firm’s time & materials tracking functionality enabled everyone to stay on the same page and reduce disputes by completely eliminating late and lost T&M tags. It also provides a system of record for all project stakeholders.

The company’s timekeeping and payroll features enable simple, fast and accurate timekeeping with an ultimate goal of completely streamlining processes. Timecards can be submitted within minutes and payroll can be completed quickly with the pristine accuracy you’d expect for a tool of this kind. In addition to this, Rhumbix is able to eliminate 90% of time spent on paperwork whilst utilising a closed-loop feedback feature to drive production.

Innovative production tracking enables you to track, analyse and optimise labor productivity effectively. Rhumbix describes itself as “a single source of truth for real-time field data”. The solution can also provide project stakeholders with accurate information whilst highlighting any trends and problem areas. This has been designed so you can get back on track as soon as possible.

Daily construction reports are also built into Rhumbix’s products which can enable you and your company to track projects through the use of real-time field data. These can be created and shared instantly with project stakeholders and can be created in minutes. The reports can also allow you and your company to reduce disputes and legal actions

IMAGE CREDIT: Rhumbix

There’s so much more to love about Rhumbix’s innovative products. To see how it could help your business, take a look at the website to view the solutions in more detail.


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Jun 14, 2021

XYZ Reality receives £20m to develop Assisted Reality

AugmentedReality
construction
DigitalTransformation
Technology
Dominic Ellis
3 min
XYZ Reality to use funding led by Octopus Ventures to springboard into USA and automatically report issues through Assisted Reality

XYZ Reality has announced a £20m investment round led by Octopus Ventures.

Founded in 2017, XYZ Reality aims to "revolutionise" the construction sector with its Engineering-Grade Augmented Reality (AR) solution, Holosite.

Designed to enable an on time and on budget delivery of construction projects, by eliminating building errors, HoloSite has been available to select customers through an early access programme and has already been used on projects totalling a value of over £1.5bn in the last year. 

With approximately 98% of construction megaprojects facing cost overruns or delays and 7-11% of project costs being spent on correcting errors, XYZ Reality’s purpose-built integrated AR solution directly addresses these issues.

With its safety certified AR hardhat, cloud platform and in-built proprietary software, Holosite accurately positions high fidelity 3D design models on construction sites, enabling teams to build it right, first time. The technology system has been used on complex construction projects including data centres, pharmaceutical facilities and airports.     

This funding will be used to accelerate the company’s ambition of transforming projects by preparing for HoloSite’s commercial launch in the USA and continuing investment in strengthening research and development. The company is also growing its London team to include key hires across technology, manufacturing, sales and marketing.

David Mitchell, Founder and CEO of XYZ Reality, said developing its engineering-Grade AR solution helping construction teams identify errors in real-time is just the start.

"The next phase is Assisted Reality, where our spatial computing technology will have the intelligence to automatically detect and report issues in the field. And ultimately, the goal is builders building from holograms. Our vision of developing world changing products aligns with Octopus Ventures’ mission of investing in companies that are powering the next industrial revolution. We look forward to building history.”

The latest round of funding is led by Octopus Ventures, one of the largest and most active venture investors in Europe, known for its commitment of investing in companies and founders that are changing the world. Octopus Ventures has a strong track record, spanning investment in health, fintech, consumer, B2B software, and deep tech. This includes WaveOptics, one of Octopus Ventures’ early investments in Augmented Reality, which was recently acquired by Snap Inc. 

Rebecca Hunt, early-stage investor at Octopus Ventures, said: "We’ve always invested in entrepreneurs leading industry change and XYZ is doing just that. It's solving a massive problem that costs the construction industry billions every year, using its Engineering-Grade Augmented Reality solution to spearhead a shift in the sector’s approach. The founding team of David, Umar and Murray have deep domain and technical expertise, which we believe makes XYZ uniquely placed to drive this transformation.”

XYZ Reality also announces a new partnership with Mace, for the construction of a hyper-scale data centre in Europe. With speed to market being particularly essential for mission critical builds, HoloSite’s AR technology will have a significant role in supporting an accurate and time effective build for Mace, which last week appointed Jon McElroy its new Managing Director for International Technology.  

Mace Technical Director, Stephen Henley, said: “Mace has built a reputation of redefining the boundaries of ambition, always bringing efficiency, innovation and responsibility to our projects. With the implementation of XYZ’s groundbreaking AR system, we continue to be committed to delivering projects faster, safer and better than ever before.” 

Five years ago, Heather Bellini of Goldman Sachs Research expected virtual and augmented reality to become an $80 billion market by 2025.

But according to new research by global tech market advisory firm ABI Research, nearly 28 million augmented and mixed reality smart glasses will ship in 2026, while the total global AR/MR market will surpass $175 billion in the same year.

"Major tech players across hardware, software, and services look familiar in the consumer space, contributing to strong and consistent overall growth," says Eric Abbruzzese, Research Director for ABI Research. "Those big tech names, with active investment and product ranging from already available, to announced, to all-but-announced, are creating a consumer AR market that will be dynamic and welcoming rather than struggling and immature."

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