Despite the impact of the COVID-19 pandemic on global supply chains and other economically important systems, 2020 still managed to produce major tech breakthroughs, as well as thousands of startups. This time, we analyzed 2.642 construction startups, all of them developing innovative solutions spanning from automated construction monitoring, project management, and sustainable material procurement. In this report, you will discover 5 emerging construction startups.
The 5 promising construction startups you should watch in 2021 were hand-picked based on our data-driven startup scouting approach, taking into account factors such as location, founding year, and relevance of technology, among others. The 2.642 companies that were analyzed are identified using the Big Data & Artificial Intelligence (AI)-powered StartUs Insights Discovery Platform, covering 1.379.000+ startups & scaleups globally. When you are looking for up-to-date solutions for your innovation units, R&D, or product development department, the StartUs Insights Discovery Platform gives you the most exhaustive collection and ensures you continuously discover new startups, scaleups, and technologies.
Global Startup Heat Map: 5 Top Construction Startups to Watch in 2021
The Global Startup Heat Map below highlights 5 construction startups developing technology-driven solutions for various industries. Moreover, you can explore global hotspots for construction startups and even download this graphic to include in your next presentation.
Offsight – Project Management Software
Construction project managers have to make assessments, plans, and budgets based on various uncertain assumptions, often resulting in delays. However, digital project management tools enable construction planners and site officers to centrally manage all operations in real-time. Emerging construction startups help project managers shift to digital planning and tracking and increase the productivity to complete projects in time.
Offsight is a US-based startup developing factory-ready project management software for the modular and offsite construction sector. The startup enables offsite construction companies to address the delivery, quality, traceability, and communication challenges of modular and project-based manufacturing. For example, construction project management software allows quality inspectors and operators to identify potential assembly issues and easily assign and track the progress of resolutions.
Tane – Project Communications
While the involvement of multiple stakeholders and workers can cause delays, the lack of proper communication channels and resulting miscommunication often leads to unnecessary rework and customer dissatisfaction. The deep penetration of smartphones globally allows emerging companies to develop simple and easy communication tools for the construction sector.
Tane is a US-based startup providing an end-to-end communications solution for improving client-contractor engagement. Tane’s smart workflows enable construction project managers to send detailed and personalized updates to clients with just a few clicks. Further, automated reminders keep clients updated about the progress of the work. The solution is also suitable for handling multiple projects.
Concular – Circular Construction
As a considerable contributor to global carbon dioxide emissions, construction companies are looking for ways to implement sustainable practices. From using eco-friendly and smart construction materials to reducing emissions from existing buildings, technology enables construction companies to make the shift to a more circular economy. Moreover, employing sustainable practices also reduces overall costs for construction companies.
German startup Concular supports construction companies to employ sustainable practices with the help of a broad network of partners. The startup’s circular construction platform enables intelligent data-based material mediation between dismantling and new construction projects and real-time life-cycle assessment. The platform is useful for builders, portfolio managers, architects, construction companies, and dealers looking to reduce both material costs and carbon footprint.
Oico – Material Procurement
The opaque nature of construction procurement results in an industry where word of mouth communication yields the best results. However, this system limits the choices available for construction companies and leads to increased costs. Startups take advantage of the popularity of e-commerce and delivery solutions to create transparent marketplaces for procurement teams in construction companies.
Brazilian startup Oico builds a digital platform for construction material procurement and logistics. The startup performs as a specialist purchasing manager to enable end-to-end support for material purchase and delivery. Moreover, Oico’s app allows contractors and procurement teams to acquire the required materials within minutes. This frees up valuable time for purchasing teams to focus on more complex projects.
ViAct – Automated Construction Site Monitoring
Emerging startups are looking to address the significant challenges in terms of construction workers’ safety. Every year, thousands of construction workers are involved in on-the-job fatalities resulting from miscommunication and a lack of alerting mechanisms. Across labor-intensive industries including construction, companies are starting to install video cameras and/or equip their workers with wearable devices to increase their safety. In addition, tech startups combine video and image data with artificial intelligence algorithms to automate various aspects of construction site monitoring.
Chinese startup ViAct utilizes artificial intelligence to automate construction monitoring and improve construction site safety. In addition to AI, ViAct combines the internet of things (IoT) and 5G solutions with computer vision technologies to further increase construction productivity and compliance. For example, the startup’s monitoring and alerts solution warns project supervisors about their site’s danger zones and automatically detects injury hazard situations. The solution helps construction companies streamline their operations while improving worker safety and compliance.
What does 2021 bring for construction companies?
To stay ahead of the technology curve, it is important that you know which technologies and industry trends will impact your company in 2021. You can explore our free Construction Industry Report or let us do the work for you. To keep you up-to-date on the latest technology and emerging solutions, we provide you with actionable innovation intelligence – quickly and exhaustively.