As the construction industry grows, many startups serving the companies and clients are coming on board. These startups use multiple ways to enhance the effectiveness and efficiency of construction. Most businesses also utilize construction management software, like Bridgit, to manage their resources and workforce.
You might see a lot of similarities among construction startups. However, each of them offers a unique feature relevant to construction. That could be designing, planning, budgeting, modeling, project tracking, and optimizing resources.
This article discusses the top eight construction startups actively working in the industry.
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According to an estimate, the US residential construction is worth around $609 billion as of 2022. Ergeon entered this industry with a disruptive move by integrating technology targeting the construction of residential projects.
Ergeon is a combination of “Erg,” a unit of Energy, and “Eon,” which means a billion years. The name itself suggests that Ergeon is revolutionizing the construction industry using technology.
This company allows homeowners to plan construction using the technology. In addition, clients can connect to residential construction contractors and Ergeon’s staff globally and plan their projects.
This construction startup serves large-scale construction projects using Computer Vision for risk assessment. Computer Vision is a technology that comprehends digital documents, processes them, and gives useful information.
You already know the risks associated with construction projects. OnSiteIQ helps construction managers to identify potential risks in a project using the following visual documents:
- Images – Pictures taken by a camera of the construction.
- Graphics – Visual documents generated by the computer, like 3D models.
- Videos – Recorded movies or films using a camera.
OnSiteIQ helps contractors and clients to have a preview of the construction for better decision-making.
Toggle provides digital construction tools to ensure high-quality construction. This startup focuses on using tech-based construction using robotics and engineering canibuild siting tool.
The main purpose of this company is to use industrial robotics to assemble rebar before construction and delivering it. Rebar (reinforcing bar) is a metallic supporting material used in every foundational structure.
The steel bars you see at the construction site are rebars that are aligned and fixed either as mats or piers form. Toggle is responsible for assembling rebar according to your project’s requirements and delivering it to the construction site. Meanwhile, you can save rebar time and focus on other construction activities.
This construction startup has eased the task of rebar tying. SkyMul provides drones that function on robotic principles. Each drone is programmed to perform rebar tying regardless of the location, weather conditions, and form of rebar.
The modular drones fly to the location and detect the intersections that need tying. You don’t need to control the SkyMul unit as it independently performs its job, allowing you to focus on other priority tasks.
Considering the offsite construction requirements, Machinio is the largest platform to buy and sell used equipment. Machinio’s mission is to connect construction buyers and sellers on a single platform. So, its users include the following:
- Clients – They can check the rates of construction equipment and negotiate accordingly.
- Contractors – They can buy, sell, or rent machinery according to the project’s requirements.
- Investors – They can invest in heavy machinery and earn profits.
Machinio’s database is full of thousands of suppliers and buyers you can connect with. Using Machinio, you or the contractor can save time looking for the most profitable deal during the procurement phase.
This startup automates onsite data collection through low-powered sensors. Kwant.ai works on artificial intelligence (AI) to provide useful insights for contractors and construction managers.
For example, Kwant.ai can analyze the project’s visual documents and suggest a safety plan for the workers. That helps you decide what course of construction is the most feasible within the budget.
Most Kwant.ai users are contractors, real estate builders, and insurance providers. So, you can increase workers’ safety at the jobsite using Kwant.ai by implementing the measures before construction begins.
Astrea’s goal is to make the construction industry more eco-friendly and mobile. Byeco-friendly, the founders meant to reduce carbon emissions and other wastage during construction. By mobile, Astrea worked on making shippable smart homes.
These homes can be quickly assembled anywhere. With total smart functionality, residents can also start living in their homes and control every feature using their smart devices.
Astrea targets two sectors during its marketing campaigns:
- Places where the population is rapidly increasing.
- Calamity-stricken areas where people need homes.
The company’s long-term goal is to make the first residential project on Mars.
8. Urban Machine
According to research, 3.4 million metric tons of wood is wasted during construction in a year in the US. Urban Machine focuses on wooden wastage from construction and converts it into useful lumber products.
The main action plan of this startup includes developing AI-based robotic systems that can effectively save wood waste. After that, the same system can convert the wood into useful lumber.
Factors to consider in a construction company
Here are three factors to consider if you plan to hire a construction company for your project.
First, look at the company’s portfolio and check how technologically advanced it is. The better the company’s technology, the more accurately it will generate output. There will also be lower costs and time than manually performing construction activities.
Interview the team that will work on the project. Sometimes the portfolio is not enough to verify the worker’s competency, especially if the company uses technical resources like drones and management software.
You can ask different questions from the team leader and members before finalizing your decision.
Due to rising inflation and high competition in the industry, companies might charge you higher to make more profit. However, you must keep the budget in mind while surveying different companies.
The best way is to check the cost structure of each company or contractor online and then negotiate with the potential ones.
You will see more construction startups entering the industry because of ever-upgrading technology. Companies reduce the workforce by investing in the right technology, increasing their profit margins. So, ensure you also keep a fine balance while choosing a construction company to make a profitable deal.