$15M Investment to help SiteAware Advance their AI-Powered Drone Construction Verification System
Image: SitAware video screen shot
Commercial drones have made massive progress in recent years. They have changed the way we do business, agriculture, security, and many other sectors. Construction is one area they really shine, and thanks to the new developments by SiteAware, there is even more good news.
Construction is expensive and time-consuming. There is little margin for error. It is, however, essential for growth and development. Our economy depends on quality and efficient construction. SiteAware has harnessed the power of AI and drone automation to make the process faster and better.
Their drone-powered and AI-based construction verification system (has just received a $15 million cash injection). This is thanks to Series B funding. This is a major boost for their efforts in tech services for the construction industry.
The aim is to increase client adoption of the AI Digital Construction Verification platform that SiteAware has developed. This sets new standards for the building industry in the US.
Video: YouTube user: SiteAware
Digital Construction Verification
DVC or Digital Construction Verification uses the specifications and blueprint to create a virtual model of the end result. This allows the technology to track building progress, as well as accuracy. Any issues in the building process can be extremely costly. Progress deadlines are critical, and accuracy is essential.
The DVC creates a model and then, in conjunction with people using sensors and on-site cameras, the AI-powered drones are able to closely track and monitor all stages of construction.
The data that is captured is compared to the model to determine if there are any issues. Flaws in construction will be identified quickly before too much damage is done. Scheduling lags are also quickly identified to ensure that the project remains on track.
By identifying these issues quickly, the project will run more smoothly, and many costly issues can be avoided or at least mitigated. Real-time, accurate feedback is a massive advantage and can potentially save vast amounts of money.
Undetected errors often result in additional issues down the line. These can run into millions. The SiteAware system helps to avoid these expensive issues. The AI system picks up anything that deviates from the plan, allowing the crew to rectify the situation before it is compounded by more problems.
Late completion penalties, building mistakes, and remedial work costs can all be drastically reduced by using this easy-to-manage technology. The liability risks and insurance costs can also be reduced. Getting projects in on budget and on time is crucial for commercial success and the technology offered by SiteAware will go a long way to helping those operating in the building sector to achieve these goals.
CEO of SiteAware, Zeev Braude, says “SiteAware’s DCV error prevention technology is disrupting the construction industry by dramatically accelerating schedules and streamlining work processes for all parties. In the next few years, everyone from contractors to developers will be using DCV to build without rework. DCV gives the construction ecosystem access to data they’ve never had before, data that holds the key to the next jump in productivity for the industry.”
The recent funding injection will help to overcome the relatively slow adoption of this cutting-edge technology. The potential of DVC is phenomenal, but many builders have been slow to realize the extent of the benefits. The costs are negligible in comparison to the potential savings and the improved efficiency.
Emanuel Timor, from the investment partner Vertex said, “As the first mover in this new category, SiteAware is blazing a trail for the entire construction industry, allowing the sector to leverage technologies that will ultimately make it more efficient, more transparent and smarter.”
This is a great leap forward for the building industry and validation of the benefits of AI and drone technology. The sooner companies start to harness the available technology, the better for the industry. Construction is an integral part of any growing economy and anything that can help to make it faster, better, and more efficient should be welcomed.