Last Week in ConTech - 15 January 2024
The US starts its largest clean energy infrastructure project + Biden aims to recalissfy gig workers
A summary of the construction technology (ConTech) startup funding, news, acquisitions, policy and regulatory changes which occurred this week.
Last Week in ConTech - 15 January 2024
In this issue there are:
11 Startup Fundings
8 Policy and Regulatory Changes
0 New investment funds
2 Acquisitions
10 News articles
+ 1 Cool Photo
Reading time: 6m 30s
Startup Funding
Site Autonomy
Burro, a Pennsylvanian startup, raised $24m in Series B funding. They build autonomous ground vehicles which can be used in the construction, concrete and solar industries for material handling activities. More here.
[Hiring - 2 role in Software, 1 role in Operations, 2 roles in Other]
Construction Management
Tractis, a Kansas startup, raised $9.1m in debt. They are building a construction management platform for heavy and civil construction companies. More here.
Water
120Water, an Indiana startup, raised $43m in funding. They provide a cloud based water management and testing system which is used by municipalities to manage critical water quality programs. More here.
[Hiring - 1 role in Sales, 1 role in Support]
Fasal, an Indian startup, raised funding (undisclosed). They provide Internet of Things crop intelligence technology to help farmers reduce water consumption and increase yields. More here.
[Hiring - 1 role in Sales, 1 role in Operations]
Note:
Fasal’s offering includes an irrigation solution to optimize the use of water.
As climate change and water security becomes a rising concern, local councils/governments and building owners will require smart irrigation solutions for their green spaces such as gardens and sporting fields.
Geotechnical
Rocscience, a Toronto startup, raised funding (undisclosed). They provide geotechnical software solutions specializing in 2D and 3D modeling, simulation and analysis of rock and soil behavior. More here.
Decarbonization
LivNSense, an Indian startup, raised $2.75m in funding. They provide digital twins to help heavy industry companies (including cement and asphalt plants) reduce their emissions. More here.
[Hiring - 1 role in Marketing]
HVAC
Blue Frontier, a US startup, raised $17m in funding. They provide ultra efficient sustainable air conditioning systems for the built world. More here.
[Hiring - 4 roles in Other, 1 role in Marketing]
Tibo energy, a Netherlands startup, raised €3m in seed funding. They provide smart energy management software for companies to monitor and manage energy assets including heat pumps and solar panels. More here.
[Hiring - 1 role in Software]
Electrification
Qiyuan Green Power, a Chinese startup, raised $211m in Series B funding. They are electrifying heavy duty trucking and building charging facilities having already built 580 charging facilities in 2023. More here.
Other
Aerones, a Latvian startup, raised €4.4m. They provide robotics maintenance solutions for wind turbines.
[Hiring - 2 roles in Software, 2 roles in Finance, 2 roles in Sales, 1 role in Operations, 12 roles in Other]
Pattern Energy, a San Francisco company raised $11b in tax equity and loan financing. They develop, construct, own, and operate high-quality wind, solar, transmission, and energy storage projects across North America. More here.
Note:
The funding will be used to build a 550 mile transmission line between New Mexico and Arizona.
This project is one of the largest clean energy infrastructure projects in US history.
Navigating permits and approvals for the project took 17 years.
Regulatory & Policy changes
Everything to know about the Biden administration's new rule on gig workers
The new rule makes it more difficult for employers to classify workers as independent contractors.
A typical construction worker would earn $16,700 less a year if classified as an independent contractor.
The 6 factors used to determine if a worker is an employee or contractor are:
The degree to which the employer controls how the work is done.
The worker’s opportunity for profit or loss.
The amount of skill and initiative required for the work.
The degree of permanence of the working relationship.
The worker’s investment in equipment or materials required for the task.
The extent to which the service rendered is an integral part of the employer’s business.
How 3 states are attacking carbon emissions from transportation
On Nov 22, 2023, the Biden administration created the Greenhouse Gas Performance Measurement rule requiring:
State DOTs to establish 2 year and 4 year statewide emissions reduction targets.
Metropolitan planning organizations to set 4 year emission reduction targets.
On Dec 21, 2023, 21 states filed a lawsuit claiming the US DOT and Federal Highway Administration does not have the authority to issue these measures.
Property Owners File Lawsuit Challenging Colorado’s Building Energy Mandate
A lawsuit has been filed against Regulation 28.
This regulation imposes new energy performance standards on large buildings requiring a reduction in emissions by 7% in 2026 and 20% in 2030.
It affects any commercial or residential building over 50,000 square feet (~8000 buildings).
New buildings that use natural gas lose final utility subsidy in California
California will not allow new buildings which burn fossil fuels onsite to receive subsidies from utilities for electric line extensions.
Climate training for construction workers coming soon
Canada's Building Trades Unions (CBTU) is launching a free training initiative.
The program targets trades instructors, offering free online and in-person courses to integrate climate change education into apprentices' training.
Related:
Montamo, a Berlin startup, provides training to help migrants become skilled construction workers in the energy sector. They too follow a hybrid approach of specialized in person training centers and digital solutions to address the skills shortage.
‘Embodied carbon regulation needed for net zero success’, guidance argues
The Net Zero Building center has released a new report highlighting the need to manage embodied carbon in construction.
Embodied carbon represents the carbon emissions released during the lifecycle of building materials, including during the supply and disposal.
The funding is a part of the federal government’s $7.5 billion push to build a national EV charging network.
The aim is to build a national network of 500,000 publicly available chargers by 2030.
British Columbia, Canada has passed regulation to speed up home construction
The following bills have been passed:
Bill 47: Municipalities must allow more density around transit, specifically high-rises between eight and 20 storeys.
The following is being proposed:
Mass Timber: The building code is proposed to allow mass timber structures up to 18 storeys (instead of 12).
Acquisitions
BlackRock, an investment management company, agreed to acquire Global Infrastructure Partners (GIP). More here.
Note:
GIP is one of the largest infrastructure investors.
They manage $100b in assets and companies in their portfolio have combined annual revenue over $80b employing ~100k people.
HqO, a real estate software company, acquired Symbiosy, a smart building platform which provides air quality and space utilization information. More here.
News
Arup guide to EU Carbon Legislation
Modulus, a modular housing firm set to go into administration. More here.
(Thanks Will Synnott for the share)
A metric to think about when deploying Construction Tech to field teams (Linkedin Post by Brian Vizarreta)
Time to Value (TTV): how long it takes someone to see their first glimpse of value from a product/service after a purchase is made.
Office-to-residential conversions raise questions at the curb
In the US empty offices are being converted into housing.
This is expected to create 122,000 apartments.
Curbside management and parking is an important consideration in building conversions.
Narrower City Streets Could Actually Be Safer: Study
Can we turn all those empty office buildings into housing?
Propane-powered heat pumps are greener [The Economist]
Construction’s biggest staffing struggles for 2024
Why Cities are Turning to Climate Change Dashboards
4 more manufacturers advance in DOE’s cold climate heat pump challenge
A Cool Photo
Linkedin Post from Sal D'Ambrosia
The construction industry has come a long way, and the landscape has evolved.
We can no longer rely on traditional methods and 3000 individuals to construct simple office buildings.
Next time someone insists they don't need construction technology, share this image of the field crew at the Manhattan Bank Building with them.
Let's embrace the change and move forward together.
If I missed anything this week, please reply and let me know! I’ll make sure to include it next week.