Last Week in ConTech - 18 November 2024
US to triple nuclear capacity by 2050
Last Week in ConTech is a summary of the most important construction startup funding, news, policy changes and national project investments in the last 7 days. The goal is to provide decision makers with information on technology solutions and macro-economic trends in construction to help drive innovation in the industry.
In this issue there are:
20 Startup Fundings
1 Startup out of stealth
12 Policy and Regulatory Changes
1 US election policy updates
7 New National Infrastructure Projects & Priorities
0 New investment fund
0 Acquisition
8 News articles
47 new jobs posted - view here
Reading time: 17 mins
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Startup Funding
Construction Scheduling
Outbuild, a San Francisco startup, raised $11m in Series A funding from investors such as Zacua Ventures, Hilti Ventures and Trimble Ventures. They have developed a construction scheduling and planning software which allows users to build their schedules, lookaheads and weekly work plans within one integrated system allowing a holistic approach including providing advanced analytics such as Percent Plan Complete (PPC) and Percent Roadblock Removed (PRR). More here.
Notes:
An emerging GTM for construction is leveraging LinkedIn influencers.
This strategy works well because construction is a relationship-driven industry where word-of-mouth referrals are highly influential—people prefer working with those they trust or have heard about through peers.
Startups are increasingly adopting LinkedIn influencer marketing by sponsoring posts from popular creators in their niche.
These posts often feature educational or informational content with native product placements.
Influencers typically receive affiliate commissions or direct payments, creating a win-win scenario:
Startups gain access to new audiences.
Influencers can monetize their expertise and reinvest in creating more content.
Outbuild is interesting as they have an ‘inhouse influencer’ - Collin Creach.
Collin is a Senior Account Executive specializing in Growth and Business Development, with extensive experience in the industry as an engineer and in well known construction tech companies.
What he understands is that each post has to provide unique value - it isn’t simply a sales post encouraging a demo.
It allows him to showcase his (and Outbuild’s) expertise and understanding of their customers' challenges.
Even if Outbuild's product isn’t the right fit, Collin’s credibility makes prospects more likely to take a call with him than with a typical account executive, as they see value in the interaction.
It’s an incredibly interesting strategy and I am very curious to further understand the ROI and how Outbuild leverages this as they grow.
Related:
Construction Influencer as a GTM for startups (my post on LinkedIn)
Business Management
OneCrew, a San Francisco startup, raised $3.3m in Seed funding. They have developed a business management platform for the asphalt and concrete paving industry which provides features such as a CRM, estimating, scheduling and job costing. More here.
JobNimbus, a Utah startup, received $330m in Growth funding. They have developed a SaaS solution for the roofing industry which helps users streamline business operations such as creating quotes, ordering materials, scheduling, collecting payments and managing projects. More here.
[View open jobs - 1 role in HR, 2 roles in Customer Success, 1 role in Software, 3 roles in Sales, 2 roles in Marketing]
Augmented Reality
GAMMA AR, a Luxembourg startup, raised strategic investment from Autodesk (undisclosed). They have developed an AR solution which allows the visualization of BIM models on construction sites supporting confirmation of design to as built and understanding of the site layout before construction begins. More here.
Construction Management
Corfix, a Canadian startup, raised Series A funding (undisclosed). They have developed a construction management platform which allows users to manage a variety of tasks such as safety documentation, worker management and timekeeping in a modular and flexible way to meet their needs and improve efficiency. More here
[View open jobs - 1 role in Sales]
Generative Design
Gendo, a London startup, raised £4.3m in Seed funding. They have developed a generative AI platform for architects and designers which helps to turn architectural designs into visualizations, a process which used to take weeks. More here.
[View open jobs - 1 role in Product, 3 roles in Software, 4 roles in Marketing, 1 role in Operations]
Notes:
As you can see above, Gendo’s hiring focus is quite different to most ConTech startups.
Instead of hiring heavily in Sales / Customer Success, they are hiring most actively in Marketing roles specifically, they have a growth hacker role available.
Given their product (provides quick and easy visualizations using prompts) this makes sense.
An ad (or a paid influencer post) could be used to quickly show the value of their product via a short GIF / video.
The best in class example is Clifton, co-founder of TestFit who quickly shows the value of their product in this viral example.
Gendo is currently only running one active ad on Linkedin and none on Meta but I suspect this will ramp up quickly if they are able to onboard an effective Growth Marketer.
Following their ad strategy could be a great case study to see how and if this GTM strategy is effective in AEC.
Green Materials
Prometheus Materials, a Colorado startup, received $10m in Grant funding. They have developed a zero carbon bio-cement and bio-concrete. More here.
[View open jobs - 1 role in Finance, 1 role in Product]
C2CA, a Dutch startup, raised €10m in Series A funding. They are developing a solution to replace conventional concrete materials with upcylces waste concrete replacing virgin aggregates, sand, and cement. More here.
Notes:
The funds are to be used to build a first of a kind waste concrete upcycling facility.
This will be capable of processing 50,000 tons of waste concrete annually,
Brava, a Washington startup, received investment. They manufacture compression molded roofing tiles which are created from recycled materials and offer a longer lasting and durable alternative to traditional roofing tiles such as cedar shake, slate and Spanish barrel tiles. More here.
Alternative Site Power Systems
Radiant, a Californian startup, raised $100m in Series C funding. They have developed a portable 1MW nuclear microreactor designed to replace diesel generators in remote and off-grid areas. More here.
Notes:
This could be valuable for remote construction projects which require consistent clean power e.g construction projects in the arctic or small islands.
3D Printing
Aridditive, a Spanish startup, raised €500k in Pre-Seed funding. They have developed a 3D concrete printer for precast construction and urban furniture companies which reduces manufacturing time and use of materials. More here.
Mapping
Mach9, a Californian startup, raised $12m in Seed funding. They have developed a digital surveying tool which automatically identifies and maps key infrastructure elements like utility poles, road signs, traffic lights, and 100+ other features from massive-scale mobile LiDAR scans which they can convert into 2D and 3D engineering models. More here.
[View open jobs - 5 roles in Software, 1 role in Marketing, 1 role in Design, 1 role in Operations, 1 role in Sales]
Atlas.co, a Norway startup, raised $2m in Pre-Seed funding. They have developed a cloud platform for accessing GIS data which allows users to easily create, collaborate on and share custom maps as well as perform geospatial analysis. More here.
[View open jobs - 2 roles in Software, 1 role in Product, 1 role in Sales]
Vertically Integrated Contractor / Renewable Energy Development
Feld.Energy, a German startup, raised €1.7m in pre-seed funding. They have developed a solar solution which helps farmers use their land for electricity generation. More here.
[View open jobs - 2 roles in Sales]
Notes:
The solution appears to be a vertical sitting solar panel (instead of an angled) allowing for solar power generation as well the movement of plant and machinery in the spaced rows (video here).
To gain adoption, they operate as a vertically integrated contractor supporting farmers with:
Feasibility analysis
They analyze site potential, navigating regulatory challenges such as conservation areas or building law requirements.Project Development
They assist with building permit procedures.Plant engineering
They design the plant to the farmer’s needs.Operation
They operate the plant either alone or with the farmer or municipality.
This is interesting as the challenge for climate tech startups increasingly is in the design and installation phase.
To manage this they are becoming engineering designers / general contractors / subcontractors (installers) who then also monetize through revenue during the operations phase.
ZE Energy, a Parisian startup, raised €54, in Series B funding. They develop, build and operate photovoltaic (solar) power plants with energy storage systems. More here.
Safety
Serenity, a Californian startup, raised $5.5m in Series A funding. They have developed an AI powered Environment, Health and Safety platform which has features such as tracking incidents, conducting inspections, identifying risk and ensuring adherence to safety requirements. More here.
[View open jobs - 1 role in Customer Success]
Algorized, a Californian startup, raised $4.3m in Seed funding. They enable sensing and positioning applications via software only upgrades to commodity sensors which facilitates real time positioning and vital sign detection in any environment. More here.
[View open jobs - 3 roles in Software]
Notes:
This isn’t a construction specific solution but it is valuable for an innovation team to be aware of.
The reason why is innovation teams often function as highly skilled internal consultants and problem solvers.
For example, consider the problem of overhead service strikes on-site.
These incidents happen when a tipper truck completes material deliveries and raises its bed under a power line, breaking the line and causing a critical safety incident.
To address this, the innovation team would analyze the problem and might determine that a technological solution is required.
If no direct solution exists, they would allocate a budget (proportional to the severity of the problem) to collaborate with vendors and develop a novel solution.
Understanding Algorized’s solution is valuable as it is a software only upgrade to a commodity sensor which now allows for sensing and positioning of workers on site as well as tracking vital signs.
There may be a safety or risk use case which this solution now makes economically viable.
Project Management
PMWeb, a Florida company, received investment (undisclosed). They have developed a solution for asset owners to plan, build and operate complex construction projects and asset portfolios throughout their asset lifecycle combining planning, estimating, cost controls, document controls, scheduling, asset management and visual workflows into one platform. More here.
[View open jobs - 2 roles in Sales, 2 roles in Customer Success]
Total Synergy, an Australian company, receiving investment (undisclosed). They develop project management software architecture and engineering practices supporting tasks such as resource planning, project tracking to invoicing and reporting. More here.
[View open jobs - 2 roles in Software, 1 role in Sales]
Other
Cogna, a London startup, raised $15m in Series A funding. They provide software development as a product using AI for the physical industry including construction and civil engineering. The solution enables non-technical teams to describe a pain point, define the context and deliver a working solution within 2 weeks without the need for software expertise in house. More here.
[View open jobs - 2 roles in Sales, 1 role in Software, 1 role in Customer Success, 1 role in Marketing]
Notes:
The traditional approach to software development has been to bring in consultants or buy off the shelf software.
Industries like civil engineering and manufacturing face challenges with traditional software due to their highly heterogeneous problems and diverse, specific processes that require adaptability.
This software as a product platform lowers the cost of development.
It allows domain experts to interact directly with the platform to develop applications tailored to their niche and focused problems, which is more cost-effective than the traditional approach.
It replaces the ‘Operations Developer’ role which (I have seen used to) translates a pain point experienced by a frontline team into product requirements the software development team can enact.
This platform uses AI to automate the IT consultancy process to identify the trickiest business pain points and deliver usable solutions for them.
Out of Stealth
Copay, a London startup, emerged out of stealth after 23 months. They are developing a fintech solution for the construction industry which helps to accelerate cash flow by incentivizing GC’s to pay early and helping subcontractors to unlock cash flow from their clients.
Policy and Regulatory Changes
Federal Reserve cuts its key interest rate by a quarter-point amid postelection uncertainty
The Federal Reserve cut its key interest rate by a quarter-point.
Notes:
This is important as renewables and nascent low-carbon technologies most exposed to high interest rates
According to this article:
Higher interest rates disproportionately affect renewables and nuclear power.
Analysis shows that a 2-percentage point increase in the risk-free interest rate pushes up the levelised cost of electricity (LCOE) by as much as 20% for renewables.
The comparative increase in LCOE for a combined-cycle gas turbine plant is only 11%.
This could spur further investment in renewable energy infrastructure.
Hydrogen has become officially classed as an energy resource.
This gives new rights and regulations in terms of planning, development, utilization, emergency response and storage.
It had previously been classed as a hazardous chemical, making it legally bound by safety regulations rather than energy management regulations.
Notes:
According to the Orange Club Research Institute this means that hydrogen energy will get “defined development plans” at the national, provincial and municipal levels, leading to more orderly growth.
This could also mean that there is great hydrogen infrastructure construction.
New Lawsuit Threatens Michigan’s Permitting Reform Law
Over 70 local jurisdictions appealed the rule implementing part of a new renewable energy siting law – PA 233 – providing primary permitting authority to the Michigan Public Services Commission.
This rule would overrule local opposition to renewable energy.
The law was seen by climate advocates as a potential model for combatting NIMBYs across the country.
California’s climate disclosure laws survive first legal challenge
A federal judge refused to halt enforcement of California’s climate disclosure bills.
SB 253 would require business entities operating in California with annual revenues exceeding $1 billion to report their greenhouse emissions each year.
SB 261 would require business entities with revenues exceeding $500 million to publicly disclose their climate-related financial risks and countermeasures.
Hochul moves to revive Manhattan toll plan after Trump win
New York Gov. Kathy Hochul has taken a step to revive congestion pricing before President-elect Donald Trump, who opposes the extra toll, takes office.
The governor’s office asked the U.S. Department of Transportation whether implementing congestion pricing with lower tolls would require another lengthy environmental review.
Congestion pricing was expected to help raise $15 billion, revenue the transit agency slotted for repairs and upgrades to its aging system.
The Metropolitan Transportation Authority was to begin tolling drivers entering Manhattan’s central business district in the summer.
Mark Zuckerberg's Nuclear-Powered AI Plans Thwarted by Bees
Plans to build a new AI data center near an unspecified nuclear plant, hit a roadblock.
Surveyors reportedly stumbled upon the endangered bees during an environmental review of the area, forcing regulators to suspend the project.
Notes:
Meta reported a 65 percent increase in Scope 3 emissions—indirect emissions from across a company's value chain—in just two years.
Google's emissions climbed by nearly 50 percent last year as a consequence of new AI data centers.
With increasing public pressure, companies have been looking to nuclear power as a potential answer.
Skydio, the largest American drone manufacturer, announced it is being forced to ration batteries for its customers due to supply constraints caused by the Chinese government’s sanction.
The firm described it as an effort to “eliminate” it and increase the world’s reliance on Chinese-made drones.
Skydio was one of three American companies sanctioned by China earlier this month, along with military shipbuilder Huntington Ingalls Industries and military drone maker Edge Autonomy Operations.
The Chinese foreign ministry mentioned the U.S. government’s announcement of “substantial military assistance” for Taiwan.
Notes:
Global power tensions and resultant sanctions are impacting parts of the US and China’s economy.
If this continues, this may result in further manufacturing construction spending as the US would accelerate reshoring of key industries and near-sourcing of goods from Mexico.
German opposition MPs propose checking feasibility of restarting nuclear plants
Lawmakers of Germany’s largest opposition party alliance have called for an expert assessment of whether recently decommissioned nuclear power plants could be reactivated.
In the “Energy Agenda” policy paper the politicians call the completion of Germany’s nuclear exit during the energy crisis “an ideologically motivated and wrong decision” by chancellor Olaf Scholz’s government coalition.
Notes:
Germany shuttered its last three nuclear plants in April 2023, three months later than the December-2022 date.
Scholz’s government kept the three plants running longer than initially planned after months of debate about whether to have additional backup capacity amid the energy crisis fuelled by Russia’s war on Ukraine.
Government of Canada invests $10.45M to accelerate residential construction in Quebec (Canada)
The program, Regional Homebuilding Innovation Initiative (RHII), is aimed at boosting innovation among manufacturers in the multi-unit residential construction sector.
Investments under the RHII will make it possible for builders in Quebec to construct more homes more quickly.
DOE earmarks nearly $150M for 67 clean tech projects at federal facilities
Selected agency projects will deploy energy conservation and clean energy technologies like solar photovoltaic systems, wind, geothermal, battery energy storage systems, microgrids and building automation systems.
The awards represent the second and final tranche of $250 million allocated under the bipartisan infrastructure law to the AFFECT program.
This aims to help the federal government to achieve President Biden’s net-zero greenhouse gas emissions by 2045 goal.
New York's rules on turbine transportation are blowing its climate goals out of reach
State Department of Transportation policies surrounding the transit of turbines, which are considered “super loads,” limit the hours and frequency the machinery can hit the road.
The big rigs hauling the turbine parts must be escorted by state troopers working overtime.
Wind farm developers say this means they can only deliver the components of two-and-a-half turbines each week.
New York state aims to produce 4,000 megawatts of onshore wind energy by 2030.
Notes:
This is an example of the complexity and importance of supply chain preparation and design in construction.
More money does not necessarily alleviate an issue and redefining a super load is difficult as it could have second order impacts and risks which the government could take months exploring.
The aim of the pilot is to help the city’s Office of Climate Action, Sustainability & Resiliency to gather data to better set rebates and incentives for heat pumps.
Stores, offices and apartment buildings are in line for $7.5 million in help to cut monthly energy bills by installing new systems.
US election policy updates
The 5 states where environmental ballot initiatives triumphed
In Minnesota voters approved a constitutional amendment to continue allocating at least 40% of state lottery revenue to an environment and natural resources trust fund until 2050.
In California, Proposition 4 authorized the government to borrow $10 billion for a number of environmental projects.
A proposition in Colorado approved the use of tax revenue from sports betting for water conservation and management projects.
Rhode Islanders approved $53 million in government borrowing for projects related to flood prevention, restoring coastal habitats, and improving forest health.
In Louisiana, voters supported a constitutional amendment requiring federal revenue from offshore energy generation including wind, solar, and tidal energy, in addition to oil and gas to be placed in a fund for coastal restoration.
Related:
National Infrastructure Projects & Priorities
US
Biden administration sets plan to triple US nuclear energy capacity by 2050
The plan involves deploying 200 GW of net new capacity from newly constructed reactors, restarts of reactors idled for economic reasons and power uprates of generating equipment at existing nuclear power plants.
It envisions 35 GW of new nuclear capacity operating or under construction in the U.S. by 2035.
The United States last year was among 25 signatories to the Declaration to Triple Nuclear Energy, an “aspirational goal” to triple global nuclear energy production from 2020 to 2050.
Avina Clean Hydrogen Breaks Ground on Landmark Green Hydrogen Facility in Vernon, California
The facility is designed to produce up to 4 metric tons per day (MTPD) of compressed green hydrogen through electrolysis.
Once operational, it will be among the largest integrated electrolytic hydrogen production and refueling sites globally.
China
China frontloads a budget of $7.87 bln to support urban affordable housing projects
This part of 2025's central government fiscal funds will be used for affordable housing and the renovation of urban villages, old residential quarters and shanty towns.
India
India Explores Cross-Border Power Grids
India is in advanced discussions with several Gulf and Asian nations to establish cross-border power grid connections.
This initiative aims to create a unified, sustainable electricity grid that connects Asia with the Gulf enhancing energy security and promoting renewable energy distribution across regions.
Australia
World's largest renewable energy plant would be bigger than entire countries
At full development the project is now slated to have a capacity of 70GW.
It could generate over 200TWh of renewable energy annually, depending upon the mix and size of its wind and solar farms.
This is “similar in magnitude” to Australia’s current total power generation, say the developers.
The project will be spread across 22,700 square kilometers of coastal desert land.
The developers now plan to erect up to 3,000 wind turbines.
Brazil
Brazil opts not to join China’s Belt and Road Initiative
The country is to work on developing “synergies” with China, without formally joining the BRI.
China is expected to offer opportunities to Brazil in the fields of infrastructure, solar energy, and hybrid or electric cars.
Fuella signs agreement for $1.5 billion Brazil green ammonia project
Fuella signed an agreement with the Port of Pecém to invest $1.5 billion in developing a project to produce 400,000 tons of green ammonia annually in Pecém, in the State of Ceará, Brazil.
Fuella noted that Ceará is an ideal location for producing green hydrogen and ammonia due to its abundant wind, solar, and hydropower resources.
News
M&A in Construction Tech – Part I (Zacua Ventures)
Sustainability Report 2024 (noa vc)
The Terafactory (Mark to Market & Last Week in ConTech)
Can we revolutionize the built world with lessons from Apple and Tesla?
Microsoft introduces new adapted AI models for industry
Microsoft announced adapted AI models, expanding their industry capabilities and enabling organizations to address their unique needs more accurately and effectively.
Notes:
Microsoft notes that to truly meet AI potential, it needs to be tailored to an industry.
There is no construction model they have released.
Given Microsofts’ near 100% penetration in construction (no one uses google sheets vs excel), startups need to consider how they can build a solution which is a meaningful improvement and / or differentiated from any product Microsoft could bring to market in the industry.
How the EU taxonomy has impacted companies in the construction and forest sector in the Nordics
The report examines how companies in the forestry and construction sectors have responded to the EU taxonomy Regulation.
Key findings indicate that there is still a lack of interest from investors and customers on Taxonomy sustainability criteria, therefore the regulation has had limited impact on sustainability actions.
Malaysia’s new data centers create thousands of jobs — and worries about power and water shortages
Malaysia is adding data center capacity at the fastest pace in the Asia-Pacific region.
This has included ~850 MW in potential electricity demand announced in the first half of 2024.
Johor, the southern state which borders Singapore, has drawn about 50 data center projects in the last three years.
The total capacity of data centers in Johor, including those that are under construction or in the planning stage, has grown 100 times in the last five years.
Singapore imposed a temporary moratorium on its data center expansion in 2019, due to resource and land constraints leading to growth in Johor.
Data center demand is creating concerns about electricity and water availability with more frequent power outages and water disruptions.
Central Paris is now closed to through traffic
Global Electricity Demand Is Rising Faster Than Expected, I.E.A. Says
The agency now expects global electricity demand to be 6 percent higher in 2035 than it forecast last year.
If I missed anything this week, please reply and let me know! I’ll make sure to include it next week.