Last Week in ConTech - 6 July 2026
Is Vietnam the next Construction Tech Opportunity?
Deep Insight: Is Vietnam the next Construction Tech Opportunity?
This week, Bloomberg Businessweek announced the inaugural Vietnam Infrastructure Symposium.
They intend to bring over 100 leaders from government, business, finance, investment and industry to discuss how infrastructure development will support Vietnam’s next phase of economic transformation.
It’s interesting because on Last Week in ConTech, we’ve tracked an increasing amount of infrastructure announcements and regulatory reform coming from the country.
Key infrastructure announcements have included:
A $67 billion high-speed rail network to connect the northern and southern provinces.
$48 billion in 250 project investments with other sources financing another 121 projects worth ~$30.5 billion.
At the same time Vietnam is undertaking regulatory reform reshaping how projects are delivered including:
Considering using private capital to fund railway infrastructure.
Announcing the Just Energy Transition Partnership (JETP), targeting peaking power sector emissions by 2030, and sourcing at least 47% of its electricity from renewables (seeded with $15.5b).
Proposing removing construction permits in urban areas.
And they’ve just completed a multiyear reform process to their construction law, going into effect on July 1, replacing the previous 2014 law. It’s aimed at modernizing Vietnam’s construction legal framework, streamlining administrative procedures, and aligning with digital transformation and sustainability goals.
In parallel, the country has been upgraded from Frontier Market to a Secondary Emerging Market by FTSE Russell’s Equity Country Classification Framework which evaluates markets based on a set of quantitative and qualitative indicators that measure openness and regulatory quality.
This upgrade comes into effect September 21, 2026 and is projected to attract billions of fresh investment flows.
It means that Vietnam’s market is becoming more accessible for foreigners while the government is exploring infrastructure investment as a means of increasing economic growth.
This level of funding provides an opportunity for construction startups, especially if they are able to align their solution to digital transformation goals.
Regulatory announcements like Decision 2597/QD-TTg signed by the Deputy Prime Minister outline the opportunity as they are developing:
A legal framework supporting digital transformation.
Issuance of technical standards on data, digital platforms, BIM, IoT and smart infrastructure.
A national BIM data repository with BIM becoming mandatory for level-II and above works in new projects using specific sources of capital.
And by 2030, all new infrastructure projects are to use AI, IoT, GIS and BIM from design to supervision, QC and operation with full transformation occurring by 2035.
As these changes become enacted, they’ll be a growing demand for digital solutions. But startups still need local expertise.
As a recent report noted, corruption and fraud risks exist in Asia Pacific construction projects. This can artificially manipulate the market and change the value proposition for a solution. For example in intentionally opaque markets cost tracking solutions are unlikely to be adopted.
It means that translation is an important exercise and provides an unfair advantage to local entrepreneurs. They have an opportunity to identify best in class global solutions and copy or tailor them to the Vietnamese market.
The opportunity isn’t yet the size of markets like India or the US, but it is growing and likely to become a larger part of the global contech opportunity.
In this issue there are:
10 Startup Fundings
1 Startup Emerged from Stealth
20 Policy and Regulatory Changes
6 New National Infrastructure Projects & Priorities
0 New investment funds
0 Acquisitions
9 News articles
55 new jobs posted - view here
Reading time: 15 mins
Startup Funding
AI
1001, a Gulf region startup, raised $30m in funding. They are building an AI operating system which is to unify data into a live operational system for critical infrastructure companies, helping them to make better decisions. They service construction firms, port, energy and airport operators. More here.
Build, a San Francisco startup, raised $8.5m in Seed funding. They are building a multi-agent AI system to help governments, developers and investors accelerate critical infrastructure workflows including site sourcing, technical due diligence, power assessment and early design for use cases such as data centers, energy and power infrastructure and industrial and logistics facilities. More here.
Design
Higharc, a North Carolina startup, raised $95m in Series C funding. They are building a generative design platform that models homes as dynamic 3D spatial databases to automatically generate precise permit ready construction documents and real time takeoffs. More here.
Proposals
BidScript, a UK startup, raised $800k in funding. They are building a tender management platform which helps businesses to find, manage and submit bids for public and private sector contracts, initially focusing on multiple industries including construction and engineering. More here.
Drones
StirlingX, a British startup, raised $20m in Series A funding. They build, own and operate drones for critical infrastructure and national security projects as well as servicing the construction industry, for inspection and monitoring related tasks such as progress monitoring, surveying, inventory assessments, quality and compliance and safety. More here.
Emesent, an Australian startup, raised AUD$15m in funding. They are a drone mapping startup which operates Hovermap that uses LiDAR to build 3D maps of hazardous, GPS-denied environments like mineshafts used primarily by mining companies but extends into infrastructure and construction offering additional services such as as-built surveys, bridge inspection, scan to BIM and topographic surveys. More here.
HR
HR Duo, a UK startup, raised £1.4m in funding. They are building a HR, compliance and workforce management solution that brings together time and attendance, rostering, employment relations and more for shift based and frontline workforces operating across industries including construction. More here.
Green Materials
VASO Global, a UK startup, raised over £5m in a combined venture, grant, and debt funding round. They develop and manufacture structural composite panels from recycled glass. More here.
Future Infrastructure
Aseon Labs, a Californian startup, raised $10m in Seed funding. They develop specialized, automated modular pods which are engineered to autonomously inspect, clean and recharge driverless cars. More here.
Notes:
While this isn’t a traditional ‘ConTech’ startup, the solution is a reflection of how autonomous vehicles require a rethink of city infrastructure.
The reason why is as the cost of autonomous vehicles falls, traditional car owners decide that they no longer need personal vehicles.
This has second order effects on infrastructure resulting in less road congestion, less parking bays required and different requirements in terms of support infrastructure.
Parking garages may be renovated into ‘depot infrastructure’ or ‘staging areas’ where fleets of robotaxis are inspected, maintained, cleaned, and charged in between trips.
Other second order effects that have been mentioned include M&A activity in the line marking services segment.
Autonomous vehicles can require clear line marking on roads which may need teams to paint road lines more frequently.
Related:
Southern Launch, an Australian startup, raised $25m in Series A funding. They are building and providing spaceport infrastructure as well as providing launch related services to space mission customers. More here.
Notes:
Spaceport’s could become a new infrastructure class similar to airports.
This involves building and maintaining launch related infrastructure which can be used by public and private companies.
Their planned revenue lines are:
Orbital launch: managing all aspects of range operations including ground, air and maritime traffic management.
Sub-orbital missions: hosting launch-vehicle development testing, microgravity experiments, and hypersonic flight.
Orbital re-entries: an end-to-end service bringing spacecraft capsules back to Earth.
Range services: renting out over 41,000 square kilometres of secure, uninhabited land for technology testing, with regulatory approvals and range management bundled in.
The model is similar to an airport which has essential non-revenue generating infrastructure such as runways, taxiways and control towers.
These assets are considered capital-intensive sunk costs necessary to keep the airport operational.
The airport then charges airlines generating revenue through landing fees, passenger charges and gate rentals.
Note 2:
As a cool side note, they are hiring a Project Manager with Infrastructure & Capital Works experience.
They are meant to lead the delivery of infrastructure programs and projects, ensuring scope, schedule, cost, and safety outcomes are achieved.
It’s a cool way to work on space infrastructure if you’re from the industry!
Out of Stealth
Torus, a San Francisco startup, emerged from stealth. They are building AI agents which understand engineering documents such as P&IDs, heat and mass balances, and spec sheets and flag inconsistencies in real time, partnering with EPCs and project owners. View website here.
Policy and Regulatory Changes
US
The U.S. Department of Energy (DOE) released a new analysis on the nationwide adoption of the 2024 International Energy Conservation Code (IECC).
It would increase residential construction costs by more than $9.2 billion annually compared to the 2006 code levels.
This would add more than $127 billion in cumulative costs nationwide.
Notes:
The DOE wrote a letter to the ICC urging the organization to refocus its code-development processes on affordability, transparency, and fuel-neutral energy efficiency.
It also encouraged the ICC to omit requirements for onsite energy generation, electric vehicle infrastructure, and greenhouse gas avoidance.
The press relates states:
“These costly mandates force American families to pay thousands of dollars more upfront for a new home, while projected energy savings may take decades to materialize.”
My notes:
This is an interesting signal on where the Trump Administration’s focus areas are in relation to home building.
It also provides an indication on how they view new energy code updates moving forward.
The Anti-Data-Center Movement Is Reshaping Michigan Politics
Will Lawrence is one of the founders of the Sunrise Movement, a grassroots climate activism group.
Now, he’s running for Congress in a Michigan swing district, calling for a moratorium on data center development.
Notes:
A Data for Progress poll of likely Democratic primary voters in the district shows that more than 40% of respondents were “much more likely” to vote for a candidate who opposed data centers.
The message resonated even more with respondents under 45: Almost 80 percent of younger voters said they’d be much more likely or more likely to support an anti-data-center candidate.
Mayor Mamdani Signs Executive Order Protecting Workers from Extreme Heat
The Executive Order directs development of new safeguards for the 1.4 million New Yorkers who work outdoors.
It directs the Department of Health and Mental Hygiene (DOHMH), NYCEM and the Department of Citywide Administrative Services (DCAS) to develop multilingual heat safety guidance for outdoor workers.
The Department of Buildings (DOB) will review and strengthen construction site heat safety requirements, with recommendations due by March 1, 2027.
FERC Was Already Losing Its Independence. Now It’s Gone.
The Supreme Court effectively OK-ed the firing of commissioners at independent agencies with no showing of cause.
This overturns a 90-plus-year-old precedent and grants the president seemingly vast powers to reshape the federal regulatory state.
That likely includes agencies crucial to energy planning and governance, including the Federal Energy Regulatory Commission and the Nuclear Regulatory Commission.
Agencies like FERC tend not to be as explicitly politicized or partisan partly because FERC justifies decisions on electricity and natural gas policy with reference to “technical expertise.”
Notes:
This provides the Administration with more power to direct agencies in relation to energy policy and permitting.
Energy infrastructure security bills clear the House
The House approved several bipartisan bills to address energy infrastructure physical threats and cybersecurity concerns.
It included establishing a Senate-confirmed position at the Department of Energy focused on threats to infrastructure.
Judge permanently bars DOT from blocking Hudson Tunnel funds
A federal judge permanently blocked the U.S. DOT from withholding funds for the $16 billion Hudson Tunnel Project over its disadvantaged business enterprise program.
Construction briefly halted earlier this year after the DOT stopped reimbursements before ultimately picking back up again under a temporary court order.
SC counties enacting data center moratoriums
Absent statewide rules, South Carolina counties are hitting pause on the development of data centers to give them time to set their own standards.
Spartanburg took a unanimous vote on a one-year moratorium on future data center development.
Greenwood County started the process for its own 12-month pause.
Chesterfield and Newberry counties enacted ordinances early this month.
Newberry County Council took its moratorium up after voting down a proposal that would have sold property in a county-owned industrial park to a data center developer.
Colleton County council took its first vote last month on a six-month moratorium.
New Florida Law Bans Local Net-Zero Emissions Policies
HB 1217 prohibits local governments from pursuing net-zero emissions goals.
At least 10 cities and counties have implemented such policies.
The measure requires local governments to submit an affidavit annually to the state Department of Revenue verifying compliance.
Appeals court upholds New York gas appliance bans
A federal appeals court upheld a New York law banning natural gas appliances in new buildings.
The ruling is a win for the state and is heating up a disagreement between courts over whether federal energy conservation law preempts state-level laws and city ordinances.
The conflict could spark interest from the Supreme Court.
NYC prepares electric air taxi vertiports
The New York City Economic Development Corporation is preparing two existing heliports in Manhattan for air taxi operations.
Archer Aviation and Joby Aviation intend to begin operations this year under the FAA’s eVTOL Integration Pilot Program.
The program selected eight locations in six states, including New York and New Jersey.
The NYCEDC requires operators of two city-owned heliports to “complete the build-out of electrification infrastructure requirements.”
This is to occur within one year of Federal Aviation Administration certification that will enable commercial air taxi operations.
A full build-out would include:
Assessing what each facility can accommodate in terms of charging infrastructure.
Bringing in the necessary electrical power.
Providing two different charging systems for operators to use.
Notes:
Vertiports are specialized areas for vertical takeoff and landing aircraft.
Why is it so unusually expensive to replace lead pipes in Chicago?
There is a federal mandate to remove every lead pipe within roughly 20 years.
Chicago has more than 400,000 lead water service lines.
Officials say replacing each one costs about $31,000 on average which is more than six times the Environmental Protection Agency’s national estimate of $4,700 a line.
Nation’s two oldest nuclear plants, both in Upstate NY, apply for 20-year license extensions
Constellation Energy Corp has filed applications to extend the operating licenses of the Nine Mile Point Unit 1 and R.E. Ginna reactors until 2049.
If the U.S. Nuclear Regulatory Commission approves the license extensions, the plants would join roughly two dozen other U.S. reactors that have extended operating licenses to 80 years.
Energy officials host talks focused on bolstering nuclear power in NH
State officials and representatives from the energy sector gathered in Portsmouth to get started on a “roadmap” to generate more nuclear power in New Hampshire.
The conference is one of the first public steps energy officials have taken following an executive order issued by the Governor.
This directed the Department of Energy to explore emerging nuclear power technologies.
China
China moves to supercharge green hydrogen as US pulls back
Until now, China has encouraged provincial governments and state-owned companies to develop hydrogen technology.
This was by providing lower electricity prices and loans and by setting production quotas.
The National Development and Reform Commission has now released rules outlining which types of industrial projects qualify for national grants.
It includes green methanol, carbon capture, sustainable aviation fuel, and zero-carbon industry parks.
This means the government is effectively establishing its first national funding mechanism for hydrogen-adjacent technologies.
Notes:
China is already the world’s largest hydrogen market.
At about 33 million metric tons of demand per year, the industry is roughly three times the size of the American market.
Related:
Europe
EU opens consultation to tackle fragmented housing rules amid affordability crisis
The European Commission has opened a consultation seeking evidence on how to simplify rules that affect housing supply and affordability across the EU.
The evidence will feed into a planned “Housing Simplification Package” which is planned for 2027 under the European Affordable Housing Plan.
It will examine how EU legislation influences housing supply and affordability.
It declared that simplification is a core part of its work, and that it has already proposed more than 12 large-scale simplification packages.
This is put at around €18 billion in administrative cost savings each year.
India
Construction sites fall silent as workers across Calcutta leave over work suspension
The state government has imposed a temporary freeze on the construction of residential buildings, G+5 (six storeys) and above and all commercial buildings till July 31.
Safety audits will be conducted during this period.
This is following the collapse of an under-construction warehouse that killed 16 people.
The ban would be lifted on a case-by-case basis after safety audits.
Draft green building code pushes EV readiness, renewable mandates
Rajasthan state’s proposed Energy Conservation and Sustainable Building Code (RECSBC) covered commercial construction as part of its sustainability initiatives.
It has dedicated provisions on sustainable sites and planning, water and waste management, and indoor environmental quality.
It mandates electric vehicle infrastructure, requiring at least 20% of parking spaces in eligible buildings to be EV-ready.
Additionally, developers must ensure installation of renewable energy systems with a minimum capacity equivalent to 4% of the contracted demand.
The Haryana Government has decided to defer amendments to the Haryana Building Code, 2017.
They will come into force after the required digital infrastructure, regulatory framework and administrative mechanisms are fully operational.
Until then, all building approvals and Occupancy Certificates across the state will continue to be governed by the existing provisions of the Haryana Building Code.
Vietnam
Vietnam eases building permits under new Construction Law
Vietnam’s revised Construction Law takes effect on July 1, exempting more projects from building permits and reducing approval times to a maximum of seven days.
The Ministry of Construction has issued eight circulars and a decision announcing standard construction contract templates.
Another major change under the revised Construction Law is the abolition of the requirement for construction companies to obtain construction competency certificates.
The law also removes professional practice certificate requirements for individuals in a number of construction-related fields.
A National Information System and Database for Construction Activities will be established to provide each construction project with a unique digital identity.
Kazakhstan
Kazakhstan Construction Code Goes into Effect
The Code designates the creation of a national institute for technical standardization in construction.
The state urban planning cadaster will now be maintained through a digital system, which will serve as one of the key tools for architectural and construction control and supervision.
The system will be used for, among other things:
Ongoing monitoring of compliance with qualification, permitting, and other regulatory requirements.
Registration of survey and design documentation (without design estimates).
Recordkeeping of taking-over (commissioning) certificates.
National Infrastructure Projects & Priorities
US
Stalled US permits threaten $121 billion in wind and solar investment-report
A total of 92 gigawatts of clean energy projects, about enough to power 69 million homes, face heightened federal scrutiny.
This includes changes such as a Department of the Interior directive that renewable energy permits at every stage required the approval of senior officials.
Those measures have lengthened timelines for projects involving federal agencies, including many on private land that still require permits for wetlands, wildlife or access roads.
America needs a new generation of electricity
The Utah Governor rallied leaders from 10 states at the annual Western Governors Association conference in Park City, Utah, to coordinate a once-in-a-generation expansion of the power grid.
The Governors backed a $60 billion plan to overhaul the electricity grid in western states.
This is to add or upgrade 12,600 miles of high-voltage transmission lines in the next decade.
Trade Schools Report (2026 Mid-Year Outlook)
$19.1B in 2025 trade school revenue, up 11.4% YoY, nearly double the original forecast.
Skilled trade job postings doubled to 600K from 2016 to 2025, with time-to-hire stretching to 56 days.
Hiring an HVAC technician or electrician now takes longer than hiring a software developer.
Within specific titles, welder postings are up 70.5%, plumbers 54.1%, electricians 50.8%, and HVAC technicians 50.3% in just the six months from December 2025 to May 2026.
Note:
This report includes a range of skilled professions (not just construction related roles).
South Korea
Samsung, SK to Spend $880 Billion to Drive Korea’s AI Lead
South Korea is orchestrating investments of at least 1,350 trillion won ($880 billion) from companies including Samsung Electronics Co. and SK Hynix Inc. into chips and data centers.
Samsung Group and SK Group said they plan to build two chipmaking plants apiece in the southwest for a total of 800 trillion won.
Companies including Naver Corp also announced 550 trillion won of investment to build 8.4 gigawatts of AI data-center capacity by 2029.
The country aims to double its memory production capacity within five years and secure world-class manufacturing capabilities
The government talked about supporting the endeavor with infrastructure including water and power projects.
Nordics
Ardian Plans to Invest Over €3 Billion in Nordic Data Centers
This comes as lower energy prices and ample available land draw more digital infrastructure providers to the region.
A lower climate also helps to naturally cool the facilities.
Data center power demand in the Nordics could rise fourfold by 2032.
Bangladesh
Bangladesh urges China to reduce trade gap, speed infrastructure delivery
China’s foreign ministry said in a statement that it was willing to support Bangladesh advance the development of the China-Myanmar-Bangladesh Economic Corridor.
This is aimed at connecting China’s Yunnan province to the two countries and exploring cooperation in artificial intelligence, green and low-carbon development, healthcare and education, among other areas.
News
Innovation at Scale: France’s Big Three Contractors (The French Build)
The Data-Center Boom Is Sparking a Third Wave of Inflation
AI Demand Begins to Justify Massive Cost of Data-Center Buildout
Global AI sales, excluding China, reached $25 billion in the first quarter of 2026.
This exceeds the industry’s estimated $21 billion in depreciation costs tied to investments in data centers and chips for the second consecutive quarter.
Home Builders Are Getting Buried in Claims of Shoddy Construction
Water joins energy as top AI flashpoint
Roughly 70% of people in the U.S. said they would oppose data centers in their communities, with equal weight placed on water and energy use as top concerns.
The federal government’s big fat real estate problem
US Subways Build Too Many Cross Passages
When AI Puts Gen Z in the C-Suite
If I missed anything this week, please reply and let me know! I’ll make sure to include it next week.