B2B SaaS

Q2 202422.04.2024

Construction Tech

Picture of Éanna Kelly

Éanna Kelly

at Sifted

Steady inroads have been made in construction tech so far this year; such is the course of transforming a €1.7tn industry in Europe. The hottest deal to date, according to Sifted, has to be Dutch bricklaying robot startup Monumental’s $25m February round — a reminder that robots really are coming to take strenuous, repetitive jobs off our hands.

Elsewhere, there’s waste and inefficiency on today's construction sites that software, data and devices are well-suited to eliminate. AI and machine learning approaches are scouring pictures of facades to identify defects; examining public tenders to see which are the most realistic; and probing project plans to identify risks. Running behind schedule means losing money, so it’s not hard to imagine how generative AI tools will also aid builders in the near future, by helping them crunch through a list of client to-dos, for example.

New laws are creating opportunities. For example, the UK’s Building Safety Act mandates a digital ledger of all data for new residential buildings, and Sweden’s ID06 requires digital records of all the workers on a site. Retrofitting draughty old buildings is another vast undertaking promising riches for some companies. This “renovation wave” promises improved insulation, modern windows and heat pumps to replace gas boilers.

Some tech won’t nail delivery so long as the ability to invest in bleeding-edge tech is limited to a narrow slice of elite contractors. Lots of the cool tech we read about remains on the fringes of the industry — so hold on to your hardhats, because it will take a while for the cost-benefit analysis to make sense for certain innovations.

20 startups to watch

Sifted score
9.11
-
Disperse
Strong investor(s)
Serial founder(s)
Hiring
- Year founded
  2015
- HQ
  London, United Kingdom
- Latest round
  Early VC
  €14.6m / Sep 2022
- Total funding
  €29.6m
View company profile
Sifted score
8.85
-
011h
Strong investor(s)
Serial founder(s)
Hiring
- Year founded
  2020
- HQ
  Barcelona, Spain
- Latest round
  Series A
  €25m / Jul 2022
- Total funding
  €33m
View company profile
Sifted score
8.58
-
XYZ Reality
3D modeling for accurate construction.
Strong investor(s)
Hiring
- Year founded
  2017
- HQ
  London, United Kingdom
- Latest round
  Series A
  €24.6m / Jun 2021
- Total funding
  €43m
View company profile
Sifted score
6.87
-
YardLink
Strong investor(s)
Serial founder(s)
- Year founded
  2018
- HQ
  London, United Kingdom
- Latest round
  Series A
  €15.9m / Oct 2022
- Total funding
  €18.9m
View company profile
Sifted score
6.83
-
Materrup
Strong investor(s)
- Year founded
  2018
- HQ
  Saint-Geours-de-Maremne, France
- Latest round
  Grant
  €2.4m / Jun 2022
- Total funding
  €3.9m
View company profile

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