SiteAware (formerly Dronomy), a startup developing a verification platform for construction, today closed a $10 million funding round co-led by Axon Ventures and Robert Bosch Venture Capital GmbH.
The company says the funding will be used to accelerate its expansion in the U.S. market as construction resumes post-pandemic-related delays.Housing construction is gaining steam as developers sprint to meet demand. According to the U.S. Commerce Department, housing starts occurred at a 1.19 million seasonally adjusted annual rate in June, representing a 17% increase from May.
While that’s down 4% year-over-year, construction activity for both single-family properties and multifamily buildings saw double-digit rises.SiteAware employs AI to enable corrective action during construction to eliminate rework and provide a record of work performed.
Customers get real-time actionable insights verifying layout, workmanship, and omissions of things like concrete forms and steel and curtainwall embeds. In addition, they receive a detailed breakdown of masonry installation and detailing, waterproofing and sealants, siding elements, and finishes and exterior elements verified in real time by SiteAware’s “digital twin” technology.READ MORE