News Coverage

    Sony Innovation Fund invests in AI powered safety platform, Smartvid.io: Three major trends in focus

    Builtworlds, 12/15/2020

    News that AI-powered safety, quality, and productivity platform, Smartvid.io has just closed a $5 million round led by Sony Innovation Fund and AI Capital Group, adds further evidence to three trends we have been watching and discussing for the past few years at BuiltWorlds. These trends have profound implications for the next leg of technology development and commercialization within the construction industry, and they point, without question, to a period of much more profound transformation than the industry has experienced in the past decade. If the past decade was about moving to the cloud and mobile devices as we digitize workflows that pretty much mirror how the industry has historically approached business, the next wave of bigger investment in more sophisticated technology speaks to more fundamental and transformative changes to how the business is approached.

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    COVID-19 safety trends seen in video and image data

    ENR, 12/16/2020

    When the COVID-19 pandemic first spread across the U.S. earlier this year, construction sites saw a raft of new safety procedures to ensure essential work could continue without casually spreading the virus. Construction’s safety culture adapted to include mandatory face masks, social distancing and more glove wearing for workers on site.

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    Innovator of the Year: NEXT Coalition

    Construction Dive, 12/9/20

    Construction remained essential throughout most of the country at the outset of the coronavirus pandemic, which left contractors in need of ways to protect workers and keep jobsites clean and safe — not just from the usual dangerous work, but from infection. With a bevy of new state and local requirements and federal guidelines came an array of tech innovations promising to help contractors keep their workers healthy.

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    Smartvid.io raises $5 Million from Sony, IA Capital and more to reduce job site accidents

    Construction Best Practices, 12/9/20

    Although the spread of coronavirus is at the top of everyone’s mind, reducing the number of job site accidents still remains a high priority. AI-powered construction safety platform Smartvid.io proved this recently when it announced that it had earned a $5 million round of new funding from Sony Innovation Fund (SIF) and IA Capital Group.

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    Smartvid.io receives $5M in funding

    Construction Dive, 12/9/20

    Investors for Smartvid.io’s newest round of funding included Sony Innovation Fund and IA Capital Group, joined by prior investors Building Ventures, Companyon Ventures and Converge, among others.

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    Smartvid.io raises $5M from Sony Innovation Fund, IA Capital and others to sharply reduce accidents on architecture, engineering & construction jobsites

    Cision PR Newswire, 12/9/20

    CAMBRIDGE, Mass., Dec. 9, 2020 /PRNewswire/ -- Smartvid.io, an AI-powered construction safety platform, today announced a $5 million round of new funding from Sony Innovation Fund (SIF) and IA Capital Group. Joining the round were prior investors, Building Ventures, Companyon Ventures and Converge, among others. This new round brings the total amount of funding that Smartvid.io has raised to $21 million.

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    Meeting COVID-19's NEXT Challenge

    Constructech, 11/12/2020

    In June, we noted the NEXT Coalition’s Construction Safety Challenge and explained how an industry group focused on infrastructure and construction was challenging the industry to come up with new and innovative ideas for meeting the COVID-19’s impact on jobsites across the country. The original companies forming the NEXT Coalition were Black & Veatch, DPR Construction, Haskell, and McCarthy Building Companies. They were soon joined by Swinerton and Truebeck Construction.

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    3Q Tech Report: New Ideas for a Strange Era

    ENR, 9/30/2020

    At the start of 2020, construction technology was a hot market. Venture capital was pouring in as tech investors saw potential for growth. Industry firms that had already made investments in technology were seeing real gains from their efforts. When the COVID-19 pandemic rattled the construction industry this spring, technology providers dropped what they were doing to refocus on practical solutions to keep projects going in a frenetic triage. Now that the initial pandemic shock has passed and a new, unusual rhythm for construction has settled in, what happened to the momentum for broader technology adoption?

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    NEXT Coalition chooses first pilot efforts in ‘Construction Safety Challenge’

    Business Wire, 9/29/2020

    Three months since banding together to promote and share work-site safety best practices, the NEXT Coalition -- an industry collaboration among leading critical infrastructure and construction companies – has chosen five pilot projects meant to protect crews against challenges posed by COVID-19.

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    How Data is Helping Contractors Survive the Coronavirus

    ENR, 8/26/2020

    Construction companies are facing exceptional levels of uncertainty. With the novel coronavirus still spreading, varying levels of economic restrictions in place, and with national elections weeks away, contractors are desperate for signs of how demand for projects will vary by region and type of structure. Equally important are the prospects for supply-chain disruptions, materials prices, and availability of employees, subcontractors and government workers needed to approve projects.

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