Ten years back, construction technology was barely considered to be an industry. Back at the time, venture capital investments ranged around only 4.5 million dollars in construction tech. A decade later and VC investors are investing over 538 million dollars across 40 construction tech deals. In 2017, VC showed an immense interest in construction tech, capitalizing on the potential of this branch. What are some top VC investors interested in global construction tech in 2020?
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Over 900 Million Invested in Construction Tech by VC in 2020
During the course of a decade, VC investors showed increased interest in construction tech. Only three months into 2020 and VC investors have already poured in over 900 million dollars in construction tech as a result. One of the biggest VC investors contributing to that portion is SoftBank for instance. SoftBank invested over 800 million dollars in Katerra. Katerra manufactures buildings with the use of technology and software. During 2019, there were around 16 projects in construction tech. Only a year later, that number increased to counting over 40 new projects in construction tech. Altogether, construction tech is on its decade-high with 2020 investments by VC.
The Demand is Growing for Construction Tech
The industry of construction technology is comprised of firms that deal with hardware and software in relation to building, construction, and infrastructure. Services provided by construction tech firms vary in forms. Some of these firms are operating with project management software. Other firms in construction tech are working on on-site surveillance with VR tools and drones. All of these firms have something in common – a successful combination of technology and construction. Aside from SoftBank, more VC investors have invested a great portion of funds into this industry as well. Kleiner Perkins Caufield & Byers, Lightspeed Venture Partners, True Ventures, Funders Club, Brick & Mortar Ventures and Almi Invest are only some of the biggest VC investors interested in construction tech.
Photo by Saad Salim on Unsplash
