Buildots | October 04, 2022
Buildots, which uses artificial intelligence and computer vision to dramatically improve efficiency in the multi-trillion dollar construction industry, has been named "Construction Software of the Year" at the prestigious London Construction Awards.
By collecting data with hardhat-mounted 360° cameras and processing the data with AI, Buildots enables construction teams to make informed decisions based on accurate information, significantly improving resource efficiency, reducing costly errors and saving time. The technology is currently in use across the UK, Europe, the United States, the Middle East and Asia.
In declaring Buildots "Construction Software of the Year", the judges' panel, comprised of industry experts from leading construction firms and contractor associations, noted the "high standards Buildots have in regard to industry practices and technologies".
The award was announced as part of London Build, the UK's leading construction and design show.
Buildots has been named one of LinkedIn's Top 15 Israeli Startups for 2021 and 2022, and was previously deemed the "One to Watch Company" at the Construction Computing Awards. The company recently completed a $60 million Series C funding round, reaching $106 million in total funding.
"In continually striving to enable better building, we're honored to receive this recognition as we lead the way in using technology to finally bring greater efficiency and transparency to the global construction industry," says
-Roy Danon, CEO and co-founder Buildots.
Buildots is a Tel Aviv and London-based technology provider leveraging the power of AI and computer vision to modernize the construction industry. Buildots uses hardhat-mounted cameras to capture imaging of every detail of an ongoing project. The data is then analyzed using AI models to transform random visual data into highly accurate, actionable insights that are correlated with the project's designs and schedule. The platform is helping transform construction management, enhance resource efficiency, save management time, and avoid costly errors on construction projects worldwide.
Cadmatic | October 03, 2022
The acquisition is a further step in fulfilling Cadmatic’s strong growth strategy, which sees the company more than tripling its size in coming years.
EPC contractors and plant owner-operators use CLA’s software to manage piping materials and piping supports, construction sites, multidisciplinary engineering data, online tenders, project planning and plant welding. CLA was established in 2001 and employs 22 staff at its office in Piacenza, 70 km south of Milan.
“CLA is a perfect strategic fit for us. They have impressive references, especially in the key area of multinational EPC companies and our offerings have no overlapping functionalities. By integrating CLA’s materials and construction management products with Cadmatic’s design, engineering, and information management solutions, we can offer integrated and advanced functionality and a one-stop-shop to benefit our customers from design to construction and beyond. In addition to the products and customer base, we also gain access to the extensive material and construction management knowledge they have developed over the years, When we see a clear customer need, we either develop the functionalities, products and services ourselves or look at acquiring it outside the company”
-Jukka Rantala CEO Cadmatic.
CLA COO and deputy CEO Tagliaretti also sees the acquisition as a win-win situation.
“When you combine Cadmatic and CLA, you get something greater than the sum of its parts. Cadmatic has traditionally been strong in plant, marine and building design, CLA have general engineering data management applications. Together we form a comprehensive package. CLA have developed a very strong market position in Italy-based multinational industrial companies, but Cadmatic’s large global network means that the integrated solution can be more successful internationally, we make the perfect team.”
-Gian MarioTagliaretti,COO and deputy CEOCLA.
Cadmatic’s growth strategy envisages a strong position in the European and Indian process and power industries, in the global marine business, and in the locally growing building industry. CLA is the fourth significant technology-based acquisition for Cadmatic in recent years. According to Rantala, organic growth and a high level of in-house R&D and competence, as well as mergers and acquisitions will assist the company in creating top value for its existing and new customers.
Last year, our Process and Industry segment grew by over 30%. We are growing organically, but strategic mergers and acquisitions, such as with CLA, are also a cornerstone of our strategy. We are continuously looking for companies that are good strategic fits for our offering and customers.
Rantala says that the acquisition is strategy-driven and the result of Cadmatic listening to its customers, being good partners, and providing customers with the software functionality they request.
Cadmatic is a leading developer of digital and intelligent 3D design and information management software solutions for the power, process, marine, and construction industries. It empowers engineers to build a brighter future and a better world by making the design, engineering, construction and operation of ships, industrial plants and buildings better, faster and easier. Cadmatic has over 6000 customer organizations in 60 countries.
StructShare | September 30, 2022
Atlanta Electrical Contractors Association (AECA) today announced a partnership with StructShare, the leading provider of purchasing and material management software. StructShare will grant special offers to members of the innovative chapter of the National Electrical Contractor Association (NECA) in the Atlanta region, to enhance effectiveness and accelerate supply chain management and cost tracking.
"We seek partnerships with those contractor-focused vendors who we can rely on to offer the best to our members, Our members will benefit greatly from this relationship, We provide our members access to resources that will help them thrive in their business."
-Joey Shorter, Executive Director of the AECA.
Over the past few years, AECA members have used StructShare to streamline the entire purchasing cycle, connecting the office, the field, the warehouse, and their suppliers on a centralized, mobile, and cloud-based platform. StructShare makes an antiquated and cumbersome process much easier for the field and office by digitizing field requisitions, approval flows, POs, RFQs, deliveries, and invoice reconciliation while integrating all data into the common ERP and project management systems.
According to NECA research, processing a single PO costs electrical contractors $42. Taking into consideration the amount of POs generated, this adds up to an undebatable pain that must be solved. AECA member and StructShare customer, Cariboo Industrial Electric has immediately maximized efficiency by eliminating double entry and overhead as well as received inventory visibility, seamless cost tracking, and preventing errors across the entire workflow.
StructShare, a powerful purposely-built solution, offers end-to-end procurement, materials, inventory, and costs management. The flexible system is used by subcontractors of all sizes from $1-million in revenue to some of the largest in the country.
"After working with the AECA team and members for a long time, I am excited to officially establish the partnership and provide the members with a tailored solution to their needs."
-Or Lakritz Co-Founder and CPO, StructShare.
AECA has a reputation of providing members with outstanding benefits and services including safety classes, professional and leadership development, education and training, as well as networking events. StructShare contributes to these efforts with technology and procurement education.
We are honored to be a part of AECA, states StructShare CEO and co-founder, Arik Davidi. We've enjoyed the work with our Atlanta-area customers and look forward to bringing the same success to others in the region.
About Atlanta Electrical Contractors Association:
AECA is the leading, professional trade association representing, promoting, and advancing the electrical contracting industry in Georgia since 1929. AECA leads the industry in the practical application of new and emerging technologies in the construction industry and the public it serves.
StructShare is a construction software company based in Austin, Texas and Tel Aviv, Israel, building digital solutions for specialty contractors to maximize efficiency and reduce costs.