hyperTunnel | June 14, 2022
hyperTunnel, the British underground construction innovator, has received a financial investment from VINCI, a global leader in concessions, energy and construction businesses. The funds will be used for business expansion and to further develop and test hyperTunnel's revolutionary construction method in practical situations.
The deal further strengthens hyperTunnel's connections with VINCI Construction technical departments. hyperTunnel recently joined VINCI's innovation platform Leonard as a member of its start-up accelerator programme, Catalyst. hyperTunnel also won the prestigious annual Construction Start-up Competition in Miami last year, which Leonard co-organises with other sector heavyweights such as Ferrovial and Cemex Ventures.
"hyperTunnel's technology can be truly game-changing when it comes to improving the safety and sustainability of underground construction projects," said Guillaume Bazouin, Head of Start-up and Intrapreneurs programs at Leonard. "It strongly aligns with our goals of rapidly responding to the climate emergency by enabling technological advances that have a substantial environmental impact. hyperTunnel also boasts exceptional leadership and engineering teams, and we are looking to support their great success in the near future."
VINCI and Leonard are real experts when it comes to construction innovation, so to get their backing in such a concrete and substantial way means we must be doing something right. They can see the huge potential of the technologies we're developing, and they share our passion for improving how the world works. We're excited to see what we can achieve together over the coming months."
Jeremy Hammond,hyperTunnel co-founder
Aquaa Partners acted as exclusive financial adviser to hyperTunnel on the transaction.
Last week, the European Innovation Council (EIC), Europe's flagship innovation programme to identify, develop and scale up breakthrough technologies and game-changing innovations, selected hyperTunnel to receive funding of 1.88 million Euros under its EIC Accelerator scheme. The funding will be used to complete the development of hyperTunnel's advanced swarm robotics underground construction platform.
hyperTunnel is a deep tech scale-up developing a revolutionary methodology for tunnels and underground schemes substantially faster, safer, more economically and more environmentally friendly than current techniques. hyperTunnel uses a unique combination of proven technologies from diverse industries – digital twins, robotics, 3D-printing and digital underground surveying, supported by AI and VR – to redefine possibilities in tunnel construction, enlargement, monitoring and repair.
Founded in 2018, hyperTunnel employs 40 people located at its Basingstoke headquarters, and outdoor learning environment (the hOLE) and Geolab in the North Hampshire Downs.
In 2021, hyperTunnel announced a contract with Network Rail. hyperTunnel has received a string of awards and funding of 1.88 m Euros from the European Innovation Council (EIC)'s EIC Accelerator scheme. hyperTunnel was recently picked by the government's Innovate UK agency to join its Global Business Innovation Programme. It won Startup of the Year at this year's Construction Technology Awards; was highlighted as a Top 50 Contech Startup and among 10 winners of the global Construction Startup Competition.
KAPPA | January 07, 2022
Kappa Engineering SA (KAPPA), a reservoir and production engineering software company, announces the acquisition of Reveal Energy Services (Reveal), a leader in integrated diagnostics and completion evaluation.
"We appreciate the KAPPA team's confidence in our company, and we're excited about joining them to further the industry's completion and reservoir engineering domain knowledge. By developing more powerful data analysis solutions with our combined expertise, operators can achieve even greater asset value,We're grateful for the industry's acceptance of our services and software during the past six years."
-Sudhendu Kashikar, CEO of Reveal Energy Services.
With the help of Reveal's team, the integration of ORCHID® in the KAPPA software portfolio will add completion information and diagnostics to our current handling of production data. It will be particularly useful in the context of unconventional plays," said Olivier Houzé, KAPPA's Managing Director. "Reveal's elastic models to characterize fractures will also complement KAPPA's diffusion models for the interpretation of pressure and production data. This will result in more efficient workflows by integrating completion diagnostic, reservoir and production data on a single platform, a decades-long challenge for the industry. This development axis complements and will ultimately converge with our global move towards Automation.
About Reveal Energy Services
Based in Houston (USA) and founded in 2016 with IMAGE Frac® pressure-based fracture maps, Reveal Energy Services has quantified the fracture geometry of more than 30,000 hydraulic fracturing stages in the US and Canada. In 2018, IMAGE Frac won the Hart Energy Special Meritorious Awards for Engineering Innovation in the nonfracturing completions category. Two years later, the ORCHID® completions evaluation platform won the 2020 World Oil® Awards Best Data Management & Application Solution Award. The physics-based services and software increase operational efficiency without risk in near real time.
Based in Sophia Antipolis (France) and founded in 1987, KAPPA is the industry leader in several reservoir and production engineering disciplines focused on the analysis of dynamic data: Pressure Transient Analysis, Rate Transient Analysis, Production Logging, Formation Testing, etc. Its integrated platform KAPPA-Workstation® federates all these disciplines, complemented by a client-server solution soon to migrate towards a microservices based automation platform. KAPPA has 120 employees split over 15 countries. KAPPA also provides training and consulting services in the disciplines of its software portfolio.
Mighty Buildings | April 18, 2022
Mighty Buildings, a technology company that is revolutionizing the construction industry through 3D printing, using advanced materials and robotic automation to create beautiful, sustainable, and high-quality homes, today announces three senior leadership appointments, as the company builds the foundation for its next phase of growth.
Russ Atassi joins Mighty Buildings as Chief Operating Officer (COO), bringing more than 20 years of experience in supply chain, R&D and manufacturing operations through his previous roles at Airbnb, Facebook Oculus, Apple, Google, General Motors, and Ford. Throughout his professional career, Russ has developed and scaled global supply chain and hardware manufacturing operations for some of the leading tech companies in Silicon Valley. He holds a BSE (Industrial and Systems Engineering) from the University of Michigan Dearborn, a MSE (Industrial & Operations Engineering) from University of Michigan Ann Arbor, and a MS (System Design & Management) from Massachusetts Institute Of Technology (MIT).
Rene Griemens has been appointed as Chief Financial Officer (CFO), and joins the company from Volocopter, the world’s first sustainable air mobility business where, as CFO, he led fundraising efforts totalling more than $340 million in equity and $1 billion in debt. His 30 years of global experience in high-growth technology, investment banking, and strategy consulting include his CFO role at German fintech Kreditech Group, as well as other executive roles at IEG, dooyoo.com, and McKinsey. Rene holds an MA in Economics from the University of Cologne and an MBA from INSEAD.
Mark Aldrich has been appointed as General Counsel, bringing decades of legal expertise in regulatory compliance, product development, and go-to-market strategies. Prior to joining Mighty Buildings, Mark led the legal team supporting new product research and development at Airbnb. Before that, he served in long-term secondment roles as Senior Product and Privacy Counsel for Google, VMWare, Autodesk, NVIDIA, and Intel. Prior to moving in-house, Mark was in private practice, working as outside General Counsel to start up and emerging growth technology companies around the world. Mark earned a JD from the University of San Diego School of Law and a BS in Finance, Real Estate, and Law from California State Polytechnic University-Pomona.
“I’m thrilled to have Russ, Rene and Mark join Mighty Buildings at this inflection point in our development as we expand our strategy to support our next stage of growth. The enormous experience and expertise that they bring will accelerate the roll-out of our platform to enable developers to rapidly scale housing deployments and make sustainable living a reality for more customers. The opportunity and demand are massive, and today we have the team in place to not only tap into that demand, but to do so with minimal carbon footprint and enviable speed of execution.”
Mighty Buildings CEO Slava Solonytsin
The company now employs more than 170 team members across the globe in its mission to pioneer new sustainable methods to build better quality and more resilient homes.
About Mighty Buildings
Mighty Buildings is a construction technology company that is dedicated to reimagining the building industry. By applying automation, 3D printing, advanced material science, and other innovative technologies to offsite prefabrication, Mighty Buildings can build houses with fewer labor hours, less residual waste, and reduced environmental impact than conventional construction. Mighty Buildings works with compliance and regulatory agencies to develop future-forward materials that are tested to the most rigorous standards with nearly zero-waste production methods. Having initially proven its business model with ADUs, Mighty Buildings has now shifted to a partnership approach, collaborating with developers to build large quantities of single-family homes, in various configurations, based on its unique panelized Mighty Kit System. Mighty Buildings is committed to making beautiful, sustainable, and high-quality homes a reality for more people.
RedTeam | March 16, 2022
RedTeam, a leading construction management platform provider for mid-size to enterprise-level firms, announces the acquisition of cloud-based construction management solution Paskr. The acquisition enhances RedTeam's continuing mission to deliver a comprehensive suite of premier technology solutions for commercial construction contractors of all sizes.
"Both RedTeam and Paskr are driven by a commitment to providing solutions based on the real-life experiences of contractors and their teams, Paskr is designed specifically to help small to mid-size companies increase efficiency and productivity, so it's a powerful complement to RedTeam's existing platform. Incorporating Paskr into our growing inventory reflects RedTeam's strategy to offer one of the industry's leading suites of integrated software solutions."
Jim Atkinson, CEO of RedTeam
RedTeam's complete cloud-based solution enables commercial construction teams to collaborate effectively throughout all stages of a project, from business development and pre-construction to closeout. Paskr's construction management solution offers small to mid-size contractors an accessible platform with built-in, repeatable processes to reduce risk,increase oversight, and deliver more predictable project outcomes.
The Paskr agreement follows RedTeam's 2020 acquisition of Fieldlens, a mobile plan markup tool for contractors that provides visibility and communication throughout the entire project chain. The full RedTeam catalog of applications now includes products ranging from field-management software to enterprise-level workflow and management solutions.
RedTeam's trusted investment partners Braemont Capital and JettyCove supported the Paskr acquisition with a recapitalization that bolsters RedTeam's growth strategy and boosts continuing innovation among the company's products.
"RedTeam's investment in Paskr enhances each company's strength and allows us to deliver powerful results and value to our customers," said Pat Whelan, founder and CEO of Paskr. "RedTeam and Paskr share the same mission, to help commercial contractors solve real-life challenges. Combing resources presents an outstanding opportunity for us to elevate productivity and efficiency as we work together to meet the needs of our customers."
RedTeam was recently included in the Inc. 5000 list of fastest growing companies in the United States, with 160% growth over three years. More than a thousand general contractors and several hundred thousand users have managed a collective $25 billion of commercial construction work with RedTeam. For more information, visit https://www.redteam.com.
About RedTeam Software
RedTeam Software offers the most comprehensive cloud-based solution for construction project and accounting management. With intuitive social design interface and real-time updates, RedTeam enables construction and accounting teams to collaborate effectively online at all stages of a project from business development and pre-construction to closeout.
Paskr is a cloud-based construction management solution built for every member of your construction team to bid, build, and track great projects. Paskr brings efficiency, visibility, and accountability by streamlining back office and field operations. Users are able to access all project related information through any web connected mobile device, tablet, laptop, or desktop.