Construction and matters relating to physical property and infrastructure are often expensive and time-consuming endeavors, but they are activities that appear to be going through a period of rapid advancement, both in terms of techniques and materials. Now, Israeli companies are helping to take the sector to new levels of sophistication.
According to the database Start-Up Nation Central, there are more than 150 Israeli companies involved in construction and related technologies which cover many aspects of the industry. Innovative companies that provide products such as functional glass coatings (Gauzy), sophisticated composite material products (Neo Composites), and smart locking systems (Smart Door Systems) are now well established, but newer firms are entering the market with disruptive and valuable tools.
It was recently reported that the company Siteaware (https://siteaware.com) closed a $10 million Series A financing round for its Digital Construction Verification (DCV) solution. Using Artificial Intelligence, autonomous drones, and smart devices, the system continuously captures the project’s status. It then analyzes the data to identify any anomalies and inconsistencies in the project in real-time. In this way, developers are alerted to errors much earlier than would usually be the case, which allows them to employ corrective measures and avoid costs associated with fixes and time delays on projects.
Reflecting the apparent demand for such technologies in the sector, another Israeli startup is doing something similar, but by leveraging existing construction staff on-site and combining it with Artificial Intelligence.
Buildots (https://buildots.com), founded in 2018 by three graduates of the IDF’s Talpiot Unit, designed a system that puts cameras on managers’ hardhats to capture images of every detail of an ongoing project during regular site inspections. Using image process technology and AI, the system continually compares images and data with the building plans and timetables. Any errors or deviations which could have a cost, time, or other impacts on the project are then flagged and can be addressed. Buildots has to date raised $16million in funding, including several hundred thousand dollars in a grant from the Israel Innovation Authority. With such endorsement from the private and government sectors, it is clear that these technologies are in demand.
In this era of Coronavirus, many offices and communal spaces have become less usable due to social distancing requirements, so building managers and owners need to find solutions and implement modifications to make them functional again and safer for their inhabitants. Israeli companies, once again, can help. Aura Air (www.airair.io) has developed a smart air management platform that cleanses and disinfects indoor air while vigilantly monitoring its quality in real-time, while Dolphin Vision (www.dolphinvision.net) has patented a system designed to keep public transportation, elevators, and buildings free from viruses and bacteria, including COVID-19. These companies are certain to grow fast and can help mitigate challenges for property owners and managers while enhancing public health.
Even when it comes to all-important safety in the sector, Israeli firms like SafetyFirst (https://margad.wixsite.com/safetyfirst) helps workers and managers prevent accidents and injuries. SafetyFirst uses a proprietary IOT technology and AI to allow real-time monitoring of any worker, activity, vehicle, or moving equipment in a specified area. It identifies potential risks and actively alerts to the hazard, allowing preventive action to be taken.
Observing these companies establish and develop is not a surprise, given that just a few years ago, in 2017, the world’s first construction tech hub was established in Israel to provide construction firms and real-estate developers worldwide with access to disruptive high-tech innovation. This Construction Innovation Zone is a unique collaboration between the Israel Builders Association, the Tel Aviv-based SOSA platform for global startup ecosystems, the Israeli Construction and Housing Ministry, and the Israeli Economy Ministry.
Efforts to promote this hugely valuable sector continue apace, and next month, TLV Contech & Proptech 2020 will take place on November 24 and 25. This virtual international conference & exhibition for applied innovation in construction & real estate industries will bring together disruptive start-ups, industry leaders, experts, and multinational corporations to collaborate and discuss cutting edge products and technologies for this changing industry. For further information, please contact your local Israeli Commercial Representative.