Today, new technologies in construction are being developed at a breakneck pace. What seemed like future tech 10, 20 years ago like connected equipment and tools, telematics, mobile apps, autonomous heavy equipment, drones, robots, augmented and virtual reality, and 3D printed buildings are here and being deployed and used on jobsites across the world.
And, while construction firms continue to underinvest in technology, venture capitalists are betting big on the future of construction tech. A report from James Long LaSalle, Inc. released earlier this year shows that venture capital firms invested $1.05 billion in global contech startups during the first half of 2018. That’s a nearly 30% increase over the amount invested for all of 2017. Since 2009, investors have closed 478 funding deals totaling $4.34 billion.
