Investing millions in automation
Spanish company Scaled Robotics has proved themselves in test projects. AF and OBOS are now investing in the company through Construct Venture.
The robot was introduced into AF’s projects in 2018 and the software has undergone thorough functionality testing. The results and potential of the product have been so promising that AF and OBOS, through the investment company Construct Venture, are now investing NOK 20 million in Scaled Robotics together with Surplus Invest, a dedicated PropTech fund from Germany. In addition, the German company PERI, the world’s largest manufacturer of formwork and scaffolding systems, is also an owner of the company.
“Scaled Robotics scans a building project’s construction work at all times and records whether construction takes place according to the design (BIM model). In addition, it allows errors to be corrected immediately. Construction process discrepancies are a global challenge that cost the industry huge amounts of money”, explains Jan Fossgård, Managing Director of Construct Venture.
Avoiding additional work
By using scanning and image recognition technology to create an overview, Scaled Robotics’ software can identify construction errors and deficiencies and then alert people about them. The progress and quality of what is being constructed in the project can also be measured and reported back. Currently, these are all functions that are performed manually by people.
“This increases the efficiency of collecting and assembling data, and freeing up time that would potentially have been spent on additional work caused by errors that needed to be corrected or redone”, says Fossgård.
This is Construct Ventures’ fourth investment so far, and the first that involves a foreign company.
“Scaled Robotics has developed a product we believe can help increase the quality and efficiency of construction projects. This is a reliable actor with a very competent team and we strongly believe they will continue to steer the development in the right direction. Based on interest from Europe, Construct Venture believes this is a solution that provides good commercial opportunities”, he says.
Won a Startup competition
There are others who believe that this is the future of quality-assuring construction projects. During the Startup Battlefield competition that took place at the Berlin Disrupt conference in December, Scaled Robotics beat 14 other international Startups and received NOK 500,000 in fresh capital.
“Currently, project managers have no quick and easy way to compare building models with what is actually being built, and this can lead to both risks and uncertainty in the construction process”, says Stuart Maggs, CEO and co-founder of Scaled Robotics.
“The tools now being developed by Scaled Robotics can verify every single element that is installed, while at the same time providing a detailed analysis of the construction process. We are very pleased that Surplus Invest and Construct Venture are part of the team, both of which are investors that share our vision of changing the industry through a combination of robotics and artificial intelligence”, says Maggs.
About Scaled Robotics:
Scaled Robotics is a Spanish company that was established in July 2017. The company develops software that processes, interprets and assembles collected data (scanning) of buildings that are under construction. This software provides a valuable overview of discrepancies (quality control) and progress in relation to the BIM model by employing AI and machine learning.
About Construct Venture:
By investing in startup companies through Construct Venture, both AF Gruppen and OBOS are helping to create a smarter and more future-oriented supply industry within the field of building and construction that also ensures the industry’s competitiveness. The collaboration is industry-based and founded on smart capital, where AF and OBOS contribute with industry expertise, processes, efficient systems, as well as financial strength. The companies make their projects available for the testing and development of technological concepts on a large scale.
About Surplus Invest:
Surplus Invest is a Munich-based early stage venture capital firm with a focus on PropTech and ConTech investments in Europe. We partner with outstanding tech-entrepreneurs and teams who strive to fundamentally change the real estate industry. We share our expertise, we support in tackling challenging roadblocks and we leverage our real estate network to enable our portfolio companies to scale their business successfully.
With a turnover of EUR 1,560 million in 2018, PERI is one of the world's largest manufacturers and suppliers of formwork and scaffolding systems. Through its 9,500 employees, 70 subsidiaries and far more than 160 efficiently run storage sites, PERI serves its customers worldwide with innovative system equipment and a comprehensive range of services related to formwork and scaffolding technology.
Director of communications+47 930 02 email@example.com
About AF Gruppen ASA
AF Gruppen is a leading contracting and industrial group that was formed by an entrepreneurial spirit and execution capabilities. The group has 5,700 employees and revenue reached NOK 18.8 billion in 2018. AF Gruppen is listed on Oslo Stock Exchange (AFG).
We provide a broad range of services with seven operational business areas: Civil Engineering, Building, Betonmast, Property, Energy and Environment, Sweden and Offshore.
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