ObraLink, a tech service that automates manual processes and tasks in the execution of construction projects, announced it has raised €1.8 million pre-series A funding round from Cemex Ventures, the corporate venture capital and open innovation unit of Cemex, the Mexican multinational building materials company. Originally from Chile and now based in London, ObraLink plans further to integrate itself within the Mexican ready-mix concrete market.
Lack of real-time visibility is a pervasive challenge to construction project planning and efficient execution. ObraLink’s easy-to-install and operate solution speeds up the construction process by fully automating construction progress, planning, and tracking concrete strength on the job site in real-time without human intervention, which is typically a time-consuming and error-prone task.
Comprised of 3 main elements, their solution is a 100% automatic BIM software complemented with patented AI hardware technology that generates information in real-time. Key data is then automatically shared in a specialized data module for concrete suppliers to optimize product quality according to the parameters required by the client.
“The only way to improve results in the construction industry is by automating daily and repetitive tasks during project execution. Digitalization alone is not sufficient to transform the industry. Given the complexity and the number of interconnected tasks and data in project execution, automatic systems are required to reduce the dependence on manual labor in construction,” said Emiliano Pinto, CEO of ObraLink. “We are thrilled to have found a major industry player like Cemex, which shares our vision for the future of construction.”
This follow-on investment in Obralink is related to Cemex’s Digital Innovation priorities and commitment to customer centricity. Obralink’s competitive solution, linked to Cemex’s service offering, helps developers and contractors reduce fixed costs by around 10% and avoid logistics complications such as booking changes. Cemex intends to continue rolling out projects with ObraLink to complement its services and product offering to customers.
“Two of the most troublesome pain points in the construction industry are data collection and standardization and the logistics of product deliveries. ObraLink has developed a solution that addresses both of these challenges, contributing to a more visible and digital construction industry,” added Gonzalo Galindo, Head of Cemex Ventures. “We are recommitting to ObraLink because of the impressive success they have already amassed in the LATAM region and are looking forward to working closely with them on future projects.”
Read the orginal article: https://www.eu-startups.com/2024/07/london-based-contech-obralink-raises-e1-8-million-to-automate-and-speed-up-the-construction-process/
