VC firm Pi Labs has invested in construction analytics startup Contilio, which it said “fills a large void” in efficiency and waste reduction in construction.
Contilio is an AI platform that can intelligently classify all structural, architectural and MEP elements in 3D construction site data, thereby providing actionable insights.
The startup said the platform can deliver progress and quality insights 15 times faster than customers traditionally could. This enables key stakeholders to remotely track progress, manage delays and installation errors and make informed decisions faster. That, in turn, cuts costs and emissions.
Contilio’s software was designed to work seamlessly with all commercially available lidar or laser scanners and with drones. Since launching in 2019, Contilio’s clients have included Balfour Beatty, Prologis and Italian energy and gas distributor Enel.
Faisal Butt, CEO of Pi Labs, said: “Contilio’s innovative solution fills a large void in terms of enhancing construction efficiency and reducing waste. Their AI software not only helps enable significant cost savings during construction, but also drives sustainability benefits and better build quality for owners and developers, enabling them to reap the benefits during asset operations.”
The investment taps into Pi Labs’ view that construction is “ripe for technology disruption and evolution” given the industry’s continued reliance on paper-based processes that lead to “wasteful errors, critical delays and overruns”.
Contilio estimates that 40% of the sector’s value is lost in unnecessary delays, rework and waste and although BIM and visualisation investments have helped, they have not bridged the gap.
Zara Riahi, founder and CEO of Contilio, said: “After spending years managing mega construction projects and investing in AI and fintech, I realised that 3D AI advancements would help deliver the much-needed change for an industry that I knew deserved much better.
“The Covid-19 pandemic, shortage of skilled workforce and the growing trend for better build quality have exponentially increased the demand for data-driven insights, predictable outcomes and timely verification of quality errors. This has shifted the industry’s focus from 360 visualisation tools to automated and scalable software, taking the value game to the next level.”
Contilio plans to use the $1.5m investment, led by Pi Labs, to expand to more customers, further develop the product and tech and accelerate its growth.