US construction equipment rental solution Equipment Share raises $290 million.
EquipmentShare, a startup which provides fleet and construction site management solutions, plus equipment rental for the US construction sector, has just announced the completion of a $290 million funding round. The company has received a total of $700 million in investment since its inception in 2014.
The latest funding was led by BDT Capital Partners, as well as existing investors (RedBird Capital Partners, Tru Arrow Partners and Sound Ventures) and several new investors, including Brown Advisors. The funds raised will enable EquipmentShare to expand its presence in the US and further develop its T3 technology platform.
The cloud-based operating solution is designed specifically for the construction industry, offering full onsite visibility of equipment, materials and employees to increase operational productivity on a construction site. What’s more, EquipmentShare also offers construction equipment dealership and rental services. It has more than 150 local offices across the US – including 32 premises opening in 2022 – and more than 4,100 employees. The business is a profitable one.
Despite the current environment which is more challenging for tech startups, this Series E fundraising was completed at a valuation that was 40% higher than the previous raise in 2021.
GITAI successfully demonstrates its lunar base construction technology
What if the future of construction was in space? The Japanese space robotics startup GITAI has recently conducted a successful demonstration of lunar base construction using two robotic arms and two of its Lunar Robotic Rovers in a simulated lunar environment in the US.
GITAI’s robots successfully completed all outlined tasks as part of various tests, including excavation, solar panel installation, placing an antenna module on a high place, welding a panel, towing of an inflatable module, and changing the rover tyre.
Created in 2016 in Japan, GITAI focuses its R&D activities on space construction in order to support space agencies with their lunar expeditions, Mars explorations or orbit operations. The company has developed special inchworm-type robotic arms equipped with a grapple fixture at both ends, which can be connected to various tools. They can also be connected to different vehicles, such as rovers, landers and satellites.
GITAI’s robotic lunar rover has been designed to perform different tasks on the moon such as exploration, mining, inspection, maintenance and assembly.
Startup Safeguard AI raises $8 million for construction site safety
SafeGuard AI, an Israeli startup specialising in construction site safety, has just completed an initial $8 million Series A funding round with investments from business angels and a group of real estate investors.
This funding will be used to develop its technology that uses machine learning to predict and prevent accidents on construction sites. The solution could also be applied to other industries, such as manufacturing, maritime and agriculture.
The tools designed by SafeGuard AI aim to significantly improve workers’ safety by collecting data simultaneously from different sources, such as cameras, sensors and drones. Algorithms are then used to identify areas with a high risk of human error and to prevent dangerous mistakes in real time.
The Tel Aviv-based company also used the fundraising as an opportunity to announce the opening of a US subsidiary, looking to develop its sales there under a company called Otoos.
