Two years and two classes later, Formwork Labs - a collaborative accelerator project between Brick & Mortar Ventures and BuiltWorlds - is announcing its third class of participating startups & Industry Innovators. Selected from more than 70 startups, the five early-stage companies will have access to industry mentors and expert guidance as they work to refine their products and go-to-market strategies. Each startup also receives funding to accelerate their efforts.
“It's exciting to see more founders from outside of the construction industry building technologies for our industry. It's even more exciting to see the increased engagement we've had from the industry to participate in the Formwork Labs program as mentors. The industry interest means timing is NOW for construction tech. We love the community of construction tech startups, construction professionals and investors rallying around Formwork Labs and couldn't be more grateful for everyone's support to push the industry forward.”
Alice Leung, Vice President, Brick & Mortar Ventures
Brick & Mortar Ventures, a premier construction tech venture firm, and BuiltWorlds, a global network of leaders in the built industry, founded Formwork Labs in 2022 to encourage innovation in the sector. By working with early-stage startups, Formwork’s mission is to help companies set a solid foundation from the very beginning, as opposed to weathering costly and time-consuming restructurings as they scale.
The program aims to help companies better understand their businesses in numerous areas through classes and discussions led by industry experts. The course schedule includes focused discussions on topics such as customer discovery, branding, managing partnerships, sales reporting and product testing.
At the culmination of the program, startups present their ideas to a live and virtual audience. This year’s demo day will be held in San Francisco on May 15.
Read about the 2024 cohort:
Flowlly
Flowlly is the first AI Project Management Assistant for the construction industry that helps with schedule management, data analysis, risks identification, and real-time decision-making.
Matbook
Matbook is using technology to increase efficiency and sustainability in the construction materials sector. They currently offer direct factory procurement of quartz, natural stone, ceramic tiles, porcelain tiles, PVC flooring and vinyl flooring. They hope that by bringing more technology solutions into this area, it will not only help efficiencies but also create a more transparent supply chain.
PIVLA
Pivla is an AI-enabled SaaS solution that allows construction firms to comply with new ESG regulations while building energy-efficient buildings. Pivla does this while helping these firms navigate the $350 billion in funding available for energy-efficient construction through the recent Inflation Reduction Act in order to lower project costs.
Silo-In
Silo-In is a platform aimed to address the growing issue of labor within the construction industry. With tools that allow you to map out entire teams, create deeper, more informative profiles, it cuts down the time needed searching for talent that is a good fit. The founder has 15 years of experience in the construction industry, traversing multiple roles including that of a human resource professional which gives them real-world insight into the pain point a lot of contracting companies face.
Terrascape
TerraScape AI transforms risk assessment for developers, general contractors, sub-contractors, and insurance companies in the construction industry. Utilizing AI-driven, modular risk modeling it provides comprehensive scenario-based analysis and financially-grounded risk evaluations. The platform's customizable and scalable solutions reflect the relative nature of risk and cater to the unique demands of each market vertical, empowering stakeholders with the tools for improved decision-making and a higher likelihood of project success.
About Brick & Mortar Ventures
Brick & Mortar Ventures is an early stage venture fund focused on the Built World. Founded by Darren Bechtel, the firm invests in emerging companies developing innovative software and hardware solutions for the industries of architecture, engineering, construction, and facilities management. Notable past investments of the firm and its General Partner include Seed round participation in PlanGrid, Levelset, BuildingConnected, BuildZoom, and Rhumbix, as well as early-stage investments in FieldWire, Curbio, and Curri. Brick & Mortar Ventures is based in San Francisco, CA.
About BuiltWorlds
Founded in 2013, BuiltWorlds is a worldwide network of built industry professionals dedicated to leadership, learning, and collaboration in the built environment. With a member network of more than 1,000 professionals from nearly 300 companies across 21 countries, BuiltWorlds represents the leading edge in engineering, construction, technology, real estate, and architecture. In the face of the industry's digital transformation, the BuiltWorlds community is committed to helping members successfully adapt by developing strategic insights and relationships and fostering emerging technology, innovation, and sustainability across the buildings and infrastructure sectors.
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