5 Companies Making Major Waves in Venture Growth: A Look Back at 2022 Building Tech 50

With a turbulent economy and potential for an economic downturn, the AEC industry has responded with resilient solutions while remaining cautious about their prospects. While the outlook for 2023 is uncertain, companies within the built world remain hopeful that they will be able to adapt and emerge stronger from any roadblocks that lie ahead. This past year there has been notable venture growth within the industry despite drawbacks from the market at large.

Below we will be highlighting 5 of the 2022 Building Tech 50 List winners that have been creating buzz within venture growth this past year.

Keep an eye out to see this year's building tech trailblazers that will be featured in BuiltWorlds' 2023 Building Tech 50 List, which will be released on Thursday, May 11.

Covered is an independent insurance agency that streamlines the insurance shopping process through a digitized platform that can compare rates from different reputable carriers and purchase a policy in one platform. Covered has begun a partnership with Q2’s digital banking platform to integrate its insurance services into Q2’s platform. This will allow for those with Covered insurance services to have access directly through the platform.

Falkbuilt has digitized interior construction with Digital Component Construction, providing greater efficiency and sustainability. Their platform hosts precise manufacturing and onsite installation to help reduce waste, while offering a multitude of design options, infection control solutions, and superior acoustics. They have closed a CAD $35 million series A-2 funding round that will be utilized to stimulate further growth. The funds will specifically be used to expand manufacturing capabilities, optimize its technology platform, and increase its team to grow their solutions further.

Nexii is a sustainable building company that produces low carbon buildings and products to mitigate the built environment’s climate impact. Through innovative designs and solutions, Nexii hopes to reduce carbon emissions to promote a sustainable future. Within the past year, Nexii has raised CAD $45 million in its latest funding round, which pushes its valuation to over CAD $2 billion. These funds will be used to accelerate the company’s growth and manufacturing capacity to meet with the growing demand for sustainable solutions.

PassiveLogic is revolutionizing automation within the built environment with its launch of the first fully autonomous platform that replaces legacy control logic with real-time control decisions, which is aiding the reduction of buildings carbon footprint. They announced a partnership with Nvidia that is aimed to develop new solutions for building automation, all while reducing carbon emissions. PassiveLogic has secured $15 million in funding that will be used to fast-track the development of its technology.

Spaceti offers a holistic perspective towards space management by combining Workplace Analytics, indoor air quality management, and a Workplace App that helps to foster a healthy and safe work environment. They have secured new funding that will be used to support the expansion within Europe, the United States, and the Middle East. This funding will help Spaceti to further develop its smart building management software and hardware solutions that will support companies trying to optimize their use of space.

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