BuiltWorlds is once again partnering with the industry-disrupting pure-play VC, Brick & Mortar Ventures, for a second season of its joint accelerator program, Formwork Labs. Formwork Labs (FWL), an innovation-empowering 10-week program with the goal of advancing the built environment, has just announced the Spring 2023 Cohort
This year’s FWL pool of early-stage startups was notably international with more than 50 innovators across 15 nations & 5 continents applying to be a part of this next-generation guiding construction tech cohort.
The Formwork Labs team (from both BuiltWorlds and Brick & Mortar Ventures) is thrilled to announce the 5 carefully selected early-stage ventures that will constitute Formwork Labs' 2023 accelerator program – Pelles.ai (formerly Roza.ai), Segue, Mangxo, Airtask, and Veristart.
THE ACCELERATOR
Rapidly developing tech adoption in the building tech space has led to a tidal wave of market-disrupting ideas, inspiring a slew of undercapitalized and undeveloped entrepreneurial endeavors.
The infancy of the AEC startup space led to the organic formation of Formwork Labs and its accelerator program. The establishment of Formwork Labs marks the beginning of a market-advancing collaboration between innovative thought leaders in building tech, BuiltWorlds and Brick & Mortar Ventures, each leveraging complementary industry expertise to launch this innovation-nurturing program.
Formwork Labs is building a foundation for the next generation of construction-focused ventures. This curated Cohort of pre-seed startups was provided with the resources (financial & business advisory support from B&M Ventures) as well as investor/customer exposure and insights (BuiltWorlds ecosystem of AEC tech adaptors and investors) to propel each venture’s development timeline and position each of them for rapid scalability as they enter a high-growth phase. The resources provided will ideally usher these idea-stage businesses into a successful Seed/Series A funding round in the coming months.
THE COHORT
The construction industry has been slow to adapt to the digital renaissance of the Roaring 20s, but this adoption fire was ignited by the global lockdowns of 2020, which opened up a clear blue ocean of investment opportunities for AEC-inclined innovators to take charge. The pandemic represented a changing of the guard and next-generation tools are overhauling the building space (both in construction and management), and now adapting the latest tech has become a competitive necessity.
Formwork Lab’s careful curation of accelerator applicants has led to 5 promising building-tech startups with market-disrupting potential as our economy emerges from the pandemic with an innovative tailwind priming these companies to make a splash in the construction market.
Meet the Cohort
Origin: Canada
Construction equipment keys are literally all the same. In most cases one common key works in all units made for a manufacturer, providing almost no security. As a result, over $5B of construction equipment is stolen in each year. Veristart addresses this problem by putting construction equipment keys in the cloud, using cloud and mobile technology to empower equipment owners with real-time control over who can operate their equipment. This benefits the equipment owner through reduced risk of loss, reduced downtime, and improved worker safety.
Origin: Israel
Pelles.ai (formerly Roza.ai) transforms the way MEP plans are made today by leveraging generative design, human-machine interaction, and advanced path-planning algorithms
Origin: US
Segue is a workforce management solution for the construction industry.
Origin: Canada
Airtasks is a workflow management platform for construction teams. Our software helps deliver projects faster by breaking complicated processes into simple tasks.
Origin: Mexico
Mangxo is simplifying trade credit and logistics for construction in LATAM.
Want To Learn More About Venture West
See Conference Agenda & Signup To Attend
Discussion
Be the first to leave a comment.
You must be a member of the BuiltWorlds community to join the discussion.