Despite the short week in the U.S., there’s a lot going on. Here’s our weekly round up of news and announcements from members of the BuiltWorlds network. Want to be included? Send your press releases or story ideas to email@example.com.
Caterpillar backs robotic bricklayer
Fastbrick Robotics, the Australian firm developing robotic bricklaying technology, has inked a deal with Caterpillar. The two companies intend to collaborate on the development, manufacturing and sales of Fastbrick’s robotic bricklaying product. Caterpillar will initially invest $2 million with the option to invest up to $8 million more.
Managing Director Mike Pivac said, “Caterpillar is a globally recognized industry leader, and we look forward to collaborating with the company and uniting our teams to share ideas, pursue innovation and explore opportunities to commercialize our unique technology.”
Pritzker Group considered VC most likely to back startups run by women
Women entrepreneurs take note: Pritzker Group Venture Capital had the highest percentage of female-founded businesses in their portfolio out of the top 100 investors in the nation, according to a study by Instacart’s Jeremy Stanley. Partner at Pritzker Group, Matt McCall, says, “This is the era of the female entrepreneur.”
IBM research shows 73% of CEOs see major potential in AI and cognitive computing
A new study by IBM finds that 73% of CEO’s foresee cognitive computing, or artificial intelligence (AI), becoming an important factor for their businesses. Additionally, 50% of the 6,000 CEOs surveyed plan to adopt cognitive computing by the year 2019. According to IBM, planning is crucial for implementing these technology programs in the coming years.
JLL study: Silicon Valley is most expensive location for office builtouts
Jones Lang LaSalle’s study on the most expensive cities to build out office space in found the most expensive is Silicon Valley, costing $199.22 per square foot in out-of-pocket costs. The study also found the most affordable city to be Washington, D.C. at $103.88 per square foot. Nationally, the average out-of-pocket cost is in the middle, at $152.88 per square foot.
eSub wins innovation award
eSUB Construction Software (eSUB), the software firm offering project management and document control solutions for subcontractors, was honored on the 2017 Red Herring Top 100 list. The award, established in 1906, highlights the most innovative tech companies in North America. Past winners include Facebook and Google. Wendy Rogers, eSUB’s President and CEO, said, “We are honored to be recognized for such a prestigious award and to join the ranks of the most disruptive companies across the globe.”
Source: Press release
New project: Ozinga to build clean fueling station
Ozinga Energy, Ozinga’s branch focused on compressed natural gas (CNG), will build a CNG filling station for the public works division in Hobart, IN. The city intends to use the station to fuel its current fleet of CNG vehicles and to expand the fleet in the future as the division continues to save money with the efficient energy solution.