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Venture Capital Firm Fueling More ConTech Startups

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Venture capital firm Shadow Ventures has announced the first graduating class of startups to come from its accelerator program. The company focuses on investing in startups in underserved markets, such as construction and engineering. 

The program is open to startups globally, regardless of geography. It is 100 percent remote, running entirely off Slack and Zoom Video Conference.

The companies emerging from Shadow Ventures’ accelerator program cover a diverse range of pressing technological issues faced by the industry, from clean air management and airport environment design to scheduling and automation. According to Shadow Ventures, the program matched chosen startups with partners and sponsors best suited to help develop their ideas and prepare them for venture funding.

The companies emerging from Shadow Ventures’ accelerator program cover a diverse range of pressing technological issues faced by the industry.

“The gifted group of graduating startups represent the innovation that the AEC and CRE industries desperately need,” said Shadow Ventures CEO and Founder K.P. Reddy.  

Over the course of the program, the startups pitched a host of investors and industry leaders.

Here’s a look at some of the most notable accelerator grads.

Citiri

Citiri is a collaborative software platform that helps newly opened airports operate smoothly by transforming the Operational Readiness Activation and Transition (ORAT) of airport construction projects. Citri makes it easier to plan, track and execute each ORAT element, engaging with stakeholders to ensure the project is completed successfully and without surprises.

Known Quantity Sensors

Known Quantity combines occupancy sensors with computer vision to improve smart buildings’ automation systems. While most occupancy sensors can only determine if a room or building is occupied by detecting motion, Known Quantity uses computer vision so that it can estimate the number of people in a building and account for variations in natural lighting levels. The system lets smart buildings better monitor and control HVAC and lighting usage to cut down on excess energy consumption.

TrenLot

TrenLot provides software to construction companies to make crew management and scheduling easier, “bringing the office and field closer together.” Its collaborative scheduling system helps contractors manage and track real-time project costs, automate work order management, and increase communication reliability.

LOD Planner

LOD Planner is an easy-to-use, cloud-based management and control platform that helps construction and engineering firms optimize Building Information Modeling (BIM) workflows. LOD Planner allows every contractor, architect, engineer, and owner to collaborate and scope out BIM projects on a single dedicated platform, keeping every stakeholder on the same page.

qlair

qlair is a proactive Clean Air Management Solution. It calculates the optimal setup for air purification based on both indoor and outdoor air quality data assessed in real time. It enables autonomous clean air solutions without the need for continuous maintenance of sensor hardware.

This list of graduating companies represents an elite group of startups that are transforming the world we live in—from design and construction to infrastructure and building management.

“This list of graduating companies represents an elite group of startups that are transforming the world we live in—from design and construction to infrastructure and building management,” said Shonodeep Modak, Chief Marketing Officer, North America, Schneider Electric, a corporate partner of Shadow Ventures’ accelerator program.

“We’re excited to continue our partnership with Shadow Ventures and support early disruptors, discover new talent and enable technology innovation across the built environment.”

Venture capital has taken an increasing interest in construction and engineering in recent years, particularly when it comes to technology. Over the last decade, the amount of venture dollars flowing into the industry has grown from $4.5 million in 2008 to well over $1 billion in 2018. It’s likely more accelerator programs like Shadow Ventures will appear in the future, and tracking the progress of young con-tech startups will be exciting to watch unfold.

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