The global construction market will be a $12 trillion industry by 2022, to a recent Construction Intelligence Center (CIC) forecast. However, the sector is not — various reports is among the lowest-performing industries in terms of productivity, a factor that can be attributed in part to the lack of digitization. And this is aimed at technology startups that are looking to bring building sites into the 21st century.
The latest such startup to garner the attentions of venture capitalists is , a fledgling company that to automatically create navigable 360-degree photos of construction sites. The company today announced that it has raised $14 million in a series A round of funding led by Lux Capital, with participation from some notable names from the real estate