Bentley Systems funds infrastructure startups, Smart building labs launch in Canada

Snapshot

AEC software market grows, Bentley awards $1M to 3D startups, Bridgepoint partners with Chime Software, Morguard launches smart building labs, McAvoy acquired by Duke Street.

AEC Tech in Action

AEC software market shows steady long-term growth trajectory: The AEC software market is projected to expand significantly over the next decade, driven by increasing adoption of digital tools and technologies. (newstrail.com)

Bentley Systems awards $1 million to four startups: Bentley Systems announces funding of up to $250,000 each to four startups focused on 3D technology for infrastructure. (construction-property.com)

New Innovations and Partnerships

Bridgepoint partners with Chime to boost construction tech adoption: Bridgepoint has announced a partnership and minority investment in Chime Software to enhance tech adoption among construction firms. (co.uk)

Morguard and partners launch smart building labs in Canada: Morguard, CENGN, and Nokia launch three Smart Building Living Labs to support technology innovation in Montreal, Toronto, and Ottawa, backed by a $6.5 million project. (ft.com)

Funding Rounds and M&A Activity

McAvoy Group: McAvoy, known for modular buildings, is acquired by Duke Street after reporting a revenue increase from £59 million to £75 million for the year ending April 2024. (co.uk)