Shovels and Koncrete raise, Cybersecurity for buildings and AEC Internet Index insights

Snapshot

Here’s your quick rundown of AEC updates:Naver completed digital twin platforms for Mecca, Medina, and Jeddah to enhance Saudi urban planning capabilities. AIM Intelligent Machines raised $50 million to expand operations and open a Washington facility, while Shovels secured $5 million for building permit data extraction technology. Honeywell introduced Connected Solutions, an AI building management platform with integrated cybersecurity features for industrial operations.

AEC Tech in Action

Naver completes digital twin project for three Saudi cities: Naver announced the completion of a digital twin platform for Mecca, Medina, and Jeddah, enhancing urban planning capabilities in Saudi Arabia. (mk.co)

New Innovations and Partnerships

Honeywell launches AI building management and cybersecurity solutions: Honeywell introduces Connected Solutions, an AI-powered platform for building management, and new cybersecurity technologies to enhance industrial operations. (fierce-network.com)

Crudo Semiconductor outlines AEC growth strategy and partnerships: Crudo Semiconductor presented its growth strategy focused on the architecture, engineering, and construction sectors at the Mizuho Tech Conference. (investing.com)

Resco partners with KMS to aid UK construction SMEs: Resco and KMS launch a digital solution to help UK construction SMEs comply with the Building Safety Act. (bastillepost.com)

Buildxact integrates AI for bidding and estimating: Buildxact has launched AI-assisted features to help residential builders generate project estimates in under 30 seconds, enhancing accuracy and efficiency. (connectedworld.com)

Funding Rounds and M&A Activity

Shovels: Shovels announced a $5 million seed round to advance its building permit data extraction technology, increasing total funding to $6.5 million. (commercialobserver.com)

AIM Intelligent Machines: AIM Intelligent Machines has announced a $50 million funding round to expand its workforce and open a new facility in Washington state. (semafor.com)

Koncrete: SigmaRoc's Skreenhouse Ventures announces a €1 million seed investment in Koncrete, aimed at enhancing digital procurement in construction. (investments.halifax.uk)

Opinions

June AEC Internet Index Released: Foundamental's monthly AEC-Tech Internet Index tracks web traffic across 135 venture-backed construction technology startups to reveal adoption trends, brand momentum, and market shifts beyond traditional funding and hiring metrics. (foundamental.com)

Opinions

June AEC Internet Index Released: Foundamental's monthly AEC-Tech Internet Index tracks web traffic across 135 venture-backed construction technology startups to reveal adoption trends, brand momentum, and market shifts beyond traditional funding and hiring metrics. (foundamental.com)