Assembly raises $5M facility, 1001 AI announces $9M seed round, Acelab snaps $14M in series a

Snapshot

OFA Group launches PlanAid AI for code compliance, Assembly secures $5M credit facility, Acelab raises $14M Series A, 1001 AI closes $9M seed round.

AEC Tech in Action

NEOM Megacity construction faces delays and budget challenges: Saudi Arabia's NEOM Megacity, particularly The Line segment, aims for full completion by 2045 amid significant hurdles and revised budgets. (indiatimes.com)

New Innovations and Partnerships

OFA Group launches PlanAid AI application for building code compliance: OFA Group announces the beta launch of PlanAid, an AI application designed to assist professionals in checking building designs against local codes. (financialcontent.com)

HSYCO integrates IKEA DIRIGERA devices into building automation platform: HSYCO announces full native support for IKEA DIRIGERA-compatible devices, enhancing building automation capabilities. (electropages.com)

Funding Rounds and M&A Activity

Assembly: Assembly Corp. has announced a $5 million credit facility from PaceZero Capital Partners to support prefabricated housing projects in the Greater Toronto Area. (cantechletter.com)

1001 AI: The deep-tech startup 1001 AI has raised $9 million in seed funding to accelerate deployments in construction and other sectors across the Gulf markets. (wamda.com)

Acelab: Acelab raises $14 million in Series A funding to expand its AI-driven platform for construction materials. (commercialobserver.com)

Policy & Regulation Updates

South America

New tariffs increase construction costs for housing market: The U.S. has implemented new tariffs on imported building materials, raising costs for home construction and renovation. (bbc.com)