Magentic raises $5.5M from Sequoia, DroneDeploy launches Progress AI

Snapshot

Magentic raises $5.5M from Sequoia Capital, DroneDeploy introduces Progress AI, Amtrak partners with AI firm.

New Innovations and Partnerships

TechnoStruct academy becomes first Indian buildingSMART training partner: TechnoStruct Academy becomes buildingSMART International's first authorized Indian training partner, launching globally recognized openBIM certification programs focused on Industry Foundation Classes and interoperability standards to upskill India's AEC workforce. (smestreet.com)

DroneDeploy launches Progress AI for construction tracking: DroneDeploy introduces Progress AI, an AI tool for automating construction progress tracking using drone and camera data. (dronelife.com)

Amtrak partners with AI firm on infrastructure projects: Amtrak collaborates with an AI innovator to enhance infrastructure project efficiency. (railway.supply)

Funding Rounds and M&A Activity

Magentic: London-based Magentic raises $5.5M from Sequoia Capital, The Westly Group, and First Momentum Ventures to deploy AI "Mages" that autonomously enforce contracts and recover lost procurement value for industrial companies. (firstmomentum.vc)

Policy & Regulation Updates

EU

Germany streamlines defence procurement to enhance military readiness: Germany's cabinet approved a draft law to accelerate defence procurement, easing regulations for military construction projects. (tradingview.com)