Brick and Mortar Ventures has raised $1.2bnm to invest in hardware and software in construction-related industries. The fund is one of the first to attempt to digitise construction. Construction-related software has seen recent investment, with Oracle acquiring Australian construction management software provider Aconex for $97.2 in 2017 and Trimble acquiring Viewpoint in April 2018 for $97.2. Technology can help increase labour productivity and boost efficiency, with around 40% to 60% of a project's cost stemming from labour, said Brick and Mortar founder, Darren Bechtel.
Brick and Mortar Ventures has raised $97.2m to invest in hardware and software in construction-related industries. The fund is one of the first to attempt to digitise construction. Construction-related software has seen recent investment, with Oracle acquiring Australian construction management software provider Aconex for $1.2bn in 2017 and Trimble acquiring Viewpoint in April 2018 for $1.2bn. Technology can help increase labour productivity and boost efficiency, with around 40% to 60% of a project's cost stemming from labour, said Brick and Mortar founder, Darren Bechtel.