Bricks And Bytes Podcast
March 30, 2024

BBBC 30/03/24 – Ediphi’s $12M Raise, Pre-Construction Opportunities, and Market Domination

Construction
Construction
BBBC 30/03/24 - Ediphi's $12M Raise, Pre-Construction Opportunities, and Market Domination
Loading
/

Show Notes

Welcome to the Bricks & Bytes Broadcast (BBBC) with Patric Hellermann of Foundamental.

This format of episode is a weekly dive into the latest construction tech news from the perspective of investors.

From innovations to fundings, market insights, and VC-isms, if you’re building in construction tech, investing in construction tech, or intersecting between the tech and physical world, then we’ll help you keep your finger on the pulse.

———————–

In this episode, Patric discusses the underserved areas in ConstruTech, including common data environments, on-site robotics, and the pre-construction space.

The pre-construction phase is particularly challenging as estimations need to be accurate to win projects and avoid cost overruns. Ediphi, a company that focuses on construction estimating, recently raised a $12 million series A round.

The US construction estimating software market is valued at $1.4 billion, with a predicted compound annual growth rate of 8.9% from 2023 to 2030.

Differentiating in the construction estimating market is crucial, and Ediphi offers cloud-based collaboration and access to accurate cost data. Other companies in the space include 1Build and SpotLock.

The conversation also touches on the challenges of pricing bespoke projects, the importance of a collaborative estimation process, and the history of Ediphi and its competition.

The episode concludes with discussions on rapid funding rounds, the perception of founders with previous exits, and upcoming projects in construction technology, including a super series and an under-the-radar robotics company.

Takeaways

  • Underserved areas in ConstruTech include common data environments, on-site robotics, and the pre-construction space.
  • Accurate estimations in the pre-construction phase are crucial to winning projects and avoiding cost overruns.
  • Ediphi, a company focused on construction estimating, recently raised a $12 million series A round.
  • The US construction estimating software market is valued at $1.4 billion, with a predicted compound annual growth rate of 8.9% from 2023 to 2030.
  • Differentiation in the construction estimating market is important, and Ediphi offers cloud-based collaboration and access to accurate cost data.

Timestamps:

00:00 Underserved Areas in ConstruTech

01:16 The Importance of Pre-Construction Phase

04:27 The Market Size of Pre-Construction Space

05:57 Ediphi's Series A Funding and Market Opportunity

07:23 Differentiation in the Construction Estimating Market

09:30 Challenges in Pricing Bespoke Projects

11:29 Collaborative Estimation Process

13:44 Ediphi's Origin Story and Competition

15:18 Rapid Funding Rounds and Reasons Behind Them

21:17 Upcoming Super Series in Construction Technology

21:59 Under the Radar Robotics Company

22:58 Discussion on Modulus and Lessons Learned

Bricks And Bytes Podcast

Stay Connected

Subscribe to keep up to date with all the latest podcast news, and be the first to hear about the technologies constructing tomorrow.

You have no subscribe urls set, please go to Podcast → Settings → Feed Details to set you your subscribe urls.

Don’t Get Left Behind: Master the Future of Construction with The Top Insights from The Executives In 50 Eye Opening Episodes

Get a FREE copy of our Building The Future: Key Insights From 50 Episodes On Construction Technology”  and a FREE weekly email to stay up to date on construction tech. SIGN UP TODAY!

Building The Future

Join 465 Contech Enthusiasts!

Building The Future

Sign Up

Thanks For Signing Up!