Building materials supplier Kingspan has provided $10m of funding for Invicara, an Ireland-based provider of analytics software for the construction sector.
Invicara has developed cloud-based software that uses building information modelling (BIM), where a digital model of a physical space is created, to analyse information on construction projects throughout their lifecycle.
The platform automatically scans inputted BIM data and highlights any potential issues within the construction process. Invicara plans to add new features to the software in 2018, and Kingspan and Invicara will collaborate on the development of a new product.
Louise Foody, Kingspan’s director of digital and brand, will join Invacara’s board of directors along with Mike Stenson, the corporate’s head of innovation.
Anand Mecheri, Invicara’s founder and CEO, said: “Our relationship with Kingspan opens a new market opportunity for Invicara – providing us with deep context to build powerful solutions on the Invicara platform, enabling product manufacturers to participate in the digitalisation of construction.
“From the start, Invicara’s vision has been to improve the value derived from BIM for the entire ecosystem of the built environment – providing an efficient flow of reliable data for a wide range of workflows.”