Boston, MA (July 29, 2022) -- AirWorks Solutions, an AI-powered geospatial data analytics software for civil engineering & GIS has raised $5 million in funding to continue business growth and product development. AirWorks has set out to build the future of mapping and is looking to solve the billion-dollar problem of turning unstructured data into usable plans and insights for engineering, construction, and more.
With this additional funding, AirWorks will expand its Customer Success team to better support its existing client base, which currently includes Top 100 ENR firms Jacobs, CHA Consulting, Civil & Environmental Consultants (CEC), Kimley-Horn, Woolpert, and more. AirWorks will also continue to develop its deep learning models to provide accurate AI-only outputs for clients.
"The need for rapid analysis of geospatial data is bigger than ever before. Thanks to better and more affordable data collection options such as drones, aircraft, satellites, and mobile scanners, we've never had such excellent means available to learn about our world. AirWorks is the beginning of a future in which better business outcomes can be achieved by understanding our physical world. Today, we're achieving that by speeding up design and construction projects. Tomorrow, we’ll be able to mitigate infrastructure failures and tackle environmental challenges by providing insights and highly accurate mapping data for all industries on a real-time basis. We’re excited for new and existing partners that join us on that mission." – David Morczinek, co-founder & CEO of AirWorks
The round was led by GroundBreak Ventures, a venture capital firm focused on real estate and property technology (PropTech). Tyler Ashby has joined AirWorks' Board of Directors.
"AirWorks is uniquely positioned between two enormous industries: aerial image capture and construction. By automating labor-intensive drawing creation, AirWorks removes the bottleneck between these two industries to help construction projects move more quickly and to give clients bandwidth to expand their businesses. The sky (or perhaps a low earth orbit) is the limit for David, Adam, and the team, and we’re excited to help them on the road to becoming industry leaders in construction, and onward into new verticals as well." – Tyler Ashby, Principal, GroundBreak Ventures
Additionally, the round included participation from past investors MetaProp, Innospark, Hometeam, and Cybernetix Ventures –all of whom are committed to the advancement of AI technology within the construction, real estate, and property development industries.
New investors include Capital Innovators, based in St. Louis, one of the country's foremost geospatial technology hubs, and angel investors. Boston-based Suffolk Technologies is also joining as an investor this round. The firm backs early-stage startups across the entire building lifecycle, propelling them into ecosystem-wide adoption.“The construction industry is in urgent need of solutions that improve efficiency, especially given rising costs and labor shortage,” said Wan Li Zhu, Co-Founder & Managing Director of Suffolk Technologies. “By applying AI-driven automation to the early phases of the building process, AirWorks enables faster and more accurate delivery of complex construction projects.”
AirWorks’ software interprets data collected by drones, aircraft, satellites, and through laser scanning (LiDAR). Then, using the data acquired, the software helps firms visualize and analyze sites. Through proprietary deep learning algorithms, the software autonomously converts geospatial datasets into valuable site plans. Having this information readily available at multiple stages of the design and build phase of projects dramatically improves the ability to create accurate plans and designs, which ultimately leads to better on-the-ground decision-making, cost savings, and fewer delays.
Innovation is in our DNA. Born at MIT, inspired by the advances in aerial data acquisition and the potential power of AI, AirWorks was founded by David Morczinek and Adam Kersnowski in August of 2017. Their complementary backgrounds in aerospace engineering, drones, and, construction led to a combined desire to harness the power of technology to automate a traditionally time-consuming aerial data processing approach.
Headquartered in Boston, AirWorks employs a team of unmatched AI experts, software developers, sales experts, marketers, geographers, and civil engineers all working together to redefine the future of mapping for the built world. For more information, visit http://airworks.io/.