Intsite, the first behind the world’s first autonomous cranes, has received $1.3 million in funding from Israeli company Terra Venture Partners, the Israel Innovation Authority, as well as other investors.
Intsite have developed a platform that uses image processing to analyse camera feeds in real-time, ensuring tower crane operators are made aware of workers and obstacles within range.
The firm said automation increases the crane’s efficiency and can help projects finish up to 30 per cent quicker.
According to Intsite, 30 per cent of cranes in use are considered obsolescent, and potentially dangerous to workers on-site, passers-by and operators, as operations are often conducted in uncontrollable environments.
“We are excited that Terra Venture Partners is supporting us on this journey, and I have a great faith in our growing team and solution,” said Tzach Ram-On, Intsite CEO.
“About 98 per cent of construction mega-projects go significantly over budget, in part as a result of heavy equipment inefficiencies.
“On a personal level, as a civil engineer, I am thrilled the construction sector is starting to reap the benefits of digital transformation.
“Our platform’s been tested on sites owned by Shikun & Binui Solel Boneh, one of Israel’s largest construction companies, as part of the firm’s BuildUp innovation program, and we also expect to begin piloting its system in the UK and France early next year.”
Astorre Modena, Terra Venture Partners managing partner, said they are excited for Intsite to realise its potential.
“We believe the construction industry has vast potential for improving productivity and efficiency through digitisation, innovative technologies, and new construction techniques,” Modena continued.
“This sector is where marketing was 16 years ago, before the introduction of Salesforce – less than one per cent of revenues from construction are spent on software, compared to counterparts spending of 3.5-4.5 per cent.”
The technology is currently being tested onsite in Israel and will be piloted in the UK and France in 2019.