Our technological advances over we’vethe past few thousand years are astounding, but the construction industry still relies on age-old technology.
Configuring a robot to mix cement is easy, but delivering a CementTron 3000 to a construction site and training workers to use and maintain it is not the disruption builders look for, especially when margins are low. Are so thin and experienced workers hard to find?
Still, investors support startups that bring robotics, data management, automation, and augmented reality into construction.
Many large construction companies have their R&D departments, but that hasn’t fundhasn’tlly changed attitudes toward adopting new technology: In one survey, more than a third of respondents in the industry said they were ambivalent about using new technology tools. Despite their reluctance, more and more construction tech startups are helping builders with bidding, planning, modeling software, and, very often, drones.
To learn more about the market forces shaping construction technology in 2022, we spoke with five investors:
Nikitas Koutoupes, Director, Insight Partners Heinrich Gröller, Partner, Speedinvest Momei Qu, Director, PSP Growth Suzanne Fletcher, Venture Partner, Prime Movers Lab Sungjoon Cho, General Partner, D20 Capital
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Image Credits: Bryce Durbin/Sophie Alcorn
On Tuesday, May 24 at 8:30 a.m. PT/11:30 a.m., I’ll host I’m letter space with Silicon Valley immigration attorney Sophie Alcorn, who writes the “Dear Sophi” advice co”umn for blogline+ every Wednesday. If you have questions about legally working and living in the United States, join the conversation.
Follow @bloglineplus on Twitter to get a reminder for the chat.
Thank you very much for reading: I wish you a relaxing weekend.
Walter ThompsonSenior Editor, blogline+@yourprotagonist
For better or for worse: Managing Founder and CEO Tension within a Startup
Image Credits: Flashpop (Opens in new window)/Getty Images
Tech founders often recruit a CEO who can fill gaps in their business experience, but if everyone suffers, they can’t buildcan’trong a partnership; metaphorically, imagine two people in a lifeboat arguing about which direction leads to land.
Managing potential points of tension is critical, but founders need to be pragmatic: Choose only someone you respect and be willing to invest time and energy in cultivating a close relationship, advises Max Schireson, an executive-in-residence at Battery Ventures. Previously, the co-founders of MongoDB hired him as their CEO.
“At best, a”strong partnership can pioneer new models and build a sustainable and impactful business,” says Schisonn.
Dear Sophie: Is there anything I can do to speed up the EAD renewal process?
Image Credits: Bryce Durbin/blog link
Dear Sophie,
I have an L-2 visa as a dependent spouse of my husband’s LhuLhusband’sork permit) expires in May – we applied for my visa extension and EAD a few months ago. How long does the current process take?
Is there anything I can do so that my employment is not affected?
— Career Oriented
The One-Chart Argument That Tech Valuations Have Fallen Too Far
Image Credits: Nigel Sussman (Opens in a new window)
As you may have heard, tech companies have a bit of a whoopsie.
But is it possible that stock sellers have gone overboard when it comes to devaluing these startups so deeply and quickly?
In large part, Alex Wilhelm says they did because “selected t” ch companies are now worth less than before the pandemic, despite a few years of growth at the bank.”
To make h”s case, he tracked the stock price for Okta and found that the identity platform’s plaplatform’ss flipped back to where it was in early 2019.
“It’s also “It’s three times the size,” writes Al”x. “But it’s w”rth it’s now than it was then. Chew that.”
Three things “o remember when diversifying your startup’s cstartup’sImage credits: redial (Opens in new window)/Getty Images
Just like a sales team builds and refines its funnel, in fundraising mode, aspiring founders can create an investor funnel that will help sustain their business for years to come.
Oriana Papin-Zoghbi, CEO and co-founder of AOA Dx, the women’s heawomen’srtup, shared her investor breakdown with TC+:
35% private investors. 34% women (female investors or funds with a female head). 26% venture capitalists. 23% family and friends. 18% international investors. 15% angel groups.
“When building d”ng an investor funnel, it’scriticismo spell out what you want to find the right investors,” Papin-Zog” bi says.
“Finding th” right investors is like finding the right team members – you have to be candid about your expectations and address what you want them to bring forward.”
Pitch Dec” Teardown: BoxedUp’s $BoxedUp’son Seed Round Pitch Deck
Image Credits: BoxedUp (Opens in a new window)
When BoxedUp, a video production equipment rental company, was launched, it initially focused on serving corporate clients hosting events and conferences.
And then it turned: Earlier this year, BoxedUp raised a $2.3 million seed round to scale up its rental market, where individuals can rent high-quality equipment directly to makers.
“We found a”$10 billion opportunity where owner-operators rent things through Instagram and rental stores are still using really old websites,” said CEO “nd founder Donald Boone.
“Instead of”spending $30,000 to buy a camera to rent out one at a time, we could instead create the platform to connect people to that $30,000 camera,” he told b”oglonline March.
To help other founders replicate his success with BoxedUp’s sBosBoxedUpe shared the unreacted 22-slide pitch deck with blogline+.
