ShapeDo, an Israeli construction tech company, has received a late seed investment of $650,000 from Goldacre, a London-based VC focused on proptech and the Smart Built Environment. The startup was part of the 2018/19 cohort of RElab, a new accelerator programme run by Goldacre. With a slogan of “Control change,” the software uses image recognition technology to help construction companies, engineers, and architects manage change in their designs. The SaaS allows all stakeholders to review changes in real time, offering tools for collaboration and efficiency (reportedly increasing efficiency by 20-40% in Design/QS teams).
Ari Isaacs, one of ShapeDo’s founders, said: “Change management is one of the major unsolved issues in construction and civil engineering. We are delighted to have Goldacre, who bring deep knowledge of the local property, construction and technology markets, as partners in addressing it. We couldn’t imagine a better partner to help us navigate the UK construction market.” Goldacre’s managing director and co-founder, and the head of RElab, Fionnuala Hogan, said: “Construction is in the early stages of the digitalisation cycle and, as investors in the space, we are attracted by the efficiency potential that companies such as ShapeDo are bringing to the sector. We were very impressed with the ShapeDo team during RElab, where they proved their value proposition with one of our industry partners. We are looking forward to supporting them scale their business.”