The $28 billion construction industry problem Sync Technologies set out to solve.
12% of construction work is spent on rework, costing the Australian construction industry billions, every year.
Construction is complex and fragmented. Not only that, but 12% of construction work is spent on rework, costing the Australian construction industry $28 billion a year.
Sync Technologies, which just received funding from global early-stage VC Antler, enables construction businesses to turn data from existing and emerging technologies into action, empowering site managers, project managers and supervisors via their super app Construction Assistance System (CAS).
Too often precious time is lost looking through different apps and systems to find an answer to a simple question.
By syncing existing technologies, incorporating data from different sources, automating processes and connecting everyone involved in a project CAS becomes “the single source of truth” on the construction site. It enables decision makers to communicate more effectively and with a higher level of safety and quality assurance, which in turn limits re-work and reduces margin erosion.
Co-founder and CEO Carolina Dreifuss, is passionate about change, innovation and shaping the future of construction.
“On site is when all stakeholders – clients, designers, engineers and sub-contractors – come together. They are all using different systems to manage the daily life on a construction site,” she says.
“We use information fusion principles, which are then displayed in the simplest form possible through our solutions and services… and shared across the different stakeholders, connecting everyone and enabling complete situational awareness on construction sites.”
Sync Technologies focuses on the quality check process on a construction site, which is currently a manual and time-consuming process and entails the involvement of many resources.
“Our system enables the digitisation of the current state through the creation of a digital twin,” says Dreifuss.
“Through the usage of a mobile device, we are eliminating hours spent on taking photos, videos and measurements, providing an accurate visualisation of what has been built.”
Dreifuss is highly skilled in business strategies, and has experience leveraging data and processes to transform and grow business units within the construction industry. Prior to launching Sync Technologies, she was an Asia Pacific lead at Hilti, a global leader in construction technology products.
Similarly, co-founder and COO Alex Pryor has seven years experience in the construction industry, as a business leader in the luxury segment. Prior to that Alex was also in the Special Forces with the Australian Army.
“I spent the last 12 years in the construction industry, having worked extensively in Australia and across nine countries in the Asia-Pacific region,” says Dreifuss.
“Whilst working in luxury construction, Alex found similar problems to what I had discovered across the Asia-Pacific. When we compared notes, we both felt compelled to start Sync Technologies to solve these issues.”
Sync Technologies is currently working with four testing clients on the development of its MVP.
“The on-boarding of our first client is going well and the first jobs are being completed in Brisbane and Melbourne,” says Dreifuss.
“Through our website, businesses are able to sign-up to our waitlist enabling them to get early access to our platform.”
Meanwhile, the business is also in the process of signing its first major national client with an estimated contract value of AU$2m in the first year alone.
“Early competition is emerging from a global perspective, however, we have a unique perspective to the problem we want to solve, which has resulted in great early traction,” says Dreifuss.
“Over the next 12 to 24 months, we are making plans to expand our business to New Zealand and enter the Asia Pacific market through Singapore by September 2022.
“We want to capture a 1% share of the total Asia Pacific construction tech market – a USD$1 billion target.”
- Sync Technologies was built with and invested in by Antler, the world’s largest early-stage investment platform.
- If you want to build your next company with Antler, applications for the next cohort can be made here. Or come along to their upcoming Demo Day on November 19 to see this team and another 15 startups pitch their businesses to investors across the world. Register for the virtual event here
