Momentum Builds for Automation in Construction
CRETech
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1 minute read
Investors including Goldman Sachs Group Inc. are pouring money into construction startups, betting that the industry is on the verge of sweeping changes.
The money could jumpstart automation in a highly labor-intensive business that has been a rare source of well-paying blue-collar jobs over the past decade.
Venture investment in private construction-technology companies leaped to $6.1 billion in 2018, from $352.1 million in 2016, according to research company CREtech. With $4.3 billion invested as of late June, 2019 is on track to be another record year.