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.