LivSYT’s AI, ML Revolution in Construction Management

08 Nov 2023 CW Team

With this infusion of capital, the company is well-positioned to capitalise on the tremendous growth potential in the global construction industry. The company’s robust software solutions have already contributed to impressive annual recurring revenue of $1 million with infrastructure projects worth a remarkable $6 billion already using their software.

Commenting on the successful fundraise, Karthik Thumu, CEO, LivSYT, said, "This investment is a testament to the value our software brings to the construction industry. We are excited to embark on this new journey, leveraging the expertise and support of our investors to further our mission of transforming construction management."

The funds will primarily be used to support expansion of the company’s presence in the US market. It will also invest in development of its current product infrastructure to explore new use-cases in construction management. Brajesh Bhanj Deo, CFO, said, “LivSYT wants to achieve $5 million in annual recurring revenue within the next 24 months.”

The construction industry is embracing technology and innovation as key drivers of performance enhancement. The global construction market reached a value of $13.57 trillion in 2023, driven by increasing investments in infrastructure projects worldwide, accompanied by a growing reliance on mobile platforms and AI to improve project efficiency and safety.

LivSYT has identified a unique opportunity in the heavy infrastructure sector, where technology solutions have been limited. As the construction industry increasingly values integrated Project Management Information Systems (PMIS), advanced data analytics and modular or off-site manufacturing, it is poised to cater to the sector's evolving needs.

India's construction industry is experiencing remarkable growth with a 6.3 per cent annual growth projection between 2024 and 2027. The Indian government's ambitious Pradhan Mantri Gati Shakti Master Plan is expected to drive significant investment in transportation, electricity and housing projects.

In the United States, the construction industry is set to witness a 5.9 per cent increase in construction deliveries in 2023, according to JLL. Non-residential construction inputs in the US and Canada have exceeded historical rates, presenting a substantial opportunity for LivSYT's services.

LivSYT boasts an impressive portfolio of clients, including Systra, DRA and Elemental Realty , some of the largest consulting and engineering firms, world leaders in public transport infrastructure engineering and India's fastest-growing large construction companies.

LivSYT, on-site construction management software envisioned by professionals from IIT and NICMAR, offers a cloud-based software solution for on-site inefficiencies to achieve faster construction project completion, maximisation of productivity and profits with the same or lesser resources.

With its expansion into the US market and focus on AI/ML advancements, the company is poised to make significant contributions to the construction industry's digital transformation.

LivSYT, a leading provider of SaaS-based construction management software successfully raised $2.5 million in its seed round of funding, making a total fund rise of $4.5 million till date. The investment comes from SV Quad and Inventus Capital based out of USA, setting the stage for LivSYT's expansion into the US market and its exploration of new AI/ML use-cases.With this infusion of capital, the company is well-positioned to capitalise on the tremendous growth potential in the global construction industry. The company’s robust software solutions have already contributed to impressive annual recurring revenue of $1 million with infrastructure projects worth a remarkable $6 billion already using their software.Commenting on the successful fundraise, Karthik Thumu, CEO, LivSYT, said, This investment is a testament to the value our software brings to the construction industry. We are excited to embark on this new journey, leveraging the expertise and support of our investors to further our mission of transforming construction management.The funds will primarily be used to support expansion of the company’s presence in the US market. It will also invest in development of its current product infrastructure to explore new use-cases in construction management. Brajesh Bhanj Deo, CFO, said, “LivSYT wants to achieve $5 million in annual recurring revenue within the next 24 months.”The construction industry is embracing technology and innovation as key drivers of performance enhancement. The global construction market reached a value of $13.57 trillion in 2023, driven by increasing investments in infrastructure projects worldwide, accompanied by a growing reliance on mobile platforms and AI to improve project efficiency and safety.LivSYT has identified a unique opportunity in the heavy infrastructure sector, where technology solutions have been limited. As the construction industry increasingly values integrated Project Management Information Systems (PMIS), advanced data analytics and modular or off-site manufacturing, it is poised to cater to the sector's evolving needs.India's construction industry is experiencing remarkable growth with a 6.3 per cent annual growth projection between 2024 and 2027. The Indian government's ambitious Pradhan Mantri Gati Shakti Master Plan is expected to drive significant investment in transportation, electricity and housing projects.In the United States, the construction industry is set to witness a 5.9 per cent increase in construction deliveries in 2023, according to JLL. Non-residential construction inputs in the US and Canada have exceeded historical rates, presenting a substantial opportunity for LivSYT's services.LivSYT boasts an impressive portfolio of clients, including Systra, DRA and Elemental Realty , some of the largest consulting and engineering firms, world leaders in public transport infrastructure engineering and India's fastest-growing large construction companies. LivSYT, on-site construction management software envisioned by professionals from IIT and NICMAR, offers a cloud-based software solution for on-site inefficiencies to achieve faster construction project completion, maximisation of productivity and profits with the same or lesser resources. With its expansion into the US market and focus on AI/ML advancements, the company is poised to make significant contributions to the construction industry's digital transformation.