US-based SaaS artificial intelligence (AI) startup, Kwant AI raised $3.9 million via investments from LAUNCH, Fairstead, Pearl Fund, 7BC Venture Capital, Forefront Ventures, Martinson ventures, and Serra Ventures. Kwant AI will leverage the fund to expand its business through customer expansion, platform expansion, and recruitment process. Kwant AI saves lives while increasing operational efficiency by more than 15%, saving the construction sector millions of dollars.
John Jurewicz, Head of Innovation, Walbridge Construction, commented, “As a safety and productivity platform, when you look at the other options in the market, Kwant is best in class for our large-scale projects. Our value realized has been through avoiding job sites shutdowns due to variants of the safety incidents and the pandemic, gaining a more precise understanding of the exact time and duration of exposures, evacuation, and rescue as well as tracking high-value assets and equipment utilization. The area this system excels at is faster response times, accuracy, dashboard customization, and their badges are ‘Made in America’ which improves the certainty that deliveries are made on time.”
For project sites in construction, mining, manufacturing, and critical infrastructure where workers, materials, and equipment are frequently monitored, the Kwant system deploys smart-wearable badges and equipment trackers. Deep learning is used to accurately place personnel and assets in x, y, and z coordinates, and artificial intelligence is used by Kwant AI to organize unstructured data. Kwant AI collects real-time data, performs predictive analytics for high risk, and gives daily notifications using low-power sensors with extended battery life. The network can communicate in any direction and can pierce building materials and can cover up to 15 miles.
Tyler McIntyre, Managing Partner, Design and Construction, at Fairstead, stated “Leveraging the Kwant AI platform helped us improve tracking and efficiency for a complex project in the middle of a pandemic. It is a best-in-class technology we are excited about deploying at future sites. With on-hand capital and a diverse set of properties, Fairstead can invest in the latest tech solutions to move our industry forward”
Kwant AI is making several high-profile projects, assisting in the prevention of construction delays and, more crucially, worker safety. Kwant AI recently aided in the prevention of tragic accidents. Proactive warnings and data-driven insights helped Malbro Construction enhance productivity by 11%.