London, United Kingdom Sep 17, 2021 (Issuewire.com) - Backed by Alibaba Hong Kong Entrepreneurs Fund, Artesian Ventures, and ParticleX with 2 million USD of seed funding, viAct continues to bring real-time processing control in the construction sites by utilizing the cognitive ability of AI. viAct has currently expanded its reach from ConTech to PropTech with an extended aim to monitor a construction project from “the first brick to the last breath”. Through simple but sophisticated, unique algorithms based, plug & play pre-built AI modules; viAct has made deployment extremely intuitive in any construction site by any individual even without dexterity in AI. Moreover, viAct’s smart cloud adds more adequation to the AI-powered construction sites by ensuring well-calculated planning for faster progress and alleviated productivity. By giving remote access to every associated stakeholder, viAct also makes the construction process a transparent flow in terms of information regarding non-compliances which otherwise become the antecedent for both safety and productivity compromises in long run. Therefore, by creating a holistic construction monitoring ecosystem, viAct is bringing a revolution in that sector of the market which is popular for fatal accidents, opaque workflow, and environmental non-compliances to even enhance the ESG ranking of the construction business. viAct with its “super cognitive” AI modules makes a construction site 10X more “smarter” in gleaning various safety, productivity, and environmental compliances related issues in real-time, thereby making the oldest profession of mankind a safer business.
Exponential Growth Post COVID-19
The last 1 year has been quite crucial as viAct has achieved many milestones. In terms of technology advancements, the following has been achieved:
- viAct has become the first Asian AI company to integrate with Autodesk BIM 360 which is the world’s leading construction cloud thereby boosting its operations further
- viAct published its first research paper viz. Artificial Intelligence-powered Dump Truck Smart Management System: Case Study by viAct in ResearchGate and International Journal of Advances in Engineering and Management (IJAEM)
- viAct has developed 30+ modules specified modules for construction sectors extending its operational radius from construction safety and productivity to environmental compliances
Furthermore, in terms of financial milestones, viAct’s AI monitoring solution has covered 50 construction projects with a contract sum of over USD 10B across Asia.
In terms of awards and reorganization, the last year has been quite thrilling for viAct. The achievements are as follows:
- The company has been awarded amongst the Top 50 ConTech startups in 2020 by Cemex Ventures for delivering new, innovative, and attractive solutions to the construction industry.
- viAct has received the award for being the Top 100 Global ConTech Startups 2019 by BuiltWorld for its exceptional work in revolutionizing construction industries with the power of AI in a scenario-based approach to mitigate the issue of job-site related accidents and productivity compromises.
- viAct has been selected as the consulting partner of Huawei Cloud and the top 5 companies joined the Huawei Spark Program.
In January 2020, in the early days of the COVID-19 pandemic in Asia; viAct was the first Asian company to implement a face-to-face solution for construction sites. This was recognized in the mainstream and the Chinaccelerator executive director Oscar Ramos said: “COVID has accelerated digital transformation, and traditional industries such as construction are undergoing a rapid transition process that is critical to survival. The viAct team has not only created a profit-driven product in the industry but has also been able to gain the trust of their customers and speed up acceptance.”
Thus, multiple operational advancements, as well as the last 1 year, have been noteworthy in terms of both growths, productivity.
Plans to Foray into the UK
For the upcoming 1 year, viAct is focusing to expand its reach of business from Asia to European countries with a primarily targeted destination of London. The foresight is to establish offices for local employees working in sales & marketing as well as technical departments also for the purpose of a partnership alliance. Belonging to a technology-oriented ecosystem, viAct is planning to persistently invest in R&D to reinforce the technical stack and deep dive into various elemental issues existing in the construction site using AI-powered cognitive technologies. This will help in broadening the application research on state-of-the-art AI, machine learning, and deep learning algorithms.
Apart from this, viAct is targeting the next round of fundraising which is expected to be carried out by the first quarter of 2022. This will mushroom the brand to achieve the aforementioned plans and help in making it a fast-growing AI Company specialized in construction and engineering. viAct, therefore, has a mission to become the UK’s Leading Construction AI Company with the aim to penetrate its AI monitoring services from hundreds to thousands of construction projects in order to make construction industries a safer and productive place to work inside.
Media Contact
viAct baby.sharma@viact.ai +918742871475 118 Wai Yip St, Kwun Tong, Hong Kong https://www.viact.ai/
