Top startups moving the dial in the construction industry

Emerging ConstructionTech startups and some of the country’s largest building companies came together this week as part of an Innovation Mission exploring the role startups can play in lifting productivity in the construction industry.

LaunchVic Chair Leigh Jasper, who sold ConstructionTech Aconex to US software giant Oracle for $1.6 billion in 2017, said a key challenge for the sector’s next phase of growth was procurement, especially from the big players contracted to deliver major projects in Victoria.

“Navigating procurement as an early-stage company has been notoriously difficult in Victoria,” Mr Jasper said.

“More must be done to raise the profile of the incredible technology being developed in the state and ensure founders have the know-how to find and win tenders that could be the making of their business.”

The mission focused on bridging the gap by connecting 14 emerging startups with leaders like John Holland, Arup, Transurbun and Aurecon.

Participating startups included Matrak, global construction tracking network breaking the “Blame-Game” cycle synonymous with the construction industry when things go wrong.

The startup was founded in 2017 by Melbourne brothers Shane and Brett Hodgkins after experiencing the chaos of manually tracking and managing materials while working at their dad’s facade installation company.

In 2021, Matrak closed out a $5.85M Series A round which included Jasper and Aconex Co-Founder Rob Phillpot alongside many current & former executives from prestigious Australian construction companies.

Today, Matrak is used on more than 140 projects across Australia, the United Kingdom, the United States, Hong Kong, Macau, China and Thailand.