AN speaks with Jesse Devitte, co-founder of Borealis Ventures, an early stage venture capital firm geared toward the AEC industry, about the new wave of startups in the industry.
By Robert Nieminen
There’s a perfect storm brewing in the AEC industry with respect to technology, and startup tech companies are stoked because the waves are finally rolling in.
A number of factors are contributing to the sudden surge. An increasingly urban population along with a changing climate is placing unprecedented pressure on the built environment, according to Jesse Devitte, co-founder of Borealis Ventures, an early stage venture capital firm geared toward the AEC industry. Fortunately, mobile devices, cloud computing, and endless sensors capturing data have reached near-ubiquitous status just as a slew of game-changing technologies such as BIM, AR/VR, and Blockchain are arriving, he notes.
“It really does feel like the industry is at a unique moment in time,” Devitte said. “I can tell you one thing for certain: in my three decades of involvement in AEC software I have never seen so much activity. In fact, I wake up to a new startup in my email every single morning, seven days a week.”
As a veteran who was part of Autodesk’s former Softdesk team and who organized the company’s AEC business unit, Devitte is well versed in venture capital. Upon leaving Autodesk, he co-founded Borealis Ventures to support the next generation of software entrepreneurs. “Today, we are focused on overcoming the traditional fragmented and resulting industry inefficiency by backing startups focused on driving data across the entire building lifecycle,” he explained.
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