Genda Wins $300,000 Grant for Automating Construction Management
Construction Management focused Israeli company, Genda, expands development effort of novel construction resource tracking software.
Tel Aviv, Israel – Genda, an Israeli construction management company focused on developing solutions and applications to provide real time construction site visibility, has received a $300,000 grant from the Israel Innovation Authority for the purposes of further developing its current software solution with new features.
The Authority’s grant funds will be used to scaleup Genda’s business in the US market. “We appreciate greatly the support of the Israel Innovation Authority. The grant will support the growth of the company in the US and allow us to execute our projects with General Contractors in Texas, New York and Virginia, among other states”, said Erez Dror, CEO of Genda. “This support will accelerate the integration of Genda’s solution at construction sites and improve the users’ experiences and the value for our clients”. Genda automates construction workflow management by generating and analyzing real-time project data. The company’s solution streamlines data from the production floor to the management team, thus driving efficiency and personnel safety. Daily processes like reporting safety issues, requesting materials and call for a lift are digitized to improve the workers’ experience while production data is analyzed to identify bottlenecks and automatically identify safety hazards.
The software has also been particularly well received in the market during the COVID19 pandemic. Genda added social distancing alerts to its solution. This allows the managers at construction sites to track interactions, meet regulations and protects the workers’ health while continuing the building process.
The solution is currently being employed at several construction projects in the US and Israel. Real time constant data from construction sites, generates valuable insights for general contractors that allow them to save time, costs and build better buildings.
“The Israel Innovation Authority is a vital partner of our Israel-Colorado Innovation Fund (ICI Fund) supporting the scaleup and growth of Israeli companies in the U.S,” said Gili Elkin, General Partner at the ICI Fund. “We look forward to seeing the tremendous impact of Genda on the construction industry worldwide.”
Genda developed a system that automatically collects real time data at construction sites. Genda analyzes the data and provides real time actionable insights for general contractors that allow them to reduce construction time, reduce costs and build better buildings. https://www.gendatech.com/
About the Israel Innovation Authority:
The Israel Innovation Authority, responsible for the country’s innovation policy, is an independent and impartial public entity that operates for the benefit of the Israeli innovation ecosystem and Israeli economy. Its role is to nurture and develop Israeli innovation resources, while creating and strengthening the infrastructure and framework needed to support the entire knowledge industry. The Israel Innovation Authority provides a variety of practical tools and funding platforms aimed at addressing the dynamic and changing needs of the local and international innovation ecosystems. For more information, visit our site: www.innovationisrael.org.il/en
About Israel-Colorado Innovation Fund:
Israel – Colorado Innovation Fund is an early stage US venture capital fund leading investment rounds in ambitious Israeli entrepreneurs and supporting them in accessing industries in the United States. Innosphere Ventures, Colorado’s leading technology incubator is a partner at ICI Fund and supports the scale up of Israeli companies in the US market. The Fund was formed to commercialize cutting edge technologies from Israel in Colorado (among other states) creating high quality jobs. https://www.ici.fund/
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