The Propcast: Reality Capture, AI & Analytics In Construction Technology

Reality Capture, AI & Analytics In Construction Technology

Mar 14, 2023

In the fifth episode of Season 11 of the Propcast, host Louisa Dickins is joined by Jeevan Kalanithi, CEO at OpenSpace and Parker Mundt, Vice President of Platform at Suffolk Technologies.

Episode Highlights:

OpenSpace’s founding story
How Jeevan and Parker initially met and started working together
The concept behind Suffolk Technologies and the companies they invest into
Open Space’s two products and the difference between them
How OpenSpace overcame the challenges when scaling their products
The broad challenges Parker sees startups facing with new products
How product trends change based on geographical locations
Parker’s investment predictions for 2023-24
Current macro trends and what this will mean for those ready to innovate and be tech forward
The firms involved in the Suffolk Boost Accelerator Program
Companies that are creating innovative solutions for sustainability
What steps Open Space are taking to reduce the ‘eight waste’ on construction sites

Resources:

Shout outs:

Key Takeaways:

They started a company and sold it, and sure enough, they were working on a capture technology with these new 360 cameras. When I heard about it, I was like, you know, who could really use this? Building. - Jeevan

Suffolk has trialled over 180 different tech solutions. We pride ourselves in being a very forward thinking general contractor who has a deep desire to innovate within the construction space. - Parker
We’re building more and more stuff upon that. It all works because we have a simple capture product and I think we've captured something like 12 billion square feet, some big number. So it's a lot of data that allows us to make the system smarter and more useful for our customers. - Jeevan
I think today we see a lot of companies that come in and maybe are naive or maybe just a bit out of touch with what some of the tech solutions in construction in particular would charge. And that can be a showstopper immediately, because the folks that you're selling to are still very focused on price and schedule, right? Those are the two main drivers in the construction industry. - Parker
For us we're really focused on making sure that the founders feel comfortable at the valuation that they're at and not necessarily pumping it up just for the sake of having a larger valuation. - Parker
We're at an innovate or die kind of portion of the life cycle right now where folks who are tech forward and are looking to see how they can do things better, faster, cheaper, safer, you know, those folks will emerge as the industry leaders, as a general contractor. - Parker
We really prioritise reliability and speed and efficiency with our technology and we hope that allows our builder customers to do the same. - Jeevan

About Our Host

Louisa Dickins

Louisa is the co-founder of LMRE, which has rapidly become the market leading global PropTech recruitment platform and search consultancy with operations across North America, United Kingdom, Europe and Asia-Pacific.

To promote the industry she is so passionate about, Louisa set up the Global podcast ‘The Propcast’ where she hosts and invites guests from the built environment space to join her in conversation about innovation.

About LMRE

LMRE is globally recognised for leading the way in Real Estate Tech & Innovation talent management.

From the outset our vision was to become a global provider of the very best strategic talent to the most innovative organisations in PropTech, ConTech, Smart Buildings, ESG, Sustainability and Strategic Consulting.

At LMRE we are fully committed at all times to exceed the expectations of our candidates and clients by providing the very best advice and by unlocking exclusive opportunities across our global network in the UK, Europe, North America and Asia-Pacific.