WakeCap, an Internet of Things (IoT) platform specialising in construction project management, has acquired an AI-powered project delivery platform Crews by Core.
Financial terms of the deal remain undisclosed.
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This move is set to create a comprehensive software as a service (SaaS) and IoT solution for managing construction mega projects.
With the acquisition, WakeCap aims to open a research and development (R&D) headquarters in Silicon Valley.
The move will integrate WakeCap’s connected worker, time and progress measurement, as well as safety incident prevention and management solutions with Crews by Core’s project delivery platform.
This will allow WakeCap to provide customers with immediate ways to quantify and mitigate jobsite inefficiencies.
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By GlobalDataWakeCap’s existing IoT network tracks people, equipment, and vehicles, as well as automates data collection on the job site.
It is said to save time and reduce labour costs by at least 20% while enhancing worker safety.
The new features to be added include lookahead scheduling, communication, and financial risk assessment and mitigation.
Commenting on Crews by Core CEO and founder Di-Ann Eisnor’s team, WakeCap CEO and founder Dr Hassan Albalawi said: “Di-Ann’s team has incredible knowledge and deep technical skill. We’re thrilled to bring the two companies together.
“Their team is world-class and has built some of the most important companies in Silicon Valley, including PayPal, Waze, Google Chrome, and Palantir. They know how to scale technology platforms.”
The technologies from both companies have been deployed across large sites and megaprojects in the US, Saudi Arabia, the UAE, and Japan, managing millions of hours of labour each year.
These customers include Saudi Aramco, Jeddah Central Development, Kajima, Takenaka, and Apex Building Group.
This announcement comes after, WakeCap’s partnership agreement with EarthCam, a provider of construction camera solutions, in May.
