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Chiratae Ventures leads $3.2 mn round in HUVIAiR

By Kaushiki Chatterjee

  • 18 Jan 2022
Chiratae Ventures leads $3.2 mn round in HUVIAiR
Credit: 123RF.com

HUVIAiR Technologies said it has secured $3.2 million (around Rs 23 crore) as a part of its Series A funding led by Chiratae Ventures. 

The round also saw participation from SOSV, RMZ Management LLP and Artesian Venture Partners

The Bangalore-headquartered platform  plans to use the fresh capital for new hirings, roll out fresh product features, add more customers in India and a few strategic markets overseas, including the US. 

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Founded by Vikshut Mundkur and Arjun Janananda, HUVIAiR offers remote monitoring and management software for construction projects. 

“Our deep-learning engine can analyse and derive invaluable insights from multiple visual input-streams. This engine is enabling exciting use-cases such as topography and volumetric analysis, remote construction monitoring, virtual site-walkthroughs, artificial intelligence-generated progress reports, snag management and many more," said Arjun Janananda, Co-Founder of HUVIAiR. 

Their flagship software-as-a-service platform CONSTRA, derives insights from images and videos to help through the planning, building and inspection stages of construction projects. 

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According to the firm’s statement, CONSTRA helps companies to save up to 65% of the time on progress monitoring, reduce their supervisory manpower requirement by at least 50% and reduce the overall project cost by up to 20%. 

“Technology adoption and disruption in the construction industry has been nascent at best previously. COVID-19 has accelerated the need for a digital-first approach many-fold and it has become critical to re-think business operations," said TCM Sundaram, Founder and Vice Chairman at Chiratae Ventures

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