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UK-based proptech business raises funds to improve safety.
In an interesting and timely development in alignment with Modern Methods of Construction (MMC) principles, a proptech business, whose software could help improve building safety, has raised £250,000 (AUD $440K) (from NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund.
The funding will enable Hull-based Bimsense to further enhance its platform before the introduction of new rules to improve the safety of high-rise buildings.
The UK Government’s Building Safety Bill (A Bill to make provision about the safety of people in or about buildings and the standard of buildings), which is expected to become law within the next few months, will oblige building owners to ensure safety is considered at every stage, from design to construction and occupation.
Bimsense’s “Operance” product enables owners and contractors to access up-to-date and accurate digital building information, providing a better understanding of a building to help ensure safety and improve efficiency throughout its entire life cycle.
The software, which incorporates blockchain technology, produces a secure audit trail and aims to comply with the Government’s ‘golden thread’ requirements.
Bimsense, a specialist in building information modelling (BIM) which generates digital representations of buildings, was founded in 2016 by Ian Yeo and Scott Pilgrim, who have both advised on major developments throughout the UK and internationally.
The software is already used by a number of well-known industry names.
Along with further enhancements to the software platform, the latest investment will also enable the company to create four new jobs in Hull.
Yeo, CEO at Bimsense, said: “The recent issues regarding cladding have highlighted the need for greater knowledge about individual buildings and a way to track their history.
“By providing a modern ‘operations and maintenance manual’, Operance will play a key role in helping owners to comply with the rules and improve safety.
“The initial NPIF funding helped us to bring the software to market and the latest round will enable us to take it to the next level.”
Maurice Disasi, investment associate at Mercia, said: “The construction sector has been slow to adopt digital technology to date.
“However, there is now growing awareness of the potential it offers to improve efficiency and safety and we expect the new Building Safety Bill will further drive uptake. This latest funding will allow Bimsense to further enhance the product and build its client base.”
See: bimsense.co.uk
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