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Construction tech Ackcio raises pre-Series A funds from Wavemaker and angel investor

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ACKCIO, a startup that provides wireless-monitoring solutions for industrial uses, has raised an undisclosed amount of pre-Series A capital, co-led by venture firm Wavemaker Partners and Michael Gryseels, the president of True Digital Corpo, a unit of Thai communications giant True Corp. Read more at The Business Times.

In Singapore, Ackcio’s solutions have been deployed in infrastructure projects such as the Thomson-East Coast MRT line and the Bedok Canal expansion. The firm was recently awarded a contract for a new infrastructure project in Changi Airport.

With the onset of the pandemic, construction and mining projects all over the world have had to rely less on manpower onsite. As a result, contractors are now increasingly adopting more automated solutions for their monitoring work, and using less manpower. Dr Baranasuriya said: “In post-pandemic times, we are seeing a sticky increase in demand for our technology, which allows contractors to monitor their projects in real-time without depending on manpower availability.”

Paul Santos, managing partner of Wavemaker Partners, added: “Ackcio has always been about affordable and reliable wireless mesh solutions that will not fail in harsh conditions… We're proud of their progress and excited to see even more organisations around the world adopt Ackcio's technology.”For daily updates on weekdays and specially selected content for the weekend. Subscribe to

 

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