Collaboration to drive digital transformation of the construction industry
Kingspan Group plc
today announced a $10 million investment in Invicara
, a provider of transformative software solutions for the entire ecosystem of the built environment. With this investment, Kingspan has made a definitive commitment to the development of a solution for digitalisation of the construction industry.
Invicara has developed solutions that integrate with Building Information Modelling (BIM) technology. BIM provides detailed digital representations of buildings, allowing time and cost saving collaboration between partners on construction projects such as architects, engineers, contractors, and owners.
Working with Kingspan, Invicara will use its cloud-based platform to build a new solution that uses design and construction data to create new digital workflows that transform the customer experience. Kingspan is investing $10m in a minority stake in Invicara, and Louise Foody, Kingspan’s Director of Digital and Brand, and Mike Stenson, Head of Innovation at Kingspan, will join the Invicara Board of Directors.
Foody comments that: