UK startup XYZ Reality has earned £20 million in Series A fundraising in a massive push to boost the nation’s construction market, Sifted reported on Monday.
The London-based firm is developing an AR helmet which projects 3D holographic content, including blueprints and schematics, to allow builders precise positioning of objects of up to 5mm in accuracy.
The project aims to save massive costs of roughly 11 percent for construction companies, namely due to problems between building sketches and finalised projects, the company said as cited by Sifted.
Figures in the report found the UK loses from £10 billion to £25 billion due to construction errors.
David Mitchell, Founder and CEO of XYZ Reality, told Sifted: “Augmented reality and spatial computing just make sense, because we’re 3D creatures operating in a 3D environment.”
The report added the European construction industry has been moving towards virtual and augmented reality (VR/AR) solutions despite lagging in its adoption of digital solutions.
XR Today reported in May on a recent partnership between Anarky Labs and Flyby Guys, who revealed their AirHUD AR solution set for use for industrial firms globally. The drones couple DJI drones along with Microsoft’s HoloLens 2 updates on telemetry, GPS, and vitals.
Drones from the Helsinki-based tech startup will take to the skies in cities to facilitate city planning, recovery efforts, street management, and building site inspections.
AR headset firm RealWear had also partnered with global consultancy and construction firm Mace Group to deploy 150 of its HMT-1 wearables for the firm’s construction projects, leading to a drastic reduction in COVID-19 cases, as well as cutting carbon output by roughly 75 percent.
