Collaboration to drive digital transformation of the construction industry
DUBLIN and ANN ARBOR, MI, Jan. 18, 2018 /CNW/ -
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 says, "For manufacturers of building systems and solutions, digitalisation enabled by technologies like BIM is a game
changer. At Kingspan, we aim to leverage digital technologies to further align our offerings with our customer's needs and more
efficiently collaborate with owners, designers, and contractors at every stage of the building lifecycle."
Invicara currently provides a cloud-based data management solution that helps owners and their design and construction
partners create a data-rich digital twin of a building, leveraging Building Information Modeling (BIM). BIM Assure, the first product built on the Invicara platform allows owners to access,
validate, and report on model data. The product is currently in use on key projects in North
America, Ireland, the United Kingdom, Australia, and Singapore. Invicara is rapidly expanding this solution with
significant new capabilities planned for release in 2018.
Invicara's reach to customers and markets will be enhanced through Kingspan's global presence in key market segments such as
airports, healthcare, data centers, and retail among others.
Anand Mecheri, CEO and Founder of Invicara notes, "Our relationship with Kingspan opens a new
market opportunity for Invicara - providing us with deep context to build powerful solutions on the Invicara platform, enabling
product manufacturers to participate in the digitalisation of construction. From the start, Invicara's vision has been to improve
the value derived from BIM for the entire ecosystem of the built environment - providing an efficient flow of reliable data for a
wide range of workflows."
About Invicara
Invicara is a cloud platform for managing building information. The company's vision is a smarter industry that uses richer,
more accurate information to drive efficiency for the entire ecosystem of the built environment. The company's first
product is BIM Assure, a cloud solution that helps the entire project team collaborate to improve data quality in BIM models.
About Kingspan
Kingspan is the global leader in high performance insulation and building envelopes. Kingspan differentiates itself through its
relentless development of innovative and patent-protected proprietary technology. Kingspan helps its customers to build in an
energy efficient manner that both reduces running costs and also meets environmental regulations and greenhouse gas emissions
targets. Improving building performance, construction methods and ultimately people's lives, is what drives Kingspan forward
around the world.
SOURCE Kingspan
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