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BeamUP, an Israeli startup creating digital twins for corporate building management, has launched with a $15 million seed investment round led by Israel-based StageOne Ventures and US-based Ibex Investors and including prominent angels such as Workday CEO Chano Fernandez. The company generates digital models of facilities to reduce design time for systems and infrastructure. This simplifies work around security, IT, IoT, electricity and HVAC, which account for approximately 40% of construction costs.
The company focused on reducing the complexity of generating a high-precision initial digital twin and accurately updating and maintaining them over time. The tools can also help reduce the work involved in planning redesigns, compliance changes, extended use, and ongoing maintenance and management.
The company was founded by Stephane Levy, who has an extensive entrepreneurial background in the construction and real estate industries. He started BeamUP to address the challenges he faced related to lack of understanding of facility performance, slow and manual design process and disjointed, localized document storage resulting in compliance breaches, lost data and wasted data sources.
Facilities management teams typically manage more than 30% of the world’s commercial real estate square footage (currently 16.5 billion square feet of real estate in the United States) and are unique for their global scale, compliance and cybersecurity needs, critical risks of downtime and the need to standardization.
But teams have typically managed these facilities using locally stored PDFs and spreadsheets, making it difficult for executives to understand what assets they have in each building and where they are located, let alone whether they meet regional building codes or comply. ESG goals. BeamUP provides an innovative approach to designing and managing these global surveillance systems and actionable data to control costs, reduce risk, and ensure compliance, security and sustainability.
BeamUP uses AI to simplify data management aspects of facility design and streamline integration into applications such as AWS IoT TwinMaker. The company provides an end-to-end lifecycle management platform – from design to maintenance and operation. This can help generate analytical insights into performance, compliance and efficiency. For example, executives can quickly assess which building types have the most compliance issues, differences in energy consumption between regions, and connectivity between device types and failure rates.
“Our cloud platform creates a network of an organization’s digital twin buildings, taking the enterprise beyond managing each of their facilities as a separate, isolated entity,” said Stephane Levy, CEO and founder of BeamUP. Once all the dots are connected to structured and accessible macro-level data, the platform provides analytical insights into performance, compliance and efficiency.
Automating context with AI
BuildUP has also developed tools to convert 2D floor plans into 3D models using AI and ML technology. This is important because most building data is stored as 2D floor plans and lacks structured semantic data and context. The tools also automate the infrastructure design and simulation process to improve security, electrical and HVAC systems. These tools also simplify continuous updates to the twin as buildings evolve due to routine maintenance, renovations, upgrades and changing requirements. In addition, a compliance engine automatically assesses the systems, infrastructure, and assets within the twin for compliance with enterprise internal standards, along with codes and regulations.
The tool supports popular formats including RVT and IRF for BIM data, DWG for CAD and PDF formats converted to semantically rich models using AI and ML models.
“BeamUP’s twins integrate into an enterprise’s design, build and operation workflows that are historically linear, static and disjointed,” Levy said.
While it is widely recognized that legacy processes are unsustainable, some people in the industry fear that new methods may pose even greater risks. The company focuses on technology companies that are not only willing to make changes, but are also actively looking for new technology and processes.
Competitors include companies such as Avvir, Swapp, SiteAware, Buildots, OnSiteIQ, OpenSpace, and Indus.ai. Levy says a key differentiator is support for enterprise customers’ complete end-to-end design and management requirements.
The company has also focused on working with enterprises to capture a unique dataset of enterprise maps for AI training, which are hard to come by. BuildUP has already captured hundreds of thousands of live floor plans.
The company is also developing graphical databases of design and facility data to train AI models using graphical neural network models (GNN). “This is a great asset for enterprises as it goes beyond rules-based design and compliance standards that are challenging to document and maintain over time,” said Levy.
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This post BeamUP Attracts $15 Million for Facility Digital Twins
was original published at “https://venturebeat.com/2022/04/01/beamup-attracts-15m-for-facilities-digital-twins/”