Kingspan invests in BIM company
January 19, 2018 – Kingspan Group is investing US$10m (£7.2m) in US-based software business Invacara.
Invicara has developed systems that integrate with building information modelling (BIM) technology. Kingspan said that, with the investment in the company, it has made a definitive commitment to the development of a solution for digitalisation of the construction industry.
Invicara will work with Kingspan to use its cloud-based platform to build a new system that uses design and construction data to create new digital workflows designed to transform the customer experience.
Kingspan is investing the US$10m in a minority stake in Invicara. Kingspan’s director of digital and brand Louise Foody and head of innovation Mike Stensonwill join the Invicara board of directors.
Foody said: “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.”
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 projects in North America, Ireland, the UK, Australia, and Singapore. New capabilities are planned for release in 2018.
Invicara CEO and founder said: “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.”