Montreal, February 6, 2020 – Mechasys today announces a $700,000 (USD) SAFE investment, led by New Stack Ventures with participation from SOSV. This funding will be used to propel the company through the final phase of its product development and eventually, to launch by the end of 2020.
“The ability to track progress, modify construction drawings and share changes in real time is a game changer. We’re very happy to be partnered with these two investors heading into the next phase of our growth” said William St-Pierre, CEO at Mechasys. “These partners will help ensure that our company is built to scale rapidly once our product hits the market. With their help, we move closer to our objective of helping contractors solve their problems.”
The new product, FramR, enables builders and contractors to do their on-site layout 5 times faster, while eliminating the risk of human error. During construction of a building, the positioning of materials is critical and complex. Before installing walls, plumbing or tiles, builders must visualize the environment and trace their layout on the concrete slab. This tracing step is carried out using the construction plan, a measuring tape, and chalk lines. “FramR”, puts an end to this tedious and costly process.
“After analysis of the construction industry, we concluded that now was the time to support a range of new services in order to better respond to evolving needs industry “, added Cyril Ebersweiler, General Partner at SOSV. “The days of the old-fashioned marking process are over. Mechasys is about to delight generations of construction professionals”.
Classical positioning tools no longer reflect the industry’s needs and often require changes. Mechasys believes it is much simpler to eliminate this marking entirely. Instead, we use a laser to project plans directly on the job site. Our technology is accurate within 3mm. Thus optimizing productivity, reducing errors and accelerating progress on every project
“The construction industry has been slow to adopt new technologies. The problems are real and the opportunities are significant. Mechasys has worked closely with customers to create the optimal solution. Customer enthusiasm is high and we feel very fortunate to support this amazing team.” Nick Moran, Managing Partner at New Stack Ventures.
About Mechasys: An entrepreneurial team of engineers developed an innovative laser positioning technology which projects construction drawings on floors with an accuracy of 3 mm. With this system, workers no longer need to draw building plans on construction sites. This saves time, increases productivity, reduce risk of human error and simplifies workflow.
About New Stack Ventures: an early-stage venture firm specializing in novel hardware and IoT technology. New Stack invests out of a fund and also leads the largest Angel syndicate in the Midwest; a group of over 900 angels co-invest in their deals.
About SOSV: a venture capital firm with $700M AUM operating global accelerator programs: HAX (Shenzhen/San Francisco) for hardware, IndieBio (San Francisco/NYC) for life sciences, Chinaccelerator (Shanghai) and MOX (Taipei) for cross-border internet, Food-X (NYC) for the business of food, and Dlab (NYC) for blockchain technology. SOSV invests in over 150 companies per year and its two-decade track record puts it in the top 10% of VC funds in the world
Mechasys Media Contact
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