Story Of A Modular Construction Startup That Burned Through £10M in 15 Months - Chris Spiceley
What could go so wrong that a £10M modular construction startup collapsed in just 15 months?
In this episode, we had Chris Spiceley and we got to learn about his experience working at Modulous, a modular construction startup that went from raising £10M to liquidation in just 15 months.
Chris shares valuable insights on what went wrong, lessons learned, and advice for anyone building a construction tech startup.
Tune in to find out about:
✅ The challenges of delivering modular projects in the UK
✅ Key factors that contributed to Modulus' downfall
✅ The personal impact on employees when a startup fails
✅ Chris' thoughts on the future of industrialized construction
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This episode is brought to you by Shft—helping contractors like you leverage BIM to secure a leading position in the race towards construction’s digital future.
Visit: https://maketheshft.digital
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BuildVision is a procurement network for the $5T commercial construction market. We are transforming the commercial construction supply chain by bringing contractors, manufacturers, and project stakeholders onto a single software platform—revolutionizing how every component is sourced, purchased, and financed.
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Timestamps:
(00:00 - 02:50) - Intro To Our Sponsors & Guest
(02:50 - 07:59) - How Chris Made A Transition Into Tech
(07:59 - 21:54) - About Industrialized Construction and MMCs In UK
(21:54 - 28:41) - Chris's experience working at Modulous
(28:41 - 31:54) - Premature Decision Made By Modulous To Expand In US
(31:54 - 43:00) - Challenges That Comes With Pilot Projects
(43:00 - 58:21) - Economics Of The Idea That Modulous Had
(58:21 - 01:07:00) - Key Lessons Learnt By Chris
(01:07:00 - 01:16:09) - Understanding Chris's Perspective On Offsite Manufacturing
(01:16:09 - 01:16:50) - Outro
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Bricks & Bytes
BBBC 18/05 - Big Tech Investing Billions in Renewable Energy, Quality Content in Construction Tech & Data Centers As The New Frontier in Energy Consumption
Discover how AI is transforming data centers and renewable energy, and how these changes are reshaping the construction industry.
This episode with Bhragan dives deep into the cutting-edge technologies and trends that are driving the future of construction tech.
From discussing the importance of quality over quantity in content creation to debating the significance of follower numbers, this conversation is packed with insights.
Join us as we also explore the impact of AI on energy consumption in data centers, the vital role of construction in tech adoption, and the challenges of implementing new technologies.
Takeaways
The rapid increase in data centers and AI technology is driving a significant need for renewable energy sources and optimized energy use.
Construction is essential for the integration of new technologies. Startups are addressing infrastructure bottlenecks by hiring project managers and civil engineers.
Quality content creation in the construction industry is vital for raising awareness and promoting technology solutions.
Owning distribution channels and building an audience through media can significantly lower customer acquisition costs and establish trust and credibility.
Don’t miss out on this essential podcast episode!
Chapter
00:00 Introduction and Overview
06:12 Construction's Role in Technology Adoption
08:59 Challenges of Implementing New Technology in Construction
15:22 The Power of Content Creation in Construction
21:41 Debating Follower Numbers vs. Engaged Audience
27:27 The Potential of Owning Distribution Channels
29:18 Monetization Strategies for Construction Tech Content
34:52 Challenges of Code Compliance for Sustainable Materials
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Bricks & Bytes
Automating 90% of Contract Reviews : Building AI to Solve a $13 Trillion Industry's Contract Challenges
"We're making contracting safe for our industry across the entire project lifecycle." - Josh Levy, Co-founder & CEO of Document Crunch
In today's episode of Bricks & Bytes, we had Josh Levy & Trent Miskelly from Document Crunch. We learned about their journey in building a document intelligence platform for the construction industry, the five best practices for contract compliance, and how they're automating critical processes to reduce risk on construction projects.
Tune in to find out about:
✅ How Document Crunch is solving the $13 trillion industry's contract compliance challenges
✅ The evolution from document intelligence to workflow automation in construction
✅ Why understanding contracts is crucial for preventing claims and project overruns
✅ How Document Crunch is pricing their services based on "jobs to be done"
Listen to the full episode on Spotify to hear how Document Crunch is revolutionizing contract management in construction and helping companies achieve best practices across the project lifecycle.
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Sign up to the #1 Newsletter In Construction Tech. Join over 1,000 like-minded Founders, Investors and Techies disrupting the way we build. Forever : https://bricks-bytes.beehiiv.com/subscribe
LinkedIn: https://www.linkedin.com/company/bricks-bytes/
X/Twitter: https://twitter.com/bricksbytespod
Youtube: https://www.youtube.com/channel/UCmNbunUTIIQDzbJgGJt9_Zg
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Chapters
04:41 Introduction and Background of Document Crunch
11:26 What is Document Crunch and the Problem it Solves
17:59 Customer Onboarding and ROI of Document Crunch
21:52 Pricing Model of Document Crunch
32:50 Evolution of Document Crunch's Product and Features
37:16 Automating Compliance with Generative AI
45:17 Becoming the Category Leader in Compliance Automation
50:53 Continuous Improvement with AI Advancements
52:49 Customers Pulling More Product Out of Document Crunch
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Bricks & Bytes
"From Seed to $10M Series A" - BuildVision's Procurement Platform & Growth Journey
"We make money when our customers make money"In today's episode of Bricks & Bytes, we had Mike Powers and Ben Lyddane from BuildVision who shared their journey of raising a $10M Series A led by Norwest Ventures.Their platform helps contractors procure mechanical and electrical equipment more efficiently, saving 20-30% on costs while creating new revenue streams for general contractors.Tune in to find out about:✅ How BuildVision grew from processing $700M to over $1B in equipment transactions✅ Their three-tiered pricing model that aligns with customer success✅ How AI costs for processing documents dropped from thousands to just $1.40 monthly✅ Why focusing on critical path items like chillers and generators (not commodity products) creates maximum value-----Chapters00:00 Intro00:05:35 Introduction and Series A Announcement00:08:25 Build Vision Overview and Product Development00:11:40 AI Integration in Procurement Solutions00:14:41 Revenue Models and Customer Success00:17:29 Growth and Future Projections00:20:43 Challenges in the Construction Industry00:23:35 Funding and Investor Relations00:26:40 Technological Challenges and Solutions00:29:28 Market Position and Competition00:40:07 Navigating Risk in Construction00:43:35 Building Strategic Partnerships00:46:29 Outcomes Over Products00:49:35 Challenges in the Buy-Sell Dynamic00:51:25 Impact of Tariffs on Construction00:55:30 Future of International Operations00:56:25 The State of Construction Tech01:06:21 Voice-Enabled Workflows and Future Prospects01:08:41 Acquisition Strategies and Market Positioning
OpenAI Turner Mega Deal, OpenSpace Buys Disperse, Government Shutdown Impact on Construction & Startup Valuation Truth Bombs
In this episode of Bricks, Bucks & Bytes, Owen, Martin, Patrick, and Dustin break down what happens when a fully remote startup brings everyone together IRL—plus two major construction tech deals that have everyone talking.Dustin opens up about Ediphi's first all-hands offsite (spoiler: his team didn't win the escape room), before the crew dives into the chaos of government shutdowns and what they actually mean for construction.Then things get spicy with the OpenAI x Turner deal that's got LinkedIn in a frenzy, and Jeevan from OpenSpace and Oli from Disperse join to talk about their recently announced acquisition.Topics covered:Why company offsites are worth every penny for remote teamsThe real cost of government shutdowns on construction projectsTurner's $30M OpenAI deal and what it means for GCsInside the OpenSpace + Disperse acquisitionThe uncomfortable truth about startup valuations and M&A"You're not worth that much money when you raise at 30 million or 50 million. You're not truly worth that. It's buying a future." - Dustin DeVanPlus: Owen debuts the new Bricks & Bytes merch, Dustin reveals his founder health transformation (no Ozempic involved), and the team debates whether construction tech is ripe for consolidation.Our Sponsor: Archdesk - “The #1 Construction Management Software for Growing Companies - Manage your projects from Tender to Handover” check archdesk.comBuildVision - streamlining the construction supply chain with a unified platform - www.buildvision.ioAphex is the multiplayer planning platform where construction teams plan together, stay aligned, and deliver projects faster – check out aphex.coChapters00:00 Intro01:43 Introduction to Company Offsites 07:46 The Importance of Company Offsites 11:42 Government Shutdown in the U.S. 21:00 Turner Construction's Deal with OpenAI 24:20 Exploring OpenAI's Impact on Construction 27:18 The Challenges of Implementing AI in Estimation 29:53 Creative Commercial Deals and Revenue Sharing 31:19 The Role of AI in Streamlining Workflows 34:38 Standardizing Processes for Effective AI Integration 38:58 The Future of Legal Services in the Age of AI 42:21 The Human Element in Legal and Engineering Services 49:34 The Acquisition Journey: From Partnership to Integration 53:03 Leadership Changes and Strategic Growth 57:09 Product Roadmap and Customer Experience 1:00:05 Navigating Competition in Construction Tech 1:01:55 Future of Acquisitions in Construction Tech
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Bricks, Buck$ And Bytes
nPlan Raises £11.9M Series B, AI Agents Lack Evals Crisis, WhatsApp Dominates 90% Site Communication
"Most AI Agents Will Die" - Why This CTO Is Terrified About What's Coming
In this episode of Bricks, Bucks & Bytes, hosts Owen Drury, Martin, and Patric Hellermann sit down with some of construction tech's boldest builders who aren't holding back. Fresh off massive funding rounds and hard-won lessons, they reveal what's really happening behind the hype.
What we cover: - nPlan's £11.9M Series B - Alan Mosca (CTO) explains why they accidentally solved molecule generation while building scheduling AI- Factors' $56M raise - How they're financing $250-300M of construction work annually (and the "trick" banks don't want you to know)- The AI agent apocalypse - Why lack of evaluation frameworks will "kill off most agents"- WhatsApp is eating construction tech - 90% of site communication happens here, and smart founders are finally paying attention- Smart glasses revolution - Why this could be as transformative as mobile phones on construction sites- AI consultancies without humans - The controversial future of PM firms charging on outcomes, not hours- Why one founder stopped fundraising - "Customer money is the best capital" and why raising is a "massive distraction"- 5 accelerators, 5 lessons - Prakash Senghani (Navatech) on contradictory advice and what actually works in the Middle East- Regional pricing secrets - Why per-user pricing fails in the UAE and what to do instead
Key Quote:"I think we're getting to a stage where AI is going to become like the internet, right? You don't tell people that my app runs on the internet. That's obvious. You're going to get to a stage where your app has AI. Yeah, that's obvious, right? What are you doing with it? What's the outcome?" - Prakash Senghani
Featuring: Alan Mosca (nPlan CTO), Nitin Bhandari (Planera), and Prakash Senghani (Navatech)
🎧 Listen to the Podcast: https://open.spotify.com/show/3P7JkiN9X3N4Kh6jlDsOgi?si=91JP5nxvQbKStkp8AQdAOg 📩 Subscribe to the Bricks & Bytes Newsletter: https://bricks-bytes.beehiiv.com/🌐 Visit our website: http://bricks-bytes.com/
📲 Follow us: LinkedIn: https://www.linkedin.com/company/bricks-bytes/ Twitter: https://x.com/bricksbytespod Instagram: https://www.instagram.com/bricksbytes/
Sponsors:BuildVision - streamlining the construction supply chain with a unified platform - www.buildvision.ioArchdesk - “The #1 Construction Management Software for Growing Companies - Manage your projects from Tender to Handover” check archdesk.com
Enjoying the insights? Hit that Subscribe button to stay ahead in construction tech, AI, and the future of how we build.
Chapters00:00 Intro02:12 Introduction and Guest Introduction04:61 Funding News and Company Growth08:03 Technological Innovations in Scheduling10:40 Generative Models and Unexpected Discoveries13:31 Developing Custom Models for Specific Tasks16:24 The Importance of Data and Research19:08 Convergence of Machine Learning Techniques22:13 AI Skepticism and Misuse24:52 The Future of AI in Construction Tech28:08 Collaborative Scheduling and User Experience30:57 Evaluating AI Performance33:36 Insights from Nitin on Data Center Construction36:32 Planera's Unique Approach to Scheduling39:28 The Role of AI in Scheduling42:20 Lessons from Past Collaborative Tools45:18 The Future of Scheduling Technology46:33 Introduction and Context Setting47:25 Navigating Growing Pains in Business48:17 The Role of AI in Business Operations49:44 Understanding the Product and Its Impact51:14 Practical Applications of AI in Safety54:45 Target Customers and Market Strategy55:48 Shifting Gears: The Future of Construction Tech1:00:17 The Evolution of Software and Company Structures1:04:09 Current Business Climate in the Region1:06:13 The Rise of Construction Tech Startups1:10:05 Experiences with Accelerators1:15:39 Pricing Strategies for Startups1:18:41 Conclusion and Future Outlook
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Bricks, Buck$ And Bytes
Procore’s AI Bomb, Should VCs Pick Ideas, Revolutionary Site Layout Tool
Last week at Groundbreak, Procore launched Helix AI Agents claiming to make startups like Trunk Tools and Datagrid "obsolete overnight."In this episode of Bricks, Bucks & Bytes, we invited Datagrid's CEO Tiago to respond (spoiler: he ghosted us... draw your own conclusions 👀)Owen, Martin, Dustin, and Patric also dives into one of the most controversial questions in startup investing: Should founders ask VCs for business ideas?In this episode:Why asking investors for startup ideas means you're already losingThe real reason big corporations can never innovate from withinWhere the truth about building outlier businesses actually liesWhy construction tech is heating up right now (and nobody knows what's coming)The Procore AI agent announcement that's shaking up the industryHow to find insights that actually matter (hint: it's not from VCs)The Brutal Reality: "If a VC had such a unique insight on that business, it would almost be a compelling enough reason to leave their job to pursue it because those things are so special and so rare"The construction tech arena is heating up. Big announcements. Bold claims. But who's actually solving real problems?If you're building in construction tech, this episode reveals the playbook no one's talking about.Watch the full breakdown before everyone else figures it out.
Chapters00:00 Intro01:32 Introduction to Business Ideas and AI Agents04:21 The Role of Investors in Business Ideation07:26 The Nature of Outlier Businesses10:05 The Limitations of VC Insights13:01 The Impact of New Browsers on Market Dynamics15:54 Procore's AI Agent Announcement and Industry Reactions18:51 Comparing Procore with Competitors28:01 Procore's Evolving Submittal Process29:04 Market Dominance and Industry Assumptions29:45 AI's Role in Construction Tech30:59 Data Activation Challenges32:10 The Importance of Data Connectivity33:54 Market Power and Vendor Lock-in34:23 Assumptions in the Construction Tech Landscape35:34 Tracy's Insights on Startup Strategies36:44 Defensibility in Construction Tech38:28 Collaboration and Network Effects39:20 Introduction to Mechasys40:07 Innovative Layout Solutions42:29 As-Built Documentation and Modifications44:29 Comparing Layout Solutions46:15 Hardware Development and Manufacturing49:20 Accuracy and Cost Competitiveness51:39 Understanding BOM Costs in Manufacturing54:32 Product Versatility and Customer Needs55:23 Innovations in Construction Management Software01:00:06 Challenges Faced by Residential Contractors01:04:21 The Importance of Estimating in Construction01:08:04 Navigating the Competitive Landscape of Construction Tech
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Bricks, Buck$ And Bytes
Buildots Acquisition, Procore Groundbreak’s Awkward Week, Pre-Con Is On Fire
Buildots acquired workforce tracking company Genda – combining progress monitoring with real-time worker data in a way their competitors can't match.In this episode of Bricks, Bucks & Bytes, Owen, Martin, Patric, and Dustin dig into the week's biggest stories in construction tech, from strategic acquisitions to what actually happened at Groundbreak.Key topics discussed:Why Buildots bought Genda and how tracking workforce alongside progress creates a competitive edge (especially for catching inflated change orders)Dustin's firsthand account of Procore's Groundbreak keynote – an hour about AI agents, but almost nothing about solving real construction problemsThe awkward moment when Tooey handed over CEO duties, and why the transition felt rushed and unpreparedLuigi La Corte from Provision explains how skimping on branding early hurt their credibility with customers (even while being capital efficient)A proper argument about 2D takeoffs: Dustin thinks they'll be commoditized, Luigi defends why 99% accuracy mattersCandid Intelligence's claim they can compress years of pre-construction work into hours (and what that actually means)The reality that contractors will never blindly trust AI quantities – and for good reason"If you don't do your own branding early, someone else will do your branding for you." – Luigi La Corte, ProvisionDustin also teases some Groundbreak gossip he can't share yet. You'll have to wait until next week.Sponsors:Archdesk - “The #1 Construction Management Software for Growing Companies - Manage your projects from Tender to Handover” check archdesk.comBuildVision - streamlining the construction supply chain with a unified platform - www.buildvision.ioChapters:00:00 Intro01:30 Introduction to BuildDots and Recent Acquisition04:32 The Importance of Workforce Tracking in Construction07:23 Challenges in Merging Progress and Workforce Tracking10:21 Insights on Acquisition Strategies and Market Dynamics13:30 Evaluating the Impact of Acquisitions on Competitive Landscape16:25 Procore and Autodesk: A Shift Towards AI19:12 Leadership Transition and Strategic Vision at Procore29:01 Introduction and Recent Developments30:49 Debate on Commoditization of Construction Tech33:58 The Importance of Data Sets in Estimation37:03 Challenges in Achieving Accuracy in Construction Estimates40:56 The Role of AI in Construction Management43:49 The Future of AI and Human Collaboration48:01 Capital Efficiency and Branding in Construction Tech51:53 Marketing Strategies and Customer Engagement53:19 Trust in Quantification Tools55:34 Transitioning Leadership in Tech Companies57:15 Innovations in Pre-Construction Processes01:01:34 Challenges in Construction Technology Adoption01:08:39 Building a Startup in Construction Tech01:11:29 Investor Relations and Business Growth Strategies