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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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 $1.40 monthly✅ Why focusing on critical path items like chillers and generators (not commodity products) creates maximum value-----Chapters00:00 Intro00:05:35 Introduction and Series A Announcement00:08:25 Build Vision Overview and Product Development00:11:40 AI Integration in Procurement Solutions00:14:41 Revenue Models and Customer Success00:17:29 Growth and Future Projections00:20:43 Challenges in the Construction Industry00:23:35 Funding and Investor Relations00:26:40 Technological Challenges and Solutions00:29:28 Market Position and Competition00:40:07 Navigating Risk in Construction00:43:35 Building Strategic Partnerships00:46:29 Outcomes Over Products00:49:35 Challenges in the Buy-Sell Dynamic00:51:25 Impact of Tariffs on Construction00:55:30 Future of International Operations00:56:25 The State of Construction Tech01:06:21 Voice-Enabled Workflows and Future Prospects01:08:41 Acquisition Strategies and Market Positioning
How Starpath Robotics Plans to Mine Space Water From Moon- Is It Even Possible?
Construction robots: From hot dogs to highways?
In this episode of Bricks, Bucks and Bytes, we explored how robotics is changing construction.
We learned about Starpath Robotics' plan to mine water on the Moon for rocket fuel. This could change how we explore space.
We also covered how construction companies are now more open to using robots. This is due to a lack of skilled workers.
Patric and Gabriele shared insights on investing in construction tech startups.
Tune in to find out about:
✅ Why robotics companies should start with specific problems
✅ How construction robots can help with labor shortages
✅ What investors look for in robotics startups
✅ The importance of building a track record in robotics
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Bricks, Buck$ And Bytes
Billion-Dollar Blindspots: Are Construction Tech's 'Best' Lists Building on Quicksand?
Is the construction industry building its future on a foundation of hype? Think again. The latest market maps and "best-of" lists might be leading you astray.
In this episode of Bricks, Bucks and Bytes, we explored McKinsey's updated report projecting a $22 trillion construction market by 2040, alongside the industry's looming labor crisis.
We discussed the expansion of the Bricks and Bytes podcast network, including new shows like "BitBuilders" focusing on robotics in construction.
Patric also shared his critical analysis of "best-of" lists and market maps in construction tech, revealing surprising insights about company success rates.
Tune in to find out:
✅ Why the construction industry is facing its most challenging and high-activity era ever
✅ How robotics might transform on-site construction in unexpected ways
✅ Why well-funded companies often underperform compared to their less publicized counterpart
✅ The importance of looking beyond funding and PR when evaluating construction tech startups
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Sign up to the #1 Newsletter In Construction Tech. Join over 1,000 like-minded Founders, Investors and Techies disrupting the way we build. Forever: https://bricks-bytes.beehiiv.com/subscribe
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Company Mentioned:
- McKinsey
Gecko Robotics
Monumental
Mighty Buildings
Nexii
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00:01.08 - 14:00: Introduction and Bricks and Bytes podcast network updates
14:00 - 20:10: McKinsey's updated construction productivity report
20:10 - 29:00: Labor shortage in construction industry
29:00 - 38:00: Potential solutions to labor shortage
38:00 - 44:00: Attracting talent to construction industry
44:00 - 50:30: Patric Hellermann's analysis of "best-of" lists
50:30 - 54:00: Detailed breakdown of study results
54:00 - 57:30: Discussion on implications of the study
57:30: Closing remarks and end of episode
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Bricks, Buck$ And Bytes
The Niche Domination Strategy - Why 1% of a Huge Market Could Kill Your Startup
Is your startup targeting just 1% of a massive market? Think again. This common pitch strategy might be hurting your chances with investors.
In this episode of Bricks, Bucks and Bytes, we learned about Opus Flow's €1.7 million investment to boost their ERP solution for sustainable installers.
We also explored the 3D visualization market, discussing by 7.2 (formerly known as Apex Partners)'s investment in Lumion, a key player in AEC software.
Patric also shared valuable insights on building successful startups in crowded markets like construction tech.
Tune in to find out:
✅ Why focusing on a specific niche can be more powerful than chasing a small slice of a big market
✅ How Opus Flow stands out in the competitive ERP space
✅ Why adding AI isn't always enough to beat established players like Lumion
✅ The importance of profitability in your core business before expanding
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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
Instagram: https://www.instagram.com/bricksbytes/
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Company Mentioned:
- OpusFlow
- Lumion
- Enscape
- Twinmotion
- Inframarket
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Timestamps
00:00 Introduction and Icebreaker
06:32 Navigating the Crowded Market: Opus Flow's Differentiation
10:40 The Challenges of a Red Ocean Market and Margin Compression
13:00 The Importance of Partnerships and Distribution for Opus Flow
21:37 Becoming a Category Leader: Challenges and Opportunities for Opus Flow
24:03 Introduction to the Rendering Industry
26:28 Challenges Faced by Startups
31:20 The Importance of Differentiation and Capturing Entire Workflows
36:12 The Significance of Focusing on Specific Niches
44:46 Building a Profitable Core Business
48:30 The Misconception of Targeting a Small Percentage of a Large Market
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Bricks, Buck$ And Bytes
Why 2D Design Still Beat 3D & The Surprising Impact of AI on Architectural Firms and Pricing
Is the future of architecture in 2D, not 3D? Testfit founder's has got a surprising take…
In this episode of Bricks, Bucks and Bytes, we learned how TestFit grew from a weekend project to raising a Series A, changing how architects do feasibility studies.
We also discovered why small firms might replace big ones like Gensler, as AI changes how architecture works.
Patric shared why "outcome as a service" companies are shaking up the construction tech world.
Tune in to find out:
✅ Why 2D design might still beat 3D and VR
✅ How AI could change the money side of architecture
✅ Why keeping customers matters more than getting new ones in construction tech
✅ The role of VC money in an industry that rarely reinvests in itself
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Company Mentioned:
TestFit
Gensler
Autodesk
Prologis
Katera
Good Eggs
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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
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X/Twitter: https://twitter.com/bricksbytespod
Youtube: https://www.youtube.com/channel/UCmNbunUTIIQDzbJgGJt9_Zg
Instagram: https://www.instagram.com/bricksbytes/
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Timestamps
00:00 Introduction and Background
09:31 Issues with the Design Stack
18:44 The Importance of 2D Design
23:43 Automation and Problem Solving
26:01 Challenges in the Design Stack
26:53 Building Meaningful Automation in AEC
30:07 The Impact of Narratives in the Venture Industry
33:24 The Future of Architecture and Design in an AI-Driven World
34:21 The Potential Fragmentation of the AEC Industry
41:07 Picking VCs and the Importance of Customer Retention