Kingspan is investing $10m in a minority stake in Invicara, and Louise Foody, Kingspan’s Director of Digital and Brand, and Mike Stenson, Head of Innovation at Kingspan, will join the Invicara Board of Directors.
Led by Anand Mecheri, CEO and Founder, Invicara has developed solutions that integrate with Building Information Modelling (BIM) technology, which provides detailed digital representations of buildings, allowing time and cost saving collaboration between partners on construction projects such as architects, engineers, contractors, and owners. The product is currently in use on key projects in North America, Ireland, the United Kingdom, Australia, and Singapore.
Working with Kingspan, the company will use its cloud-based platform to build a new solution that uses design and construction data to create new digital workflows that improve the customer experience. Invicara’s reach to customers and markets will be enhanced through Kingspan’s global presence in key market segments such as airports, healthcare, data centers, and retail among others.