Husqvarna Group invests in Gamma Technologies

Rhea-AI Summary

Husqvarna Group has invested €1 Million in Gamma Technologies, marking the fifth investment from its venture capital fund aimed at fostering start-ups in digital disruption within the construction industry.

This investment aims to enhance augmented reality (AR) technology usage in construction, reducing planning time and errors on job sites through 3D Building Information Modeling (BIM) overlays. The collaboration is expected to further develop Husqvarna's construction business and elevate industry awareness regarding AR technologies.

Positive

• Investment of €1 Million to support innovation in augmented reality (AR) technologies.
• Gamma's AR technology aims to reduce planning time and costly mistakes in construction.

Negative

• None.

STOCKHOLM, Sept. 16, 2021 /PRNewswire/ -- Husqvarna Group's venture capital arm has recently invested €1 Million to take an equity stake in Gamma Technologies. Gamma is the fifth investment for Husqvarna Group's venture capital fund where the aim is to collaborate and help grow start-ups in areas of digital disruption that impact the Group's industries.

"Gamma is innovating in an area of high interest to us as we believe Augmented Reality (AR) is an important technology when delivering new technology-based services to our customers going forward. We look forward to a close collaboration with the Gamma team and to capture learnings to accelerate the evolvement of our Construction business", says Mark Johnson, Vice President Corporate Venture Capital, Husqvarna Group.

Gamma Technologies
Gamma is disrupting the construction industry by bringing 3D Building Information Modeling (BIM) models with interactive features intuitively to the construction site. Gamma utilizes its augmented reality technology to overlay BIM models on contractors' mobile handsets displaying the otherwise unseen infrastructure. Gamma's BIM / AR software is used to guide operators on where to cut, drill, etc., therefore reducing both planning time and the risk of performing work in the wrong place, which is very costly to our customers.

"The investment from Husqvarna Group will accelerate the revolution of the construction industry and spread awareness about the benefits of using AR technologies on the jobsite. Husqvarna Group, with our current shareholders Formitas, are strategic investors and partners which will help us define the future of construction. We are excited to start working with Husqvarna Group on the implementation of innovative technology in the construction industry.", says Caner Dolas, CEO & Co-founder, Gamma Technologies.

Husqvarna Group Ventures

Husqvarna Group Ventures is looking for startups to invest in and partner with, where Husqvarna Group's industry knowledge and distribution network will deliver value, and help scale these companies to maturity. Gamma represents a great example of how Husqvarna Group likes to get involved at the early stages to help co-develop customer solutions.

For additional information

Husqvarna Group Press department + 46 8 738 9080

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SOURCE Husqvarna AB

FAQ

What is the significance of Husqvarna Group's investment in Gamma Technologies?

Husqvarna Group's €1 Million investment in Gamma Technologies is aimed at enhancing augmented reality (AR) technology in the construction industry, potentially revolutionizing project planning and execution.

How does Gamma Technologies' AR software benefit the construction industry?

Gamma Technologies' AR software overlays 3D Building Information Modeling (BIM) on mobile devices, helping contractors visualize infrastructure and reduce costly mistakes.

When did Husqvarna Group invest in Gamma Technologies?

Husqvarna Group announced its investment in Gamma Technologies on September 16, 2021.

What is the goal of Husqvarna Group's venture capital fund?

The goal of Husqvarna Group's venture capital fund is to support and scale start-ups focused on digital disruption in industries relevant to Husqvarna's business.

What will the partnership between Husqvarna Group and Gamma Technologies focus on?

The partnership will focus on implementing innovative AR technologies within the construction industry, aiming to improve efficiency and reduce errors.