With an annual industry value of $1.3 trillion in the United States and €1.7 trillion in Europe, the construction industry is one of the key economic drivers worldwide. Yet, for years it has remained a sleeping giant, dogged by antiquated systems, stagnant productivity, manual labor, and low profitability. In other words, it is a market desperate for a digital transformation.
Which is where 4M Analytics comes in- the tech company mapping the under earth.
When I met 4M I realised that, although they were approaching a market that is less known and not traditionally targeted by tech companies, this was clearly a startup with great potential that aligned with our values at F2- investing in startups that we believe will become market leaders.
We have worked closely with the 4M founders and have gotten strong conviction around their market, their value to customers, their powerful team, and their unique product.
The Antiquated Infrastructure Industry
The infrastructure construction industry is one of the least digitised sectors of today’s economy with a complex and fragmented ecosystem of developers, engineers, planners, owners, lenders, contractors and more.
Beyond its high fragmentation, the lack of data transparency and reliance on manual data collection and estimations are still common on construction sites. This lack of real-time data and knowledge of what lies under the earth results in unexpected costs, schedule delays, infrastructure damage, safety issues and more.
With the rise in concerns over the safety of underground utilities, high demand for real-time and accurate utility mapping applications, and ageing infrastructure in need of maintenance, it is a market that is more than ripe for the kind of disruption that 4M is bringing to the table.
4M’s Revolutionary Product Offerings
4M’s mantra is simple: they are the Google Maps of the under earth. Using a combination of remote sensing, AI, and computer vision, 4M is able to map countless miles of man-made infrastructure buried in the subsurface.
Their cutting-edge technology addresses an acute problem encountered during construction: the inability to locate utilities underground before it is too late. 4M analytics has developed the perfect tool to map the subsurface which is currently being applied for subsurface utility engineering (SUE) purposes, such as land surveys, utility locating, route concept planning, and others.
This tool saves more than 80% on location costs, more than 85% of locating time, and empowers users to go from guessing work to reliance on accurate maps before they begin to plan or dig.
A Powerful Team
The 4M team comes with the operational expertise and leadership experience needed to form a winning company.
Co-founder and CEO, Itzik Malka, spent decades as an officer in the special combat engineering unit of the IDF Engineering corps, COO and co-founder, Nir Cohen was a commander in the Combat Engineering course where he led innovative covert initiatives and subsurface operations- giving him a deep understanding and respect for the subsurface. Their co-founder and CTO Yoav Cohen is the former head of unit 9900 and comes with over 20 years of experience in technology and engineering initiatives.
Together they make up a powerful team that understands the struggles of infrastructure in and out and are poised to bring their vision to life.
We got to watch the 4M team grow as part of our Junction pre-seed platform, and saw their team, product, and vision maturing to a startup with tangible potential.
Reaching Their Vision
With their latest funding round of $11 million, 4M is well on their way to scaling their company, further developing their products, and realising their vision: to create a single centric global map of underground utilities and sub-soil hazards, that will revolutionise the infrastructure industry.
We see 4M as a first mover in this blue ocean market. Their unique product along with their strong founders means they are positioned to be a leading company in the construction industry and are excited to support this remarkable team as they continue their journey.