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Today we are excited to announce the launch of Kwant, an IoT based platform for data driven decision making in construction and industrial projects. With the evolution of our technology, customer base, market dynamics and our team, we became a data driven predictive analytics company using low powered IoT sensors. Hence, the name Kwant.
Kwant is a IoT product of onTarget. Our software is still onTarget.
Its evolution, baby
We are surrounded by sensors in our daily lives- phones, cameras, earpods, speakers, Fitbit, Nest which provide you with actionable information about your health,environment, provides communication and visualization.
Construction is a different beast. It is fundamentally dynamic since we are creating something where there is nothing. It’s not possible to have WiFi in every corner of a jobsite as well as provide power supply to where walls haven’t even been installed.
Skilled workers are like fuel to the building process but they are scarce these days and making sure a project is firing on all cylinders is the key to a successful delivery.
We quickly realized 4 critical things
- Workforce makes 50% of a project and materials make the 30% - understanding accurate and real time productivity metrics is the key to increasing profits of a project.
- 4 workers die at a jobsite everyday in United States. Safety is important.
- Pattern recognition of the dynamic features of a construction project, primarily the field data provides valuble insights, predictive results & lower risk.
- We need high quality, high quality, real time data about men, materials, environment and safety which can only be collected passively. Only then can we provide highly actionable insights and early warning signals
The Meeting
When I met Tim and Tony in our office, we immediately sensed the complementary relationship. Tim has an amazing experience in hardware engineering and Tony, an expert in wireless technology focused primarily on low powered technology (Lora).
That's when we built a IoT platform - sensor network which doesn't require wifi, operates on battery power and the network has long-ranges which passes through building materials. Voila!
Our partners asked and we delivered
Nothing could have been done without our customers’ constant feedback and belief in the power of the technology. In last 6 months, we have validated some amazing results:
- At the Staten Island Museum project - Kwant provided early warning signals on delays with concrete foundation due to declining productivity and lack of craftworkers. Our system analyzed and recommended an optimized number of workers required. It completely removed the guesswork out decision making and provided concrete data of the status of the jobsite . Then, the activities were completed on time and achieved increased productivity by 11% potentially saving $2M in a project.
- At a Mixed building renovation in Queens - Kwant was able to detect the deviation between the planned area of work vs. actual area the work was taking place. It immediately sent an alert to the project manager and prevented a change order of $50K.
- In a test case, Kwant was able to reduce the response time during an accident on a jobsite by upto 70% with real time location awareness.
Rise Above
Construction is fragmented and transient in nature. Our artificial intelligence first standardizes historical data. Our proprietary IoT sensor network then collects real time with very less infrastructure, high accuracy and speed like never before.
The possibilities are endless
Imagine a jobsite where you could optimize 1000s of workers in real time, measure equipment downtime, prevent accidents, and are informed of if you are making or losing money each day? That’s exactly how we have been helping our customers.
Currently live on dozen projects, we have an additional 15 more projects( 3000+ workers & assets) in the waitlist. We plan to empower every bridge, road, building and airport construction in the world helping developers, builders, lenders and insurers.
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