Good news from KEWAZO: MIG Verwaltungs AG (MIG AG), the capital management company of MIG Fonds, is expanding its investment portfolio with the Munich-based startup KEWAZO. MIG Fonds 14 and business angel Alfred Bauer are investing a total of over 1 million euros.
KEWAZO is working on introducing smart automation technologies into scaffolding construction. While scaffolding construction has so far been largely personalized and does not require the use of machinery, the KEWAZO team, led by CEO Artem Kuchukov, has developed a system of robot modules and rails that significantly improves installation time and efficiency.
The KEWAZO system automatically transports scaffolding components from the ground to the assembly site. While erecting scaffolding on a construction site typically requires at least three workers, the KEWAZO system reduces this effort to just two. The flexibility of the KEWAZO system in its assembly and placement is ensured by its unique battery operation.
Greater occupational safety, better construction control & more transparency
In addition to reducing personnel costs and doubling the efficiency of scaffolding erection, the KEWAZO system offers further potential: occupational safety is improved, and the KEWAZO system stores data that records construction progress and serves for construction monitoring. It also provides greater transparency regarding existing scaffolding components, whose frequent "shrinkage" represents a cost factor. The installed sensors will enable a wide range of monitoring, analysis, and improvement options, thus enabling the digitalization of construction. A prototype and patent applications for the KEWAZO technology have been submitted.
Enormous market: construction automation
The market for KEWAZO is substantial. The targeted area of construction automation generates annual sales of approximately one billion euros in Germany alone, and over 23 billion euros worldwide.
Michael Motschmann, General Partner and Board Member of MIG AG, says about the investment:
"We are convinced of KEWAZO's business idea and technology and are therefore investing in this startup at a very early stage. Introducing modern robotics into a traditional sector like construction is an extremely exciting and promising approach."
Dr. Klaus Feix, Venture Partner of MIG AG and responsible for the investment in KEWAZO, adds:
"In construction automation, KEWAZO is a true pioneer with the potential to disrupt a sector. We want to be involved in this project from the very beginning and believe we are supporting a truly strong team. In addition to financing, MIG brings a significant amount of entrepreneurial expertise, from which the young founders can certainly benefit."
