Seeking Alpha, 7/14/2017
Summary:
Autodesk has participated in a $7 million financing round for construction video firm Newmetrix.
Newmetrix has developed intelligent video and photo tagging software with numerous applications for construction site and industrial markets.
The deal is a smart move by Autodesk, and is indicative of a more active approach to investing in and partnering with new technology companies.
Quick Take
CAD software developer Autodesk (ADSK) has invested in a $7 million funding round for intelligent video company Newmetrix.
Newmetrix has applied machine learning technologies to enable construction companies to tag and monitor construction site activity automatically for security, safety, and progress completion milestones.
Topics: News Coverage
