2024-05-18T13:37:13-04:00 https://archinect.com/news/article/150088326/autonomous-crane-technology-receives-investment-boost Alexander Walter 2018-09-27T14:52:00-04:00 >2024-03-15T01:45:58-04:00 <img src="https://archinect.gumlet.io/uploads/4b/4b72640bc2b5605da09a9ba31ab2fe9d.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><em><p>With industrial robotics forecast to be worth $71.72 billion by 2023, it&rsquo;s no wonder entrepreneurs&nbsp;are turning their attention to increasingly lucrative&nbsp;sectors, like warehouse automation, order fulfillment, and manufacturing. Tel Aviv-based Intsite is one of the latest examples. The startup today announced a $1.35 million pre-seed round led by Terra Venture Partners and the Israel Innovation Authority to fund what it claims is the world&rsquo;s first autonomous crane technology.</p></em><br /><br /><figure rel="width: 100%; height: auto;"><p><a href="https://archinect.gumlet.io/uploads/7f/7f51278c00f072dc353948d794029783.gif" rel="nofollow" target="_blank"><img src="https://archinect.gumlet.io/uploads/7f/7f51278c00f072dc353948d794029783.gif"></a></p><figcaption>Image: Intsite</figcaption></figure><p>AI-powered autonomous construction technology is poised to see enormous growth in the coming years, promising to significantly increase efficiency, cut costs &amp; realization time, and reduce human errors as well as workplace-related injuries.</p> <p>"According to McKinsey, about 98 percent of construction mega-projects go significantly over budget, in part as a result&nbsp;of heavy equipment inefficiencies," reports <em>Venture Beat</em>.</p>