AI venture studio InnovateGPT, led by ex-Microsoft Australia executives George Stavrakakis and Rupert Walsh, has invested A$5.1m in SpatialGPT, a start-up aiming to use AI to redefine how spaces are built, managed and used
SpatialGPT will harness technologies such as Microsoft Copilot and Apple Vision Pro to integrate generative AI in construction and architecture.
It is developing solutions including virtual reality walkthroughs to support early design decisions, real-time progress tracking with automated reporting and advanced data collection for risk mitigation.
Boosting productivity through AI in construction
Australia’s construction industry is made up of 445,000 businesses and accounts for around 10% of GDP.
However, productivity has declined by 1.5% annually over the past two decades.
SpatialGPT believes integrating AI in construction processes will boost operational efficiency by enhancing precision, minimising delays and optimising costs.
The start-up will initially focus on billion-dollar projects in the construction industry. It aims to expand to education, healthcare and retail.
Matt Furse, SaaS partnership lead at Microsoft Australia &Â New Zealand, said: “We’re very excited to partner with SpatialGPT to help the construction industry and other critical sectors realise the significant potential of generative AI.
“By using our technologies, such as Azure OpenAI Service and Copilot, this collaboration will enable advancements in spatial environments that were once considered beyond reach.”
Construction ‘ripe for innovation’
InnovateGPT CEO George Stavrakakis said: “Our decision to focus first on the construction sector stems from recognising its pivotal role in the economy and the substantial potential for positive change within this key area.
“It’s clear that this sector not only plays a crucial role in our economy but also presents a ripe landscape for innovative advancements.
“With its wide-ranging applicability, SpatialGPT is set to revolutionise the construction industry and bring significant value to various sectors. Over the next 12 months, we aim to expand our market presence and deepen our engagement across industries.”
Stavrakakis and InnovateGPT CTO Rupert Walsh together spent more than 40 years in various executive roles at Microsoft Australia.
In its first year, InnovativeGPT has incubated and launched 13 AI start-ups. It has invested more than A$15m across its portfolio, which includes SkillsGPT and RedGridGPT.
