XYZ Reality, the听transformational construction technology company behind Holosite, the world鈥檚 first Engineering-Grade Augmented Reality platform, has commercially launched worldwide and the revealed its ground-breaking device: The Atom, the most accurate AR headset for construction.
It is a landmark announcement for the disruptive technology company moving from an early access phase to global commercial availability following a successful 拢20 million Series A funding round in June. On track for 300 percent growth in 2022, the launch places XYZ Reality on its trajectory to significantly increase its global market share and represents a commercial milestone to becoming a market-leading ConTech company.
This strategic move responds to a sharp increase in megaproject asset owners and general contractors鈥� appetite for the proprietary solution, particularly from those who have already observed the power of XYZ Reality鈥檚 Engineering-Grade AR technology.
Over the last two years during its restricted commercial programme, XYZ Reality has deployed its technology to projects valued at over 拢1.5 billion working with selected customers on several complex projects like data centres, pharmaceutical facilities and airports. This collaboration with some of the biggest names in the construction sector, not only refined its proprietary technology, but proved XYZ Reality鈥檚 proposition as a leading, construction-dedicated technology provider.
This announcement brings XYZ Reality鈥檚 full, transformative potential to market to deliver instant, operational results for the construction community. Cementing its global entry, the launch will also see the establishment of a US headquarters bringing the cutting-edge, powerful technology directly to this valuable, forward-thinking audience of contractors and will support the delivery of mission critical projects.
XYZ Reality also unveils its next-generation Engineering-Grade AR headset – The Atom, the most accurate AR tool for construction. Combining a safety-听certified hardhat, augmented reality displays and the in-built, computing power of HoloSite, the device positions BIM onsite to millimetre accuracy. This Engineering-Grade tool makes the entire construction journey safer, smarter and more efficient, reducing waste, de-risking processes and delivering bottom line benefits for contractor and asset owner alike.
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Commenting on this milestone, XYZ Reality Founder & CEO David Mitchell says,
鈥淭echnology is transforming the way the construction industry operates, enabling contractors to deliver higher-quality more efficiently. Since inception, we have seen a greater understanding of the potential of AR to achieve better outcomes and improve margins. This commercial launch is a definitive proof point of our product鈥檚 value and the substantial appetite for it across the industry, particularly on mission critical projects where the highest levels of accuracy are required.鈥�
鈥淥ur entry into North America was spearheaded by current partners who are bringing us to the all-important territory. The market presents an exciting growth opportunity and is now supported with 鈥楾he Atom鈥�, which has been designed to show just how easy it is to work with our technology on-site. As XYZ Reality continues to grow, and we introduce new audiences to our powerful proposition, we will show how Engineering-Grade AR is an essential tool to delivering the highest quality, best outcomes for construction professionals.鈥�
Coral Butler, Group Head of Digitally enabled听Lean听Project Delivery (DePLD), PM Group, an early-adopter of XYZ Reality鈥檚 HoloSite, commented:
鈥淲e鈥檝e been working with XYZ Reality since the beginning and have already been impressed with how their powerful AR technology has been able to significantly increase efficiency and improve quality across multiple mission critical projects. The Atom has taken it to the next level. What鈥檚 so important is that The Atom has been developed by construction, for construction. David and the team have an acute understanding about the challenges and pressures on-site and the frustrations presented by the validation process. This Engineering tool is essential for project management, one which delivers benefits from planner through to asset owner.鈥�
