Trendspek revolutionizes asset inspection – In collaboration with civil engineering firm Wallbridge Gilbert Aztec (WGA), Trendspek, an infrastructure monitoring startup supported by IAG, conducts inspections of more than 25 cranes annually at ports in Brisbane and Sydney.
In December, Trendspek secured $6.3 million in funding, supported by IAG’s Firemark Ventures. Leveraging drone technology, Trendspek generates intricate 3D models of real estate and various assets to facilitate thorough inspections.
Conducting physical crane inspections necessitates a three-day shutdown, incurring costs amounting to thousands of dollars per asset. In contrast, Trendspek’s Precision Asset Intelligence software enables asset capture within a day or less.
Trendspek revolutionizes asset inspection
According to Andrew Brown, the Digital Engineering Manager at WGA Group, with Trendspek, cranes can resume operations in the morning itself, and the assessments conducted on screen are significantly more precise.
By utilizing Trendspek’s technology, not only do they achieve superior results, but there is also no need for individuals to endanger their lives by hanging from ropes or standing on cherry pickers.
Sydney-based Trendspek, established in 2018, specializes in creating precise 3D digital models of buildings and infrastructure. These models facilitate precise inspections and foster stakeholder collaboration irrespective of geographical location.
According to co-founder Fiona Church, over the past decade, there have been over 60 instances of major bridge failures and 10 cases of critical water infrastructure asset failures, resulting in the loss of thousands of lives. Additionally, in recent years, at least two high-rise residential buildings in Sydney had to be urgently evacuated due to severe cracking issues.
Ms. Church emphasized that these incidents, along with many others, could have been prevented through the implementation of stricter, more frequent, and accurate asset inspections.
Trendspek’s platform swiftly transforms assets into dynamic visual representations on screen, utilizing high-resolution 3D models captured by drones. These models encompass comprehensive external views of structures, allowing zooming capabilities down to a remarkable 1mm level of detail. The platform caters to a wide range of assets including property, energy, infrastructure, and telecommunications assets.
Ms. Church highlighted that with Trendspek’s platform, one can observe even minute details such as peeling paint on assets located on the other side of the world, all without the need to step away from their desk.
“For many years, those responsible for planning the maintenance of assets have been forced to rely on imprecise 2D models or, at times, disorganized collections of photos lacking necessary context. These limitations have hindered their ability to make crucial decisions that impact our safety and well-being.”
Scott Gunther, General Partner at IAG Firemark Ventures, expressed enthusiasm about the business potential offered by Trendspek’s software. He emphasized that it would enhance risk assessments, facilitate proactive and targeted maintenance, and ultimately enhance the claims experience for IAG’s commercial customers.
