Midlands Flat Roofing Specialist Secures Six Figure Loan for AI Survey Tech

A Midlands flat roofing specialist has agreed a £400,000 loan facility with HSBC UK bank to develop its own innovative AI software to help manage roofing surveys.

Hera Waterproofing, which refurbishes commercial and industrial flat roofs, uses AI to analyse the results of condition surveys of large, complex estates. Building 3D digital twins to help clients understand the scale and detail of projects, AI highlights defects, provides project insights and suggests solutions.

AI Survey Tech

The company will specifically use the funding to build its in-house software expertise and accelerate development of CoreOS, its AI platform for building surveyors.

CoreOS assembles building information from multiple systems and presents it as a unified view of complex property portfolios, making it easier to assess building condition and prioritise maintenance tasks.

The next phase of the platform’s development will add legislation and compliance features.

Six Figure Loan

The deal refinanced existing lending from HSBC UK bank to help the company grow. Turnover is forecast to rise by 150%, and the funding not only enable more technology investment, but also aid increasing imports of specialist waterproofing materials from the firm’s supply chain across Europe.

Set up in 2023, Hera Waterproofing works with building surveyors, facilities management providers and estate managers, handling everything from planning and material sourcing for subcontractors to ongoing monitoring through its technology platform.

Phil Chell, Chief Executive and Founder of Hera Waterproofing, said: “The skills shortage is one of the biggest challenges facing our industry, and it isn’t something we can solve through recruitment alone.

“HSBC UK’s funding gives us the capacity to invest in how we respond to that challenge, particularly in how technology can help our clients and contractors make better use of the skills and experience already within the sector. Having that backing means we can accelerate those plans and invest with confidence in the next stage of our growth.”

Sean Dyer, Relationship Manager at HSBC UK, added: “The construction industry has traditionally been slower than other sectors to adopt digital solutions, but technology has a significant role to play in addressing some of the industry’s biggest challenges.

“Turning that potential into practical solutions requires investment and access to the right funding. We’re pleased to support Hera Waterproofing as it continues to develop its AI offer, while giving the business the flexibility to invest in its wider plans and pursue new opportunities.”

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