VIPC’s Virginia Venture Partners Invests in SaaS Startup gNext Labs for Automated Inspection and AI-Powered Visualization Platform That Saves Users Time and Money

gNext’s cloud-based platform enables visualization of drone-sourced imagery and data for safe, virtual inspections of civil infrastructure.

RICHMOND, VA, UNITED STATES, October 9, 2024 /EINPresswire.com/ -- The Virginia Innovation Partnership Corporation (VIPC) today announced that Virginia Venture Partners (VVP), VIPC’s venture capital program, has invested in Roanoke, Virginia-based gNext Labs, LLC. gNext offers a SaaS civil infrastructure management platform that securely combines inspection data collected from drones, vehicles, or individuals and enables its secure analysis and AI-powered visualization.

When it comes to conducting infrastructure inspections, the volume of data generated is often overwhelming, causing more confusion than clarity. By harnessing the power of drone data, computer vision, machine learning, and 3D modeling, gNext’s cloud-based platform transforms this data into controllable, actionable insights and enables a more sustainable and efficient approach to civil infrastructure management.

“The process optimization offered by gNext Labs enables infrastructure management entities to strategically allocate their capital spending, streamline maintenance operations, and ultimately extend the service life of their assets,” said Abraham Lama Salomon, Co-founder and CEO of gNext Labs. “Our users report up to 90% time savings in producing inspection reports and other deliverables, along with a 60% cost reduction, increased defect detection, quantification, and the ability to track changes over time. We are excited that VIPC sees the boundless potential of this platform and we are looking forward to partnering with them as we continue to scale.”

The gNext platform is an all-in-one online management tool to keep all data and assets organized in a single, centralized location and allows for on-demand reporting and remote collaboration. Its unique, powerful, and easy-to-use features enable faster and safer vertical inspections and lower overall project costs. It can accommodate data of any type, from any source. And, as infrastructure continues to age, the scalability of gNext’s tools will future-proof of the digital inspection process.

“The infrastructure inspection market is swiftly adopting digital twins across a wide range of use cases. gNext provides the industry-leading inspection platform and tools to power this growing market need. Additionally, we are integrating advanced AI for defect detection across expanding use cases, yielding impressive results,” said Russ Ellis, President of gNext. “The inspection world is preparing for rapid change, and gNext stands ready to power digital transformation for this dynamic market.”

VIPC President and CEO, Joe Benevento, said, “When individuals don’t accept the status quo, imaginative, innovative ideas emerge that can change the nature of an entire industry. That’s exactly what the founders and team at gNext are doing with infrastructure inspections. VIPC is pleased to support Virginia founders and entrepreneurs who are creatively driving innovation that not only contributes to economic growth but also enhancing the safety of communities and people.
We look forward to seeing gNext expand their footprint in Virginia and create new high-paying jobs for the future.”

“From bridges to concrete structures to utilities and more, gNext Labs is employing powering artificial intelligence capabilities to automatically detect and quantify defects during inspections,” said Jennifer O’Daniel, Senior Investment Director for VIPC’s Virginia Venture Partners. “Because of its many use cases, the market opportunity for this technology is huge and current. gNext has already demonstrated early competitive wins against more established and well-funded competitors and we are confident they will continue to demonstrate success.”

VIPC’s venture capital investment in gNext Labs draws upon funds made available through the U.S. Treasury’s State Small Business Credit Initiative (SSBCI) Equity / Venture Capital Program.

About gNext Labs
gNext’s comprehensive inspection platform empowers full construction project management capabilities and infrastructure asset management in a single cloud-based platform. Custom-built, gNext offers a secure platform that combines drone-collected data with artificial intelligence and 3D modeling that enables inspectors the ability to analyze the integrity of assets safely, accurately, and collaboratively from any remote location. Learn more at www.gnextlabs.com.   

About Virginia Innovation Partnership Corporation (VIPC)
Connecting innovators with opportunities. VIPC operates as the nonprofit corporation on behalf of the Virginia Innovation Partnership Authority (VIPA). VIPA / VIPC is Virginia’s designated authority for leading innovation and economic development in the Commonwealth of Virginia through research, commercialization, and technology advancement; entrepreneurship, startup, and venture capital growth; and regional ecosystem, innovation network, and industry sector expansion. As part of its operations, VIPC helps attract and catalyze private investment into early-stage startup companies, provides research and technology commercialization grants to universities and entrepreneurs, and offers resource and funding support for entrepreneurial ecosystems, innovation networks, and public-private partnerships at local, state, federal levels.

VIPC’s programs include: Virginia Invests | Virginia Venture Partners (VVP) | Commonwealth Commercialization Fund (CCF) | Entrepreneurial Ecosystems Development | Regional Innovation Fund (RIF) | Smart Communities | The Virginia Smart Community Testbed | The Virginia Unmanned Systems Center | Virginia Advanced Air Mobility Alliance (VAAMA) | The Public Safety Innovation Center (PSIC) | Federal Funding Assistance Program (FFAP) for SBIR & STTR | University Partnerships | Startup Company Mentoring & Engagement.

For more information, please visit www.VIPC.org. Explore the latest news from VIPC and images from VIPC-supported stakeholder events. Follow VIPC on Facebook, X, and LinkedIn.

About Virginia Venture Partners (VVP)
Virginia Venture Partners (VVP) is VIPC’s venture capital investment platform that makes direct investments in Virginia-based startups with a high potential for achieving rapid growth and generating a significant economic return for entrepreneurs, co-investors, and the Commonwealth of Virginia. Since its inception in 2004, Virginia Venture Partners has helped catalyze investment in more than 300 startups and attract more than $2 billion of private industry capital into Virginia, resulting in 35x capital leverage.

Virginia Invests is a VIPC-led initiative that expands investment and growth opportunities for Virginia-based, innovation-driven startups and entrepreneurial ecosystems throughout the Commonwealth. The investment program is designed to accelerate capital invested, from both in-state and out-of-state fund managers, into Virginia startups, particularly those with female, black, Hispanic, Veteran, and/or rural-based founders. Virginia Invests is expected to catalyze and attract $250 million of investment into more than 100 high-growth Virginia startups during the next 3-5 years.

For more information about VVP and Virginia Invests, visit www.VIPC.org.

Angela Costello, Vice President of Communications
Virginia Innovation Partnership Corporation (VIPC)
angela.costello@VirginiaIPC.org