AI construction software company Buildots has secured a $15m investment led by Intel Capital with participation from OG Tech Partners and previous investors.
Using ‘objective’ site data Buildots’ technology automates the status of every task on a construction project, offering accurate progress tracking and performance metrics that can be used to anticipate and mitigate risks before they escalate.
The company claims its technology increases efficiencies, reduces costs and cuts delays by up to 50%.
Roy Danon, co-founder and CEO of Buildots, said: “Intel Capital has recognised that the construction industry, a fundamental pillar of the global economy, has not yet fully benefited from the digital age. Over the past five years, Buildots has been at the forefront of integrating AI-powered progress tracking and advanced analytics software into this multi-trillion dollar industry, driving a transformative shift towards performance-driven construction management.
“We are proud to work with Intel Capital to propel large-scale construction into a more efficient and controlled future, taking out the guesswork and providing decision-makers with comprehensive and precise oversight.”
Lisa Cohen, investment director at Intel Capital, who is joining the Buildots board as an observer, added: “As we invest in a resilient global supply chain for semiconductors, Intel undertakes some of the largest and most complex construction projects in the world. That first-hand experience is why we see so much potential for AI technology to revolutionise construction process management and drive new efficiencies.
“Buildots’ visionary outlook and ability to apply AI-powered predictive analytics to increase construction efficiencies will enable a more productive future for the global construction market.”
