Buildots, a company that creates AI-powered software for the construction sector, revealed that it has raises a $15 million funding round headed by Intel Capital, with additional participation from OG Tech Partners and past backers. Lisa Cohen, Investment Director at Intel Capital, will become a board observer in addition to the funding.
A Company develops its core construction management platform, this funding takes its total capital to $121 million.
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The performance-driven methodology offered by Buildots’ platform measures individual jobs, lowering expenses, improving overall efficiency, and cutting down on delays by up to 50%.
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Buildots’ technology automates the precise state of each task on a construction project by using objective site data instead of subjective self-reporting.
This allows for accurate progress tracking and performance metrics that can be utilised to identify and reduce risks before they become more serious.
“Intel Capital has recognized that the construction industry, a fundamental pillar of the global economy, has not yet fully benefited from the digital age,” said Roy Danon, co-founder and CEO of Buildots. “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.”
About Buildots
Buildots, a multi-award winning leader in construction technology, upgrades the conventional project management method with artificial intelligence (AI) and computer vision, introducing a performance-driven way to managing construction projects.
