Israeli AI construction software startup Buildots, has snapped a $15 million investment. The round was led by Intel Capital (which invested in TuMeKe and FlexAI) with participation from OG Tech Partners and previous investors. Notably, this round marks Intel Capital’s first investment in the construction tech sector.
In addition to the financing, Lisa Cohen, Investment Director at Intel Capital, will join as a board observer.
This funding brings the company’s total financing to $121 million. It will help Buildots continue developing technology enhancements for its core construction management platform and fuels its growth.
What challenge does it tackle?
Innovation in the construction industry is essential for overcoming traditional inefficiencies and enhancing performance measurement strategies. Given the complexity, cost, and productivity challenges inherent in large-scale industrial and commercial construction projects, even minor errors can lead to schedule delays and budget discrepancies. Embracing new, innovative digital technologies can help address these challenges, fostering more efficient and effective construction management.
Buildots is transforming the reality of construction with a performance-driven approach that measures individual tasks, dramatically increasing overall efficiency, and lessening costs, while reducing delays by up to 50%.
What does the company do?
Founded by Aviv Leibovici, Roy Danon, and Yakir Sudry in 2018, Buildots combines the power of AI and computer vision to automate on-site progress tracking. The platform provides construction teams with accurate data and previously unavailable predictive performance metrics, empowering them to make data-driven decisions.
Buildots’ platform improves project visibility and efficiency, leading to reduced delays, enhanced error detection, and successful delivery of projects.
With hardhat mounted cameras that record the job site and recreate a 4D model, Buildots has led much of the AI construction revolution. The AI-driven technology spots mistakes and predicts delays, speeding up construction and driving efficiency for some of the world’s largest projects.
It is helping increase efficiencies of large-scale construction projects across North America, the UK and EMEA.
Other accomplishments
Earlier this year, Buildots launched its AI-driven Delay Forecast feature. Alsox it plans to partner with major construction companies and owners worldwide, enhancing project completion speed through improved collaboration, transparency, and accountability in the project management process.
“Intel Capital has recognised 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.”
“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,” said Lisa Cohen, Investment Director at Intel Capital. “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.”
What do we think about Buildots?
By leveraging AI and computer vision, Buildots transforms construction management, significantly reducing delays and costs. Its innovative approach promises enhanced efficiency and accuracy in large-scale projects, marking a significant advancement in the construction tech industry.
