Buildots, an artificial intelligence and machine learning construction software company whose tools document construction progress and can help predict schedule issues, has announced a $15 million investment round , led by Intel Capital with participation from OG Tech Partners and previous investors. Along with the funding, Lisa Cohen, chief investment officer at Intel Capital, will join Buildots as a board observer.
“We are proud to work with Intel Capital to propel large-scale construction toward a more efficient and controlled future, removing the guesswork and providing decision makers with comprehensive and accurate oversight,” said Roy Danon, co-founder and CEO of Buildots. in a statement.
Intel Capital is the division of Intel Corp. which manages its venture capital, global investment and mergers and acquisitions.
“Buildots’ AI technology is already used in large-scale projects around the world, providing unparalleled visibility into project progress, enabling project managers to make more informed decisions, optimize resource allocation and mitigate risks proactively,” said Cohen, who joins the group. Construction board. “Buildots is transforming the reality of construction with a performance-based approach that measures individual tasks, dramatically increasing overall efficiency and reducing costs, while reducing delays by up to 50% through the use of objective data of the site, rather than subjective self-report,” she said.
Founded in 2018 by Danon, CTO Yakir Sudry and Chief Product Officer Aviv Leibovici, Buildots added plan tracking to its offerings last year. Its original technology offering is capable of analyzing 360° images captured on construction sites to identify constructability issues or scheduling conflicts before they occur. Intel’s Cohen said that while he could not discuss the semiconductor manufacturing giant’s capital investments in facilities such as chip factories and other massive projects, Buildots’ detail-oriented approach appears to aligns well with these efforts.
“I can say that Intel Capital is excited to invest in Buildots, and that Intel’s first-hand experience in building some of the largest and most complex construction projects in the world has certainly played a role in leading us to appreciate the enormous potential of AI technology in general and Buildots in particular, in terms of revolutionizing the management of the construction process and driving efficiency to new levels,” he said.
