AI construction tech firm Buildots has secured a $15m investment to support its strategic growth
The funding, led by Intel Capital with participation from OG Tech Partners brings Buildots’ total financing to $121m as it continues to develop construction tech enhancements for its core management platform.
The announcement follows the launch of Buildots’ Delay Forecast feature, which uses AI to predict construction delays and recommends mitigating actions before potential disruptions escalate.
Cutting delays by up to 50%
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 uses a performance-driven approach that measures individual tasks, dramatically increasing overall efficiency and reducing costs, while cutting delays by up to 50%.
By utilizing objective site data, as opposed to subjective self-reporting, Buildots’ technology automates the precise 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.
Performance-driven construction management
Roy Danon, co-founder and CEO of Buildots, said: “Intel Capital has recognized 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 multitrillion 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, said: “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 revolutionize 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.”
