AI construction software company Buildots has secured new $15m funding that will help propel the Israeli startup’s strategic growth initiatives.
Spearheaded by Intel Capital, the investment round saw contributions from OG Tech Partners and existing investors.
Intel Capital’s investment director Lisa Cohen will take on the role of board observer in line with the investment.
With this latest round of funding, Buildots’ cumulative capital raised totals $121m.
The company is channelling these resources into further developing its construction management platform and expanding its market reach.
Buildots leverages AI to refine construction management, offering a method that emphasises task-specific performance, which in turn boosts overall project efficiency and curtails costs.
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By GlobalDataThe company’s technology hinges on the collection and analysis of objective site data, enabling automated tracking of construction progress. This approach provides a granular view of each task’s status, facilitating proactive risk management.
Cohen 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 revolutionise construction process management and drive new efficiencies.”
Recent achievements for Buildots include the introduction of the AI-powered Delayed Forecast tool, which has bolstered its product offerings.
Through partnerships with key industry players globally, Buildots is enhancing the speed of project delivery by fostering better collaboration and ensuring greater transparency and accountability in management practices.
The platform’s data-centric insights offer teams the ability to make informed decisions based on predictive performance indicators.
The results include improved project oversight and efficiency, leading to fewer delays, more effective error detection, and successful project completions.
