Track3D, a US-based AI-based startup, has announced a milestone in securing $4.3m in venture capital seed funding.
This investment is set to accelerate the adoption of Track3D’s unified reality capture data platform for AI-powered construction progress monitoring.
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The seed round was spearheaded by Endiya Partners and saw contributions from Shadow Ventures, and Monta Vista Capital, among others.
The capital injection is earmarked for expanding Track3D’s product offerings and strengthening its market penetration strategies.
Endiya Partners managing director Sateesh Andra said: “Track3D is a unique example of a vertical, AI-first company shaping the digital transformation of a pivotal sector. We believe the time is now for a unified, data-agnostic construction monitoring solution to realise real-time, accurate and cost-efficient progress tracking and deviation analysis.
“We’re thrilled to back Track3D’s progress, and the team which is driven by the passion to enable structural change in an industry.”
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By GlobalDataCo-founded by Chaitanya Naredla, Kiran Gutta, and Vineeth Paruchuri, Track3D functions as a central repository for all visual data, transforming reality capture from a static record to a source of intelligence.
By harnessing visual data from various sources such as drones, 360-degree cameras, laser scanners, and mobile devices, Track3D delivers actionable insights.
These insights help enhance project supervision and decision-making processes through a single system.
Shadow Ventures founder and CEO KP Reddy claims to have invested in Track3D as its AI-based computer vision technology is versatile and effective for projects of any scale.
Track3D has also secured clients such as Hensel Phelps and Performance Contracting (PCI).
PCI Operations Finance vice-president Brett Dahmer has noted that Track3D has transformed PCI’s approach to construction monitoring.
It has allowed PCI to track an array of elements with accuracy and minimal dependence on traditional inputs.
Within a span of just six months, PCI has expanded its use of Track3D across several projects.
