Buildots, an award-winning AI construction software company, has announced a $15 million investment led by Intel Capital, with participation from OG Tech Partners and previous investors. This funding round, announced on July 11, 2024, also brings Lisa Cohen, Investment Director at Intel Capital, to the Buildots board as an observer.
The construction industry is traditionally plagued by inefficiencies, leading to delays and budget overruns. Buildots addresses these challenges with innovative digital technologies that enhance performance measurement and project management.
“Intel Capital has recognized 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.”
Buildots leverages AI and computer vision to automate on-site progress tracking. Their platform provides accurate data and predictive performance metrics, empowering construction teams to make data-driven decisions. This approach not only improves efficiency but also reduces delays by up to 50%. By using objective site data rather than subjective self-reporting, Buildots’ technology offers precise status updates for every task on a construction project, helping to mitigate risks before they escalate.
Lisa Cohen from Intel Capital emphasized the potential of AI in revolutionizing construction process management. “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,” she said.
With this latest investment, Buildots has secured a total of $121 million in funding. This capital will be used to further develop its core construction management platform and fuel growth. One of the key milestones for Buildots this year is the launch of its AI-driven Delay Forecast feature, which enhances project completion speed through improved collaboration, transparency, and accountability.
Buildots’ platform offers several cutting-edge features:
- Automate Tracking: AI-powered progress tracking accurately measures site performance.
- Predict Delays: The Delay Forecast feature provides early warnings to predict and mitigate potential hold-ups, ensuring project timelines are met.
- Real Data for Real Plans: The Plan Tracker replaces traditional weekly planning with accurate progress data, fostering better collaboration and accountability.
Buildots is rapidly becoming a leading solution in the construction industry, partnering with major construction companies and owners worldwide. The platform is used across North America, the UK, and EMEA, significantly increasing efficiencies and reducing delays in large-scale construction projects.
Buildots continues to drive the industry forward with its commitment to innovation, transparency, and excellence. The company’s AI-driven technology automates on-site progress tracking, providing construction teams with accurate data and predictive performance metrics. This empowers teams to make informed decisions, enhances project visibility, and leads to reduced delays and successful project delivery.
For more information, visit Buildots’ website.
