Israeli AI construction software startup Buildots has secured a $15 million investment, led by Intel Capital, with participation from OG Tech Partners and previous investors. This round marks Intel Capital's first investment in the construction tech sector.
New Board Observer
Lisa Cohen, Investment Director at Intel Capital, will join Buildots as a board observer, enhancing the strategic partnership.
Funding and Development
This funding round brings Buildots' total financing to $121 million. The investment will support the development of technology enhancements for its core construction management platform and fuel the company's growth.
Addressing Industry Challenges
Innovation in the construction industry is crucial for overcoming traditional inefficiencies and improving performance measurement strategies. Large-scale industrial and commercial construction projects face complexity, cost, and productivity challenges. Even minor errors can lead to schedule delays and budget discrepancies. Embracing innovative digital technologies like Buildots can address these issues, fostering more efficient and effective construction management.
Buildots is transforming construction with a performance-driven approach that measures individual tasks, significantly increasing efficiency, reducing costs, and lessening delays by up to 50%.
Company Overview
Founded by Aviv Leibovici, Roy Danon, and Yakir Sudry in 2018, Buildots combines AI and computer vision to automate on-site progress tracking. The platform provides construction teams with accurate data and predictive performance metrics, empowering data-driven decision-making.
Platform Capabilities
Buildots’ platform enhances project visibility and efficiency, reducing delays, improving error detection, and ensuring successful project delivery. With hardhat-mounted cameras that record the job site and recreate a 4D model, Buildots is leading the AI construction revolution. The AI-driven technology identifies mistakes and predicts delays, accelerating construction and driving efficiency for large projects across North America, the UK, and EMEA.
Recent Accomplishments
Earlier this year, Buildots launched its AI-driven Delay Forecast feature. The company plans to partner with major construction companies and owners worldwide, improving project completion speed through enhanced collaboration, transparency, and accountability in the project management process.
Leadership Statements
“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. 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.”
“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,” said Lisa Cohen, Investment Director at Intel Capital. “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.”
