Buildots has announced a $15M investment led by Intel Capital with participation from OG Tech Partners and previous investors. In conjunction with the financing, Lisa Cohen, Investment Director at Intel Capital, will join as a board observer.
“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.”
Buildots is transforming the reality of construction with a performance-driven approach that measures individual tasks, helping reduce delays on the jobsite. By utilizing objective site data, as opposed to subjective self-reporting, Buildots’ technology automates the status of tasks on a construction project, offering progress tracking and performance metrics that can be used to anticipate and mitigate risks before they escalate.
"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.”
Buildots
This funding brings the company’s total financing to $121 million as Buildots continues developing technology for its core construction management platform and fuels its growth.
This financing is one of the many milestones Buildots has accomplished this year including the launch of its AI-driven Delay Forecast feature. Buildots is partnering with major construction companies and owners worldwide, enhancing project completion speed through collaboration and accountability in the project management process.
