Previous investors including OG Tech Partners also participated in the round.
Innovation in the construction industry is essential for overcoming traditional inefficiencies and enhancing performance measurement strategies. Given the complexity, cost, and productivity challenges inherent in large-scale industrial and commercial construction projects, even minor errors can lead to schedule delays and budget discrepancies. Embracing new, innovative digital technologies can help address these challenges, fostering more efficient and effective construction management.
Buildots is uses a performance-driven approach in the construction world by measuring individual tasks, dramatically increasing overall efficiency, and lessening costs, while reducing delays by up to 50%. By utilising objective site data, as opposed to subjective self-reporting, Buildots' technology automates the precise status of every task on a construction project, offering accurate progress tracking and performance metrics that can be used to anticipate and mitigate risks before they escalate.
Lisa Cohen, Investment Director at Intel Capital said: "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."
This funding brings the company's total financing to $121 million as Buildots continues developing technology enhancements for its core construction manageent platform and fuels its growth.
