Buildots, an award-winning AI-driven construction software company, announced a $15 million investment led by Intel Capital, with participation from OG Tech Partners and other previous investors. Alongside the funding, Lisa Cohen, Intel Capital’s Director of Investments, will join as a board observer.
Innovation in the construction industry is crucial to overcoming traditional inefficiencies and enhancing performance measurement strategies. Given the complexity, cost, and inherent productivity challenges 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.
“Intel Capital has recognized that the construction industry, a cornerstone of the global economy, has yet to fully benefit from the digital age,” said Roy Danon, Buildots co-founder and CEO. “For the past five years, Buildots has been at the forefront of integrating AI-driven progress tracking and advanced analysis software in this multi-trillion-dollar industry, driving a transformative shift towards performance-oriented construction management. We are proud to partner with Intel Capital to propel large-scale construction towards a more efficient and controlled future, eliminating guesswork and providing decision-makers with comprehensive and accurate oversight.”
Buildots is revolutionizing construction reality with a performance-oriented approach that measures individual tasks, significantly increasing overall efficiency and reducing costs while cutting delays by up to 50%. By utilizing objective site data instead of subjective reports, Buildots’ technology automates the precise status of each task in a construction project, offering accurate progress tracking and performance metrics that can be used to anticipate and mitigate risks before they escalate.
“By investing in a resilient global semiconductor supply chain, Intel undertakes some of the largest and most complex construction projects in the world. That firsthand experience is why we see such potential for AI technology to revolutionize construction process management and generate new efficiencies,” said Lisa Cohen, Intel Capital’s Director of Investments. “Buildots’ vision and its ability to apply AI-driven predictive analytics to enhance 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 to develop technological enhancements for its core construction management platform and drive its growth.
This funding is one of the many milestones Buildots has achieved this year, including the launch of its AI-driven delay forecasting feature. Buildots is collaborating with major construction companies and owners worldwide, enhancing project completion speed through better collaboration, transparency, and accountability in project management processes.
About Buildots
Buildots is a global leader in construction technology, harnessing the power of AI and computer vision to automate on-site progress tracking. The platform provides construction teams with precise data and predictive performance metrics previously inaccessible, enabling data-driven decision-making. Buildots’ platform enhances project visibility and efficiency, reducing delays, improving error detection, and ensuring successful project delivery. Buildots is helping increase the efficiency of large-scale construction projects in North America, the UK, and EMEA.