Buildots, an Israeli AI construction technology company, has secured $15 million in funding led by Intel Capital.
Buildots, an Israeli construction technology company, has secured a $15 million investment led by Intel Capital. This funding will enable Buildots to accelerate its growth and expand its operations.OG Tech Partners and existing investors also participated in
the funding round, bringing Buildots’ total funding raised to $121 million.
By leveraging the power of artificial intelligence
(AI)-driven software solutions, Buildots empowers the construction industry to
effectively address inefficiencies and proactively mitigate potential risks
that may result in project delays and budgetary deviations.
The organization asserts that It effectively minimizes
operational expenses while simultaneously achieving a substantial reduction in
delays, potentially up to 50%.
Roy Danon, the Chief Executive Officer of Buildots, shared
that the company is integrating AI-powered progress tracking and advanced
analytics software into the multitrillion-dollar construction industry, which
has yet to fully embrace the benefits of the digital era.”
Intel Capital serves as the venture capital and investment
division of Intel, a prominent chipmaker.
As the investment director at Intel Capital, Lisa Cohen
shared in a statement that Intel is undertaking some of the most extensive and
intricate construction projects globally. In light of this, the company is
exploring the potential of AI to revolutionize construction process management
and drive enhanced efficiencies.