Trends
Intel invests $15M in Israeli AI startup Buildots
Intel Capital is leading an investment in AI construction startup Buildots, using technology to enhance project management efficiency.
Headline
Intel Capital is leading an investment in AI construction startup Buildots, using technology to enhance project management efficiency.
Context
OUR TAKE Intel’s strategic investment in Buildots aligns with its broader efforts to drive efficiency through technology. It highlights Intel’s extensive construction experience as pivotal in appreciating the potential of AI in revolutionising construction process management as well. –Ashley Wang, BTW reporter Intel Capital, the venture capital (VC) and investment part of chipmaker Intel, revealed a strategic investment in Bulidots, an Israeli AI construction startup. The investment amounts to $15 million according to Bulidots on Thursday.
Evidence
Pending intelligence enrichment.
Analysis
Founded six years ago, Buildots, a company that uses AI and computer vision to create digital twins of construction sites, collaborates with construction giants such as Pomerleau , NCC, and Ledcor, utilising 360-degree cameras to regularly capture on-site data to track project progress, identify bottlenecks, and optimise workflows. Buildots had previously raised around $106 million, with its most recent $60 million tranche coming two years ago. While Intel Capital has invested billions into AI startups over the years, its decision to buy a stake in Buildots is particularly notable now, as its parent company doubles down on efforts to increase its own manufacturing capacity while trying to keep costs in check. Intel revealed plans to invest $20 billion in two new fabrication facilities at its Ocotillo campus in Arizona. Concurrently, Intel also launched a new foundry business aimed at manufacturing chips designed by other companies. These new Arizona factories are expected to be completed by early 2025. Also read: 5 thoughts from The Verge podcast about Ilya Sutskever, AI and Safe Superintelligence Also read: 5 types of AI hardware driving tomorrow’s intelligent machines
Key Points
- Intel Capital is leading a $15 million investment in AI construction startup Buildots, which uses technology to enhance project management efficiency.
- Intel seeks to bolster its foundry ambitions through the investment amid rising construction costs and operational challenges.
Actions
Pending intelligence enrichment.
