- Buildots, an Israeli company pioneering AI building software, secured a substantial $15 million investment.
- Buildots’ technology automates the tracking of progress and performance metrics, supplying decision-makers with accurate data for risk prediction and reduction.
OUR TAKE
Buildots is revolutionising construction with AI technology, enhancing efficiency and performance. Its advanced analytics mitigate delays and costs, marking a significant step in industry improvement. Intel’s investment signals confidence in Buildots and underscores construction’s path towards digital transformation and enhanced productivity.
–Dolly Huang, BTW reporter
What happened
Israel-based innovative Buildots, a pioneering company focused on the development of artificial intelligence building software, recently announced that it has successfully raised a massive investment of $15 million.
The financing was led by Intel Capital, a unit of tech giant Intel, and was backed by OG Tech Partners and existing investors. Lisa Cohen, chief investment officer at Intel Capital, will join the Buildots Board as an observer, recognising the potential of artificial intelligence to revolutionise construction management.
This strategic investment not only demonstrates the market’s confidence in Buildots’ technical strength, but also pushes its total funding to a new high of $121 million, laying a solid foundation for continued innovation and future growth.
Buildots plans to use this new funding to further enhance its core construction management platform capabilities while accelerating its market expansion to serve the global construction industry more broadly and drive the adoption and application of intelligent construction management.
Despite suspending a $25 billion semiconductor factory plan in June, Intel’s ongoing investments in Israel, like in Buildots, demonstrate its commitment to the country’s tech innovation. Intel also received a $3.2 billion government award for a chip plant in southern Israel.
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Why it’s important
Roy Danon, its co-founder and CEO, stressed that Intel’s investment is a profound insight into the construction industry as a cornerstone of the global economy that has yet to fully embrace digital transformation.
Buildots, is driving a paradigm shift towards greater efficiency and optimised performance leveraging its state-of-the-art artificial intelligence technology.
Their AI-powered progress tracking and advanced analytics capabilities are highly regarded for their exceptional supervisory prowess. These innovative features have proven vital in mitigating project delays, trimming unnecessary expenses, and tackling the persistent challenges that have plagued the construction industry for years.
Buildots has been at the forefront of technology for the past five years, integrating AI-powered solutions deeply into this large market. It not only revolutionises progress tracking, but also provides decision-makers with powerful data through automated performance metrics analysis to help them more accurately predict risks, optimise decisions, and lead the construction industry to a more performance-driven future.
