- Buildots secures $15 million from Intel Capital to expand its AI software aimed at reducing construction delays by up to 50% and improving cost efficiencies.
- Intel Capital’s investment underlines a push to integrate AI into construction management, aiming to revolutionise processes and drive efficiencies across large-scale projects worldwide.
OUR TAKE
Buildots secures $15 million led by Intel Capital to propel AI-driven construction efficiency, promising to streamline global project management with cutting-edge technology integration. This investment heralds a transformative era for traditional industries, marking a significant leap forward in operational precision and cost-effectiveness.
–Jasmine Zhang, BTW reporter
What happened
Buildots, an Israeli startup, secured a $15 million investment led by Intel Capital to advance its AI-driven construction technology. This funding round, which included participation from OG Tech Partners and existing investors, brings Buildots’ total financing to $121 million.
Buildots utilises AI software to enhance efficiency and accuracy in construction projects, aiming to reduce delays by up to 50% and lower costs. CEO Roy Danon emphasised the industry’s lag in digital adoption, highlighting the potential for AI to transform construction management. Intel Capital’s investment underscores its focus on leveraging AI to revolutionise large-scale construction processes globally.
Lisa Cohen, investment director at Intel Capital, highlighted the opportunity to drive new efficiencies in construction through advanced analytics and AI-powered progress tracking. This investment reflects growing interest in applying cutting-edge technology to traditional industries like construction.
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Why it’s important
Buildots’ $15 million investment led by Intel Capital signals a shift in construction technology, leveraging AI to streamline operations and cut costs. This infusion of funds underscores a growing recognition of AI’s transformative potential in traditional industries.
By addressing inefficiencies and errors that plague construction projects, Buildots not only promises to reduce delays but also aims to revolutionise project management methodologies. The collaboration with Intel Capital, known for its innovation in tech solutions, highlights a strategic alignment to drive significant advancements in construction practices globally.
Buildots’ initiative sets a precedent for the role of technology in modernising outdated industries, offering a glimpse into a future where digital tools are redefining how we build and manage our infrastructure. At the same time, issues such as data privacy, workforce migration, and the adaptability of AI solutions in different project environments also need to be addressed.
