Israeli AI construction technology startup, Buildots, recently announced a significant milestone in its growth journey. The company revealed that it secured a $15 million investment, with Intel Capital leading the funding round. This strategic investment aims to support Buildots in expanding its innovative solutions further.
With previous investors and OG Tech Partners also participating in this financing round, the total raised by Buildots now amounts to $121 million. The company’s core offering lies in using artificial intelligence (AI) software to address inefficiencies within the construction sector. By leveraging AI-powered progress tracking and advanced analytics, Buildots helps prevent errors that could potentially lead to project delays and budget overruns.
Buildots’ cutting-edge technology not only reduces costs for construction projects but also decreases delays by up to 50%. Roy Danon, the CEO of Buildots, emphasized the significance of integrating AI solutions into the construction industry, which has yet to fully embrace the digital age.
Intel Capital’s investment in Buildots underscores the growing interest in utilizing AI to revolutionize construction processes and drive efficiency. Lisa Cohen, an investment director at Intel Capital, highlighted the potential for AI to transform project management in the construction sector, particularly for large-scale and complex endeavors undertaken by Intel.
Overall, Buildots’ latest funding round marks a significant step forward for the company as it continues to innovate within the construction technology space, harnessing the power of AI to streamline operations, reduce costs, and enhance project outcomes.
