TLDR:
– Intel Capital led a $15 million investment in Israeli AI construction tech startup Buildots
– Buildots uses AI software to help the construction sector overcome inefficiencies and prevent errors that could lead to schedule delays and budget discrepancies
Intel Capital has led a $15 million investment in Israeli construction technology startup Buildots, with participation from OG Tech Partners and previous investors, bringing Buildots’ total financing to $121 million. Buildots utilizes artificial intelligence (AI) software to enhance efficiency and accuracy in the construction sector, reducing costs and delays by up to 50%. The company’s CEO, Roy Danon, highlighted the potential for AI-powered progress tracking and analytics to revolutionize the construction industry, which has not fully embraced digital advancements. Lisa Cohen, investment director at Intel Capital, emphasized the potential for AI to optimize construction project management and drive efficiencies, especially in large-scale complex projects. Intel’s investment in Buildots reflects its commitment to leveraging technology to enhance the construction process.
