TLDR:
- Israeli AI construction tech startup Buildots receives $15 million investment led by Intel Capital
- The investment will help Buildots grow and revolutionize the construction sector with AI-powered software
Israeli construction technology startup Buildots announced a $15 million investment led by Intel Capital to support its growth and innovation in the construction sector. This funding round, which also involved participation from OG Tech Partners and previous investors, brings Buildots’ total financing to $121 million. Using artificial intelligence (AI) software, Buildots aims to address inefficiencies in the construction industry and prevent errors that can cause schedule delays and budget discrepancies. By integrating AI-powered progress tracking and advanced analytics software, Buildots has shown the potential to reduce costs and delays by up to 50%.
Buildots’ CEO, Roy Danon, emphasized the company’s mission to bring the digital age to the multitrillion-dollar construction industry, which has yet to fully leverage technological advancements. Intel Capital’s investment reflects its belief in the transformative potential of AI in construction process management and efficiency improvement. Lisa Cohen, investment director at Intel Capital, highlighted Intel’s involvement in large and complex construction projects globally, positioning AI as a key driver for revolutionizing the industry.
As Buildots continues to advance its AI-based solutions for the construction sector, the partnership with Intel Capital and other investors signals a growing interest in leveraging technology to address longstanding challenges in the industry. With the promise of cost reduction, efficiency improvement, and error prevention, Buildots’ innovative approach to construction technology holds significant potential for reshaping the way projects are managed and executed in the future.
