TLDR:
- Buildots, an AI construction tech startup, raised $15 million led by Intel Capital
- Buildots uses computer vision to create digital twins of construction sites for monitoring and efficiency
Buildots, an AI construction tech startup, secured a $15 million investment round led by Intel Capital, bringing its total raised amount to $121 million. The company utilizes computer vision to generate digital twins of construction sites, enabling engineers to capture on-site data for tracking project statuses, identifying bottlenecks, and streamlining workflows. By measuring the efficiency of individual construction tasks, Buildots provides recommendations for performance improvement and cost reduction, with delays cut by up to 50%. The platform relies on objective site data to offer accurate progress updates and reliable performance metrics, mitigating risks and preventing delays. Buildots aims to transform the construction industry through AI innovation by improving efficiency, reducing costs, and addressing challenges linked to complex projects with various stakeholders. Intel Capital’s investment in Buildots, amidst its significant construction projects globally, underscores the potential for AI to enhance construction operations. The startup’s technology, including the “delay forecast” tool using AI for predicting delays, has shown promise in reducing delay times by 50% and driving notable cost savings. Buildots envisions revolutionizing construction management and driving a performance-driven approach to the industry, alongside other AI construction tech startups like Voyage Control and Dusty Robotics. Intel Capital’s investment director Lisa Cohen emphasized the transformative impact of AI-generated predictive analytics on construction efficiency, foreseeing a more productive future for the global market.
