TLDR:
- Intel Capital leads a $15 million investment in Israeli construction technology startup Buildots.
- Buildots uses AI software to improve efficiency and reduce delays in the construction sector.
Israeli construction technology startup Buildots has announced a $15 million investment led by Intel Capital, with participation from OG Tech Partners and previous investors. This funding round brings Buildots’ total financing raised to $121 million. The company utilizes artificial intelligence (AI) software to help the construction sector overcome inefficiencies and prevent errors that can lead to schedule delays and budget discrepancies. Buildots claims that its technology can reduce delays by up to 50% while lowering costs. CEO Roy Danon highlighted the importance of integrating AI-powered progress tracking and advanced analytics software into the construction industry, which he believes has not fully embraced the digital age.
Intel Capital, the venture capital and investment arm of chipmaker Intel, sees potential in AI to revolutionize construction process management and drive new efficiencies. Lisa Cohen, investment director at Intel Capital, emphasized the importance of leveraging AI in construction, particularly for large and complex projects. By investing in Buildots, Intel aims to support the development and implementation of innovative technology solutions in the construction industry.
