Buildots Secures $45M to Enhance AI Construction Tracking

Buildots Raises $45M for AI-Driven Construction Progress Tracking

Construction project management can be complex, with managers often struggling to stay on top of progress, costs, and potential risks. Buildots offers an AI-powered solution to address these challenges.

Founded in 2018, the Chicago-based startup provides a platform that uses computer vision to monitor construction progress. 360-degree cameras mounted on hard hats capture images, which are then processed by the platform. This data allows the system to not only track current progress but also forecast potential delays and pacing issues.

Teams can access project status information via a chatbot and utilize predictive tools to identify potential problems before they become costly. This data-driven approach empowers construction managers and executives to make informed decisions based on real-time insights.

“It’s transformative for site managers, construction executives, and other stakeholders,” said Roy Danon, CEO of Buildots. “They’re able to make informed decisions based on real, measurable data.”

Buildots recently secured $45 million in Series D funding, bringing its total funding to $166 million. The round was led by Qumra Capital, with participation from OG Venture Partners, TLV Partners, Poalim Equity, Future Energy Ventures, and Viola Growth.

The new funding will be used to expand the platform's capabilities to cover more stages of the construction lifecycle. Buildots plans to leverage historical data to train AI models for improved benchmarking and optimization of construction project performance.

Competition and Future Growth

Buildots is not alone in applying AI to construction. Other companies in the space include BeamUp, an AI-powered building design platform, and Versatile, which also uses data analysis to track construction progress.

With over 230 employees, Buildots is a significant player in the industry. The company plans to expand its North American operations this year, focusing on growing its R&D teams.

“Our differentiation is strong due to our operations-focused platform and our approach to performance management in construction,” Danon said. “The funding will accelerate all of our initiatives, but more importantly, it validates that the market is ready for the transformation that we’re bringing.”