Indus.AI, a San Francisco, CA-based construction software company using computer vision to track and analyze construction project performance in real-time, raised $8m in Series A funding.
The round was led by Millennium New Horizons with participation from strategic investors Foundamental and Groundbreak Ventures and previous investors Spero Ventures, UP2398, and Bootstrap Labs.
The company intends to use the funds to accelerate product development and expand sales, marketing and customer success services.
Led by Matt Man, CEO and co-founder, Indus.AI utilizes a patent-pending custom neural network trained with images and video streams from close to 100 million square feet of construction sites across the globe to identify inefficiencies and risks that could lead to delays, cost overruns, or safety compliance issues. The solution provides real-time data analytics and insights for owners, developers and project leaders to more effectively manage construction projects.