Buildots, a Tel Aviv, Israel and London, UK-based AI construction tech company, raised $30m in Series B funding.
The round was led by Lightspeed Ventures with participation from previous investors TLV Partners, Future Energy Ventures, Tidhar Construction Group and Maor Investments.
The company will use the new funds to double the size of its global team with a focus on its Sales and R&D departments.
Founded in 2018 by Roy Danon, CEO, Buildots provides construction companies with an end-to-end solution that allows project managers to get control of every activity on the construction site. Its AI algorithms automatically validate images captured by hardhat-mounted 360° cameras, detecting any gaps between the original design, scheduling and the reality on the construction site. The platform acts as a mobile control room for project managers, allowing them to make decisions that dramatically speed up construction and ultimately reduce costs.
Buildots has recently announced that their technology is being used to reduce costs and enhance output on a slew of major construction projects being led by top building companies around the world. These include Build Group in California & Washington state, MBN in Germany, Gammon in Hong Kong, Wates in the UK and further announcements expected in the coming months.