Kewazo, a Munich, Germany-based construction technology company, raised $5M in Series A funding.
The round was led by True Ventures with participation from MIG AG.
The company intends to use the funds to expand operations and its business reach.
Led by Artem Kuchukov, CEO, Kewazo digitizes construction with robotics and data analytics. The company integrates robotics platform LIFTBOT on-site to enable further digital services. Alongside the robotic system, LIFTBOT also collects operational data and provides it to customers in the form of a data analytics platform to enhance transparency and project management.
The first batch of LIFTBOTs has been delivered to key customers in the EU markets. Prospective projects worldwide include scaffolding assembly at greenfield projects and maintenance jobs at construction sites, oil and gas refineries, power plants, and shipbuilding yards. Kewazo has completed more than 40 pilot and test projects, and has delivered robots to major customers like Bilfinger, a European industrial service provider, on oil and gas sites in Germany.
Those insights aid planning and improve profitability, and customers benefit from faster, more predictable projects.