Kwant AI, a New York-based software company that focuses on supporting industrial job sites, raised $3.9M in Seed funding.
The round was led by LAUNCH, Fairstead, Pearl Fund, 7BC Venture Capital, Forefront Ventures, Martinson ventures, and Serra Ventures.
The company intends to use the funds to facilitate customer expansion, scaling the platform, and staff hiring.
Kwant provides a solution that deploys smart-wearable badges and equipment trackers for project sites in construction, mining, manufacturing, and critical infrastructure where tradespeople, materials, and equipment are routinely monitored. The company uses deep learning for accurate x, y, and z positioning of workers and assets. Then, Kwant AI groups unstructured data using artificial intelligence algorithms to detect patterns in thousands of project data sets, helping provide quality recommendations on road mapping.
The platform supports customers, partners, and some of the largest builders in the world like Delta, DPR, Walbridge, Moretenson, Gilbane, Paric, McCarthy, Alberici, Comcast, and Wesco across airports, electric vehicle factories, roads, data centers, and commercial buildings with a portfolio value of over $60bn.
The solution is proven to work in large deployments such as the new airports in New York, EV factories in Detroit and Tennessee with over 10,000 construction workers using the technology daily.