oculai, a Munich, Germany-based construction tech startup, raised €2.5M in Seed funding.
The round was led by High-Tech Gründerfonds (HTGF), with Bayern Kapital, and Axeleo Capital with participation from Leonard accelerator program and Arno Zinke, former founder and manager of Autodesk and Hexagon, Christoph Jentzsch, former founder and CEO of Slock.it and corpus.ventures, and Tobias Ortmaier.
The company intends to use the funds to invest in advancing its technology and drive its widespread adoption on construction sites.
Founded by Constantin Kauffmann (CEO), Tim Sippl (CTO) and Yannik Mack (CFO/ COO), oculai is a ConTech startup that uses cameras and artificial intelligence to automatically monitor construction processes and progress. Its AI-based software solution uses camera data to detect and automatically document outdoor construction processes. A web app provides users with access to a range of functions including automated target/actual schedules, the automatic drafting of daily construction reports, process KPIs and routes taken by workers. In doing so, it helps enhance transparency and productivity as part of construction projects while also making planning easier.
The startup was formed as part of several founder programmes, such as the Digital Tech Academy, UnternehmerTUM and the Zollhof incubator, and subsequently received funding via the EXIST founder grant. oculai was then officially established in July 2021. Today, the company employs around 20 members of staff.