Buildots, an Israeli startup specializing in building technology, declared on Thursday that it has obtained a $15 million investment, spearheaded by Intel Capital, to facilitate its growth.
Investment leader in Israeli AI construction technology firm Intel Capital Buildots, an Israeli business that specializes in construction technology, revealed on Thursday that it has raised $15 million to further its growth under the leadership of Intel Capital.
Buildots, an Israeli startup focused on building technologies, announced on Thursday that it has secured a $15 million investment led by Intel Capital to support its expansion. The funding round also included participation from prior investors, including OG Tech Partners, bringing Buildots’ total financing raised to $121 million. Buildots is a company that employs artificial intelligence (AI) software to help the construction industry avoid mistakes and inefficiencies that could cause delays in schedule and budget.
According to the corporation, it can cut expenses and delays by as much as 50%. Buildots’ CEO, Roy Danon, stated that the company gives the multitrillion-dollar construction industry—which “has not yet fully benefited from the digital age”—access to AI-powered progress tracking and advanced analytics software. The chipmaker’s venture capital and investment division, called Intel Capital, opens a new tab. According to a statement from Lisa Cohen, investment director at Intel Capital, AI is expected to “revolutionize construction process management and drive new efficiencies” because Intel is working on some of the biggest and most complicated building projects globally.
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