Buildots Secures $45M to Revolutionize Construction Progress Tracking with AI

Buildots, a Chicago-based startup, has raised $45 million in a Series D funding round to further develop its AI-powered platform for tracking construction progress. The funding was led by Qumra Capital, with participation from OG Venture Partners, TLV Partners, Poalim Equity, Future Energy Ventures, and Viola Growth. This brings the company’s total funding to $166 million.

Founded in 2018 by Roy Danon, Aviv Leibovici, and Yakir Sudry, Buildots utilizes AI and computer vision to provide construction managers with real-time insights into on-site progress. The platform processes images captured from 360-degree cameras mounted on managers’ hard hats to track progress, forecast potential delays, and optimize project performance.

According to Roy Danon, Buildots’ CEO, the system allows construction executives and site managers to make informed decisions based on measurable data, replacing traditional methods that rely on disparate and often unreliable information sources. Buildots’ clients include Intel and around 50 construction firms.

The new funding will primarily be used to expand Buildots’ product offerings to cover more stages of the construction lifecycle. The company plans to use historical data to train AI models that can further benchmark and optimize construction project performance.

Buildots’ platform features a chatbot that allows teams to ask questions about a project’s status, as well as a predictive tool that alerts them to potential delay risks or pacing issues.

Buildots faces competition from other AI-driven construction tech companies, such as BeamUp, which focuses on AI-powered building design, and Versatile, which, similar to Buildots, analyzes data across construction sites to monitor progress.

With over 230 employees, Buildots is one of the larger players in the construction tech space and plans to expand its North American operations, focusing on growing its R&D teams this year.

Danon emphasized that Buildots’ operations-focused platform and approach to performance management in construction set it apart from competitors. He believes the funding validates the market’s readiness for the transformation Buildots is bringing to the construction industry.