Today (Thursday), Israeli startup Buildots, which develops monitoring systems for better construction management, announces a $12.5 million Series A funding round. The investment was led by Israeli VC TLV Partners, while Innogy Innovation Hub; Tidhar Construction Company; OrCam and Mobileye founder, Ziv Aviram; Magma VC partner, Zvi Limon; Tidhar Group Chairman Gil Geva; and serial entrepreneurs Benny Schnaider and Avigdor Willenz. In addition, the construction-tech startup also received support from Israel Innovation Authority.
Analyzing images for a 360-degree update on the construction process
Buildots’ system provides construction site project managers a comprehensive status update, regarding the various on-site projects. It works like this, the project managers wander around the site all day anyways, so Buildots said why not fit their hard hats with advanced 360-degree cameras that will constantly feed construction management with updates on the different projects on-site, allowing them to monitor progress from a virtual control center and be alerted to any setbacks or scheduling conflicts. The data collected is analyzed and split up into different factors - based on work zones, expertise, scheduling, and others. The incoming imaging and data are then compared with the original project plans and schedules to determine if any abnormalities appear. By receiving this insight earlier in the process enables adjustment and repair before it’s too late.
The collected data’s use is not served with strictly finding building defects but also helps support site management decisions, which oftentimes are based on out-of-date inaccurate information. The startup’s system is easily integrated into existing programs used by the industry including software environments, scheduling applications, and other programs.
CEO Roy Danon told Geektime that the system is entirely automated, erasing the need to report to a human overseer, meaning every construction delaying alert will come the Israeli startup’s AI-powered system.
“The construction industry has gone through a major revolution over the past few years, transitioning from 2D modeling and designing to 3D modeling has definitely been a gamechanger. The system analyzes images from cameras carried on the hard hats of the foremen against the 3D modeling of the project and compares using AI models that the construction process is going according to plan. The company trained the AI models based on thousands of video hours and dozens of construction sites in an effort to successfully analyze the images despite the chaotic noise coming from the construction site,” Danon further expands.
He also got talking about the funding round, noting that “The latest investment shows a true vote of confidence from both new and existing investors in Buildots’ vision and crew. It will further allow us to develop our product and expand into different markets, reaching new potential clients.”
Buildots was founded in 2018 by Roy Danon, Yakir Sudry, and Aviv Leibovici. The company has 35 employees split between offices in Tel Aviv and London. Including this latest Series A round, the company has raised a total of $16 million up-to-date, with the previous Seed round investment going unannounced. The company plans to invest the new funds into further enhancing the system’s connectivity into the construction management environment, as well as expanding operations in Europe and the U.S.