Israeli startup Swapp, an AI-driven platform for construction planning, announced a $7 million Seed round. The investment was led by Point72 Ventures and Entrée Capital, with participation from existing investors.
A complete construction plan in weeks
Swapp's AI platform helps real estate developers and construction companies control every phase of their project planning process. In addition to generating, optimizing, and iterating design options, Swapp's platform also supports construction coordination of structural, architectural, engineering, mechanical, electrical, and plumbing (MEP) plans and produces detailed construction drawings and design models according to customers' needs and requirements.
The company also notes that its platform opens users to AI-powered planning, financial estimation and detailed construction documentation. This enables construction companies and developers to start construction within weeks, rather than months. The platform creates a complete and detailed blueprint and plan to get construction starting within a few weeks instead of the traditional 9-month process, and therefore save developers time and money.
Swapp was founded in 2019 by CEO Eitan Tsarfati, CSO Noam Shavitand CTO Noam Gat. Tsarfati, a veteran entrepreneur, who in 2012 sold his startup CmyCasa to Autodesk. Tsarfati held the reins at Autodesk Israel until he founded Swapp. The company has 20 employees and is already working with real estate developers and construction companies in the U.S. and the U.K.
Tsarfati looks to build on the success of the Seed round: "For the first time in the history of construction, real estate developers and construction companies can use a single platform to build their entire construction planning project and begin work within weeks instead of 9-12 months. We are already working with some of the biggest names in the construction industry to replace the slow, tedious, and inflexible construction planning process with our smart, efficient, and flexible, planning solution. This investment will help us grow our customer base and expand our AI capabilities to advance the future of construction planning."