{"id":25250,"date":"2024-03-16T19:27:22","date_gmt":"2024-03-17T02:27:22","guid":{"rendered":"https:\/\/essential.construction\/news\/buildots-raises-16-million-as-it-brings-ai-computer-vision-to-construction-management\/"},"modified":"2024-03-16T19:27:26","modified_gmt":"2024-03-17T02:27:26","slug":"buildots-raises-16-million-as-it-brings-ai-computer-vision-to-construction-management","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/buildots-raises-16-million-as-it-brings-ai-computer-vision-to-construction-management\/","title":{"rendered":"Buildots Raises $16 million as It Brings AI Computer Vision to Construction Management"},"content":{"rendered":"

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Buildots<\/a> announced today that it had secured $16 million in funding to leverage the power of AI to track, analyze and provide actionable data for construction project teams. The company uses hardhat-mounted 360\u00b0 cameras to seamlessly determine the exact status of an ongoing project and provides invaluable insight to contractors.<\/p>\n

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The $3 million seed and $13 million series A rounds were led by TLV Partners with the participation of Innogy Ventures, Tidhar Construction Group, Ziv Aviram, co-founder of Mobileye & OrCam, Magma Ventures head Zvika Limon, serial entrepreneurs Benny Schnaider & Avigdor Willenz, and Gil Geva, chairman of Tidhar.\u00a0<\/p>\n

Tackling Productivity Challenges<\/h2>\n

Productivity in the construction industry has plateaued with researchers estimating<\/a> that 98 percent of megaprojects suffer cost overruns of more than 30 percent and 77 percent are at least 40 percent late.<\/p>\n

Large projects still rely on tedious manual record-taking by project managers who often keep track of hundreds of thousands of tasks and the progress of dozens of contractors.\u00a0<\/p>\n

Buildots uses hardhat-mounted cameras to capture imaging of every detail of an ongoing project during regular site walks. The data is then automatically compared to the design model \u2013 an electricity socket installed even a few inches from where it should be is visible in the dashboard along with a photo \u2013 allowing mistakes or omissions to be corrected immediately at a fraction of what it could cost to rectify them weeks or months later.<\/p>\n

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The Automated Process Management solution created by Buildots compares the collected data with the project\u2019s design & schedule and provides essential tools for general contractors and developers to track their projects and make better decisions. The dashboard displays the percentage of the project completed broken down by each trade while also consolidating and allowing for the easy tracking of the loose ends that need to be completed. These functionalities, and others, integrate with existing construction management tools.\u00a0<\/p>\n

\u201cIn the short time since we started rolling out our product, the immense value it brings to the industry has become clear,\u201d said Roy Danon<\/strong>, CEO of Buildots. \u201cAny efficient process must have proper controls in place, but till now, automatic process control has been impossible to implement in construction. Thanks to the latest advancements in the fields of AI and computer vision, we\u2019ve been able to bring modern systems that are ubiquitous in other industries, to construction.\u201d<\/p>\n