Israel-based construction imaging system provider Buildots has secured $16m in funding from investors including real estate developer Tidhar Construction and Innogy Ventures, a corporate venturing unit for energy utility Innogy.
The capital is made up of a $13m series A round and $3m in seed funding. Venture capital firm TLV Partners led both rounds, participating alongside angel investors Zvika Limon, Ziv Aviram, Benny Schnaider, Avigdor Willenz and Tidhar Construction chairman Gil Geva.
Founded in 2018, Buildots has built a software platform that enables contractors to capture images of construction projects using hardhat-mounted cameras. Its cloud dashboard then uses artificial intelligence to compare the images to blueprints to flag up mistakes and estimate a project’s progress toward completion.
Buildots chief executive Roy Danon said: “In the short time since we started rolling out our product, the immense value it brings to the industry has become clear.
“Any efficient process must have proper controls in place, but until 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 have been able to bring modern systems that are ubiquitous in other industries, to construction.”