Buildots Secures $16m in Funding to Leverage the Power of AI to Construction Management

Buildots has secured $16m in funding to leverage the power of AI to track, analyse and provide actionable data for construction project teams. 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. Productivity in the construction industry has plateaued with researchers estimating that 98% of megaprojects suffer cost overruns of more than 30% and 77% are late. Buildots uses hardhat-mounted cameras to capture imaging on details of an ongoing project during regular site walks. The data is then automatically compared to the design model, allowing mistakes to be rectified immediately at a fraction of what it could cost to correct them weeks or months later. Roy Danon, CEO of Buildots, said: “Any efficient process must have proper controls in place, but till now, automatic process control has been impossible to implement in construction.