Buildots announced that it has raised $16 million in total funding. This series was led by TLV Partners. Other investors include Innogy Ventures, Tidhar Construction Group, Ziv Aviram (co-founder of Mobileye & OrCam), Magma Ventures head Zvika Limon, serial entrepreneurs Benny Schnaider and Avigdor Willenz, as well as Tidhar chairman Gil Geva.
Buildots team is using hardhat-mounted 360-degree cameras to allow project managers at construction sites to get an overview of the state of a project and whether it remains on schedule. The company’s software creates a digital twin of the construction site, using the architectural plans and schedule as its basis, and then uses computer vision to compare what the plans say to the reality that its tools are seeing. With this, Buildots can immediately detect when there’s a power outlet missing in a room or whether there’s a sink that still needs to be installed in a kitchen, for example.
“Buildots have been able to solve a challenge that for many seemed unconquerable, delivering the huge potential for changing the way we complete our projects,” said Tidhar’s Geva in a statement. “The combination of an ambitious vision, great team, and strong execution abilities quickly led us from being a customer to joining as an investor to take part in their journey.”
The company was co-founded in 2018 by Roy Danon, Aviv Leibovici and Yakir Sundry. Like so many Israeli startups, the founders met during their time in the Israeli Defense Forces, where they graduated from the Talpiot unit.
“At some point, like many of our friends, we had the urge to do something together — to build a company, to start something from scratch,” said Danon, the company’s CEO. “For us, we like getting our hands dirty. We saw most of our friends going into the most standard industries like cloud and cyber and storage and things that obviously people like us feel more comfortable in, but for some reason, we had like a bug that said, ‘we want to do something that is a bit harder, that has a bigger impact on the world.’ ”
Danon argues that the construction industry is essentially a manufacturing industry, but with very outdated control and process management systems that still often rely on Excel to track progress.