Intel is strengthening its foundry ambitions with a strategic investment in an AI construction startup based in Israel and the U.K., revealed by its venture capital arm today.
Intel Capital is leading a $15 million investment in Buildots, a company utilizing AI and computer vision to create a digital twin of construction sites. Buildots partners with construction industry giants like Pomerlau, NCC, and Ledcor, providing them with 360-degree cameras to capture on-site data for tracking project progress, identifying bottlenecks, and optimizing workflows.
Having previously raised around $106 million, including a $60 million tranche two years ago, Buildots is a six-year-old company innovating in the construction space.
With Intel focusing on expanding its manufacturing capacity, particularly through new fabrication facilities and its foundry business, the investment in Buildots aligns with Intel’s drive for efficiency amid construction projects worldwide.
The partnership between Intel and Buildots comes at a critical time as Intel grapples with production challenges and aims to optimize its construction processes.
Efficiencies
As Intel invests substantially in construction across multiple states, Intel’s Foundry business faces losses and regulatory obstacles that impact its manufacturing goals. Intel’s collaboration with Buildots aims to enhance project management and operational efficiency through AI technology.
Buildots’ AI-powered “delay forecast” feature, designed to predict potential delays and mitigate them preemptively, has demonstrated its effectiveness in reducing delay times by up to 50% in beta testing on major construction sites.
By leveraging AI and technology, Intel and Buildots aim to revolutionize construction processes and drive efficiencies to new heights, addressing challenges faced in the industry.
Investing in technologies like Buildots’ AI solutions reflects Intel’s commitment to innovation and improvement in construction management.
The partnership’s potential impact on Intel’s construction projects and overall operational efficiency underscores the significance of integrating advanced technologies in traditional industries.
