The funding will help Buildots to accelerate its expansion plans and grow its team size. Here are the top-line bullets you need to know.
Buildots, a construction technology startup, has raised $30M in a Series B. The round drew participation from Lightspeed Venture Partners, Israel Innovation Authority, TLV Partners, and Maor Investments, among others.
HOW’S THE COMPANY PERFORMING?
- Israel-based Buildots is an AI-backed platform that automates and streamlines construction projects. The platform primarily caters to building and construction companies.
- The company’s client base includes several major construction companies in 13 countries such as the US, the UK, Germany, Switzerland, Scandinavia, and Hong Kong. Its clients include Build Group, MBN, Gammon, and Wates.
Buildots has offices in London and Tel Aviv.
WHY DOES THE MARKET MATTER?
- The global construction software market is projected to grow at a CAGR of 8.8% to reach a value of $2.72B by 2027, according to Market Research Future Reports.
- Construction companies have opted for technological assistance to meet the need for increased work efficiency and cost reduction in management and time.
- The Covid-19 outbreak has ignited the need for virtual site visits, driving demand for digitization technologies.