CONSTRU RAISES $3M IN SEED FUNDING ROUND
TEL AVIV, ISRAEL, AUGUST 2019 -Today, Constru proudly announces the closure of the seed round, led by San Francisco-based NFX.
Founded by Michael Sasson, Shalom Bellaish, Ron Zass, and Moshe Nachman, Constru brings advanced AI to the construction field and addresses inefficiency in the construction process. The company provides real-estate developers, construction project managers, and financial institutions with ongoing machine-vision-based site-inspection and monitoring. The solution is based on a breakthrough computer vision technology that digitizes the execution process on-site.
Gigi Levy-Weiss, a Managing Partner at NFX said: “There are three major reasons we’ve invested in Constru – it serves a market with large potential for disruption, it’s a proven product-market fit, and finally there’s an exceptional founding team with complementary strengths and engineering focus.”
“We are here to make the construction process efficient and smart. The investment will bring us to the next level in providing this breakthrough computer-vision technology. We believe this is the key to transforming construction projects into Big Data and helping address the weak points of the sector. Together with NFX, we are set to change forever the way construction projects are executed and managed,” shared Constru CEO, Michael Sasson.
Constru is the true, end-to-end solution that connects the dots along the entire construction process, thus reinvents the industry. In-depth understanding and valuable insights are achieved by seeing and sensing the critical construction stages and enabling a feasible impact in each one of them. The combination of advanced technology and relevant on-site digital documentation brings unmatched competitive advantage with transparency by design. The system, already deployed with leading construction companies, collects 360˚ spherical images and extracts relevant items, effectively digitizing the construction process. The information is then fused with design, budget and schedule data, and advanced analytics applied to produce engineering & business intelligence. The findings are provided to on-site construction and management teams. The teams and stakeholders receive a clear and concurrent picture of the project status at each stage, including the outline for critical errors and possible risks of budget and schedule overrun.