Israel AI construction platform Buildots raises $130 million
Israel AI construction platform Buildots raises $130 million JERUSALEM, Sept 14 (Reuters) - Israel's Buildots, an AI-powered platform for the construction industry, said on Monday it raised $130 million in a private funding round.
The financing round brings Buildots' funding to date to $297 million.
It is approaching a valuation of $1 billion but Buildots did not specify an exact amount.
The company says it continues revenue growth that has tripled annually the past few years.
O.G. Venture Partners led the round, with participation from Lightspeed Venture Partners, Intel Capital, Mohari Ventures, Human Capital, Qumra Capital, Avigdor Willenz, Viola Growth and Poalim Equity.
More than 100 of the world's largest firms already use Buildots, it said, including Intel and Digital Realty, as well as construction industry firms such as STO Building Group, JE Dunn, Mortenson, Bouygues and HOCHTIEF.
CEO and co-founder Roy Danon: "Buildots is now used across residential, commercial and – of course – mission-critical projects worldwide, on jobs of every size, from single sites to entire portfolios."
(Reporting by Steven Scheer, Editing by Louise Heavens)
((steven.scheer@thomsonreuters.com; +972 2 632 2210; Reuters Messaging: X: @StevenMScheer))