All the sessions from Transform 2021 are available on-demand now. Watch now.
Buildots, a construction digital twin company, garnered a $30 million series B round led by Lightspeed Ventures, bringing its total investment to $46 million. Buildots will use the new funds to double the size of its global team, focusing on sales and R&D to expand its digital twins efforts, which use process mining techniques to improve outcomes as construction trades go digital.
The new funding will support our ambitious growth plans for 2021-2022, including extending our existing sales team and opening new territories, Buildots cofounder and CEO Roy Danon told VentureBeat.
It will also support additional enhancements to the product, such as supporting more project workflows, integrations with other ecosystem players, and [fine-tuning] our AI to provide more critical insights to our clients, he continued.
Buildots has early customers in 13 different countries, including Build Group in California and Washington state, MBN in Germany, Gammon in Hong Kong, and Wates in the U.K. Previous investors include TLV Partners, Future Energy Ventures, and Tidhar Construction Group.
While other companies focus on the design or presentation of 3D construction data, Buildots specializes in operationalizing it. Buildots has concentrated on the gap between existing tools for design, scheduling, document management, and process controls that provide visibility into whats happening on construction sites. The company focuses on higher-frequency updates and greater detail.
Founded in 2018, Buildots aims to improve the user experience for workers and managers. Its special sauce lies in streamlining and automating the reality capture process using hardhat-mounted 360-degree cameras.
The Buildots tools bring process mining techniques to construction projects. The software is able to track the exact process by which construction projects are built for the first time, Danon said. Connecting these process models with the original design and schedule information is intended to help managers learn more about bottlenecks in their existing processes and how to get them right the first time.
In the background, Buildots AI algorithm double-checks new work against the plan, tracks progress, and updates an as-built digital twin model. The granularity of information in Buildots enables teams to drill down on any issue found on-site and take immediate actions to keep the project on budget and on schedule.
A projects current state is captured on an ongoing basis through cameras while teams make incremental changes. Proprietary AI and computer vision algorithms fuse this data with the latest design and scheduling plans and update the platforms internal digital twin.
For example, one European company using Buildots discovered that its concrete finishing team was proceeding much more slowly than the partition building team. This created a bottleneck for the construction of new floors.
The Buildots application alerted managers to the problem. Then it helped them formulate a new plan that diverted workers away from building partitions to finishing the concrete, which reduced delays for everyone.
The platform can also identify quality gaps between the plan and what was actually built. It is common for humans to miss some elements when manually comparing building documents to what they see.
Manual tracking processes tend to be infrequent; have low granularity; and rely on peoples objectivity, skill, and attention to detail. Once such processes are automated, teams capture details more frequently, which reduces the delays in resolving problems. It is also possible to drill down into construction progress at the level of an individual socket and its different stages of installation.
For example, the two images below show a 3D model of the plan on the right and a white outline where the application detected a missing outlet.
While this isnt a huge deal for any given outlet, on the average project, we spot a missing element for every 50 to 100 square meters, Danon said. Averting hundreds of those issues can lead to a substantial efficiency improvement.
Above: Here, software detected an overlooked power outlet requirement.
Image Credit: Buildots
The focus on updating and auditing the data trail across the lifecycle of a project is another key feature. Existing market solutions such as PlanGrid, Procore, and others have already paved the way for construction teams now using mobile apps on the construction site. Todays engineers and managers are generally comfortable using iPads or web applications in their day-to-day work.
But all these tools require someone to enter data manually. In contrast, Buildotsapproach to digital twins automates this process and connects the data to an audit trail woven into AI models. This transparency allows construction teams to understand how conclusions about a particular project scheduling problem were reached.
We have built our platform with the principle of transparent AI, meaning that every conclusion the system makes can be drilled down into so that construction managers can develop trust with their new virtual team members, Danon said.
Read more here:
Buildots boosts digital twin process mining with $30M - VentureBeat
- Electric Vehicles for Construction, Agriculture and Mining Market 2020 | In-Depth Study On The Current State Of The Industry And Key Insights Of The... [Last Updated On: November 11th, 2020] [Originally Added On: November 11th, 2020]
- Robotic process automation market Business Opportunities and Future Strategies with Major Vendors | Celaton Ltd., Redwood Software, Uipath SRL, Verint... [Last Updated On: November 11th, 2020] [Originally Added On: November 11th, 2020]
- Tissue Expander Market: Projected To Witness Vigorous Expansion By 2020 2026 | Sientra, Inc.; GC Aesthetics; KOKEN CO.,GROUPE SEBBIN SAS -... [Last Updated On: November 11th, 2020] [Originally Added On: November 11th, 2020]
- Insulation Coating Market: Report Offers Intelligence And Forecast Till 2020 2027 | Sharpshell Industrial Solution, The Dow Chemical Company -... [Last Updated On: November 11th, 2020] [Originally Added On: November 11th, 2020]
- Surgical Snare Market: Size, Analytical Overview, Growth Factors, Demand, Trends And Forecast To 2020 2026 | CONMED Corporation, Cook, Medline... [Last Updated On: November 11th, 2020] [Originally Added On: November 11th, 2020]
- Edge Data Center Market Trends And Opportunities By Types And Application In Grooming Regions; Edition 2020-2026 - Zenit News [Last Updated On: November 11th, 2020] [Originally Added On: November 11th, 2020]
- Data Warehousing Market is Expected to Grow at an active CAGR by Forecast to 2028 - Zenit News [Last Updated On: November 11th, 2020] [Originally Added On: November 11th, 2020]
- Artificial Intelligence in Big Data Analytics and IoT Markets, 2025 - AI Makes IoT Data 25% More Efficient and Analytics 42% More Effective for... [Last Updated On: November 11th, 2020] [Originally Added On: November 11th, 2020]
- Lifesciences Data Mining And Visualization Market 2020 | Forecast to 2027 with Focusing on Major Players - TechnoWeekly [Last Updated On: November 11th, 2020] [Originally Added On: November 11th, 2020]
- United States Electronics Health Records (EHR) Market Outlook and Forecast 2020-2025 with In-depth Analysis and Data-driven Insights on the Impact of... [Last Updated On: November 11th, 2020] [Originally Added On: November 11th, 2020]
- Feature selection and risk prediction for patients with coronary artery disease using data mining - DocWire News [Last Updated On: November 11th, 2020] [Originally Added On: November 11th, 2020]
- Global Lifesciences Data Mining and Visualization Market 2020 Analysis, Types, Applications, Forecast and COVID-19 Impact Analysis 2025 - The Daily... [Last Updated On: November 11th, 2020] [Originally Added On: November 11th, 2020]
- Data Mining Tools Market Growth Prospects, Key Vendors, Future Scenario Forecast 2027 IBM Corporation, SAS Institute Inc., RapidMiner, Inc., KNIME AG,... [Last Updated On: November 11th, 2020] [Originally Added On: November 11th, 2020]
- Data Mining Tools Market A Latest Research Report to Share Market Insights and Dynamics to 2028 - TechnoWeekly [Last Updated On: November 11th, 2020] [Originally Added On: November 11th, 2020]
- Global Data Mining Software Market 2020 | Know the Companies List Could Potentially Benefit or Loose out From the Impact of COVID-19 | Top Companies:... [Last Updated On: November 11th, 2020] [Originally Added On: November 11th, 2020]
- Transaction monitoring: Poor data highlights need to invest in tech - Euromoney magazine [Last Updated On: November 16th, 2020] [Originally Added On: November 16th, 2020]
- Sensyne Health agreement with Somerset NHS Foundation Trust helps business achieve a major landmark - Proactive Investors UK [Last Updated On: November 16th, 2020] [Originally Added On: November 16th, 2020]
- How TikTok could be used for disinformation and espionage - CBS News [Last Updated On: November 16th, 2020] [Originally Added On: November 16th, 2020]
- Social app Parler apparently receives funding from the conservative Mercer family - The Verge [Last Updated On: November 16th, 2020] [Originally Added On: November 16th, 2020]
- Biological Data Visualization Market Analysis, COVID-19 Impact,Outlook, Opportunities, Size, Share Forecast and Supply Demand 2021-2027|Trusted... [Last Updated On: November 22nd, 2020] [Originally Added On: November 22nd, 2020]
- The Weirdest Objects in the Universe | Space - Air & Space Magazine [Last Updated On: November 22nd, 2020] [Originally Added On: November 22nd, 2020]
- Epiroc introduces the RCS 4.20 Rig Control System for Pit Viper rigs - MINING.com [Last Updated On: November 22nd, 2020] [Originally Added On: November 22nd, 2020]
- Operating Systems Market Overview, Development by Companies and Comparative Analysis by 2026 - Cheshire Media [Last Updated On: November 22nd, 2020] [Originally Added On: November 22nd, 2020]
- Feed Binders Market Segments by Product Types, Manufacturers, Regions and Application Analysis to 2026 - The Think Curiouser [Last Updated On: November 22nd, 2020] [Originally Added On: November 22nd, 2020]
- Advanced Analytics Market Analysis, COVID-19 Impact,Outlook, Opportunities, Size, Share Forecast and Supply Demand 2021-2027|Trusted Business Insights... [Last Updated On: November 22nd, 2020] [Originally Added On: November 22nd, 2020]
- Data Center Infrastructure Market 2026 Growth Forecast Analysis by Manufacturers, Regions, Type and Application - The Daily Philadelphian [Last Updated On: November 22nd, 2020] [Originally Added On: November 22nd, 2020]
- Fog Computing Market Report Aims To Outline and Forecast , Organization Sizes, Top Vendors, Industry Research and End User Analysis By 2026 - Cheshire... [Last Updated On: November 22nd, 2020] [Originally Added On: November 22nd, 2020]
- Global Trend Expected to Guide Data Center Colocation Market from 2020-2026: Growth Analysis by Manufacturers, Regions, Type and Application - PRnews... [Last Updated On: November 22nd, 2020] [Originally Added On: November 22nd, 2020]
- Cybercrime To Cost The World $10.5 Trillion Annually By 2025 - GlobeNewswire [Last Updated On: November 22nd, 2020] [Originally Added On: November 22nd, 2020]
- Peloton Collaborates with Sfile Technology | Texas | tylerpaper.com - Tyler Morning Telegraph [Last Updated On: November 22nd, 2020] [Originally Added On: November 22nd, 2020]
- Global Wireless Charger Market 2026 Trends Forecast Analysis by Manufacturers, Regions, Type and Application - The Daily Philadelphian [Last Updated On: November 22nd, 2020] [Originally Added On: November 22nd, 2020]
- EHR market expected to grow 6% per year through 2025 - Healthcare IT News [Last Updated On: November 22nd, 2020] [Originally Added On: November 22nd, 2020]
- Gordon Bell Prize Winner Breaks Ground in AI-Infused Ab Initio Simulation - HPCwire [Last Updated On: November 22nd, 2020] [Originally Added On: November 22nd, 2020]
- Lifesciences Data Mining and Visualization Market: Global Industry Analysis and Opportunity Assessment 2016-2026, Tableau Software,SAP SE,IBM,SAS... [Last Updated On: November 22nd, 2020] [Originally Added On: November 22nd, 2020]
- Data Mining Tools Market Includes Important Growth Factor with Regional Forecast, Organization Sizes, Top Vendors, Industry Research and End User... [Last Updated On: November 22nd, 2020] [Originally Added On: November 22nd, 2020]
- Lifesciences Data Mining And Visualization Market jump on the sunnier outlook for growth despite pandemic - The Think Curiouser [Last Updated On: November 22nd, 2020] [Originally Added On: November 22nd, 2020]
- Data Mining Software Market 2020 to Global Forecast 2023 By Key Companies IBM, RapidMiner, GMDH, SAS Institute, Oracle, Apteco, University of... [Last Updated On: November 22nd, 2020] [Originally Added On: November 22nd, 2020]
- Plant-Based Meat Market with Latest Research Report And Growth By 2026 Market Analysis, Size, Share, Trends, Key Vendors, Drivers And Forecast - The... [Last Updated On: November 28th, 2020] [Originally Added On: November 28th, 2020]
- STREAMING ANALYTICS MARKET OVERVIEW: SIZE, SHARE AND DEMAND IN UPCOMING DECADE The Courier - The Courier [Last Updated On: November 28th, 2020] [Originally Added On: November 28th, 2020]
- Portable Fire Extinguisher Market (COVID-19 Analysis): Indoor Applications Projected to be the Most Attractive Segment during 2020-2026 - The Courier [Last Updated On: November 28th, 2020] [Originally Added On: November 28th, 2020]
- BIG DATA AND BUSINESS ANALYTICS MARKET ADVANCED TECHNOLOGY AND NEW INNOVATIONS BY 2026 IBM, ORACLE, MICROSOFT, SAP The Market Feed - The Market Feed [Last Updated On: November 28th, 2020] [Originally Added On: November 28th, 2020]
- Insights on the Oil Condition Monitoring Global Market to 2027 - Strategic Recommendations for New Entrants - Benzinga [Last Updated On: November 28th, 2020] [Originally Added On: November 28th, 2020]
- Insights on the Adaptogens Global Market (2020 to 2027) - Strategic Recommendations for New Entrants - PRNewswire [Last Updated On: November 28th, 2020] [Originally Added On: November 28th, 2020]
- These 2 IPO Stocks Are Crushing the Stock Market on Wednesday - The Motley Fool [Last Updated On: November 28th, 2020] [Originally Added On: November 28th, 2020]
- Playout solutions market Competitive Analysis, Key Companies and Forecast Harmonic, Inc., SES SA, Grass Valley Canada, Evertz, BroadStream Solutions,... [Last Updated On: November 28th, 2020] [Originally Added On: November 28th, 2020]
- Graph Database Market To Witness Astonishing Growth 2027 || TIBCO Software Inc., Franz Inc, OpenLink Software, TigerGraph, MarkLogic Corporation,... [Last Updated On: November 28th, 2020] [Originally Added On: November 28th, 2020]
- Major Chinese Tech Company Baidu Caught Mining Private User Data Through Android Apps - Digital Information World [Last Updated On: November 28th, 2020] [Originally Added On: November 28th, 2020]
- After 27 million drivers license records are stolen, Texans get angry with the seller: the government - The Dallas Morning News [Last Updated On: November 28th, 2020] [Originally Added On: November 28th, 2020]
- 6th International Online Conference on Fuzzy Systems and Data Mining (FSDM 2020) held at Huaqiao University - India Education Diary [Last Updated On: November 28th, 2020] [Originally Added On: November 28th, 2020]
- Data Mining Tools Market: Industry Analysis, Size, Share, Growth, Trend And Forecast 2018 2028 - Cheshire Media [Last Updated On: November 28th, 2020] [Originally Added On: November 28th, 2020]
- Tracking H1N1pdm09, the Hantavirus, and G4 EA H1N1 w/ Data Mining - hackernoon.com [Last Updated On: November 28th, 2020] [Originally Added On: November 28th, 2020]
- Mining Tire Market: Qualitative analysis of the leading players and competitive industry scenario | Bridgestone, Michelin, Titan Tire, Chem China,... [Last Updated On: December 3rd, 2020] [Originally Added On: December 3rd, 2020]
- Micro Mobile Data Center Market Capacity, Production, Revenue, Price and Gross Margin, Industry Analysis & Forecast by 2026 - The Market Feed [Last Updated On: December 3rd, 2020] [Originally Added On: December 3rd, 2020]
- Impact Of Covid 19 On Telecom Analytics 2020 Industry Challenges Business Overview And Forecast Research Study 2026 - The Courier [Last Updated On: December 3rd, 2020] [Originally Added On: December 3rd, 2020]
- Personal data protection is essential to fully capitalise on the benefits of India's digital revolution: Cyble - PR Newswire India [Last Updated On: December 3rd, 2020] [Originally Added On: December 3rd, 2020]
- Making the most of your packaging line - Food & Drink Business [Last Updated On: December 3rd, 2020] [Originally Added On: December 3rd, 2020]
- Electro Diesel Locomotive Market Trends, Innovation, Growth Opportunities, Demand, Application, Top Companies and Industry Forecast 2027 | CRRC,... [Last Updated On: December 3rd, 2020] [Originally Added On: December 3rd, 2020]
- Edge Computing Market : Overview Report by 2020, Covid-19 Analysis, Future Plans and Industry Growth with High CAGR by Forecast 2026 - The Courier [Last Updated On: December 3rd, 2020] [Originally Added On: December 3rd, 2020]
- Data Analytics Outsourcing Market 2020 Top Emerging Trends Impacting the Growth Due to COVID19 and In-Depth Compitative Intelligence - Murphy's Hockey... [Last Updated On: December 3rd, 2020] [Originally Added On: December 3rd, 2020]
- Making it Real: Effective Data Governance in the Age of AI - Datanami [Last Updated On: December 3rd, 2020] [Originally Added On: December 3rd, 2020]
- Yield10 Bioscience Researcher Dr. Meghna Malik to Present at the 4th CRISPR AgBio Congress 2020 Virtual Event - GlobeNewswire [Last Updated On: December 3rd, 2020] [Originally Added On: December 3rd, 2020]
- The Solution Approach Of The Great Indian Hiring Hackathon: Winners' Take - Analytics India Magazine [Last Updated On: December 3rd, 2020] [Originally Added On: December 3rd, 2020]
- Mining Software Market 2020-2026: COVID-19 Impact and Revenue Opportunities after Post Pandemic - Murphy's Hockey Law [Last Updated On: December 3rd, 2020] [Originally Added On: December 3rd, 2020]
- Data Quality Tools Market 2026 Growth Forecast Analysis by Manufacturers, Regions, Type and Application - The Market Feed [Last Updated On: December 3rd, 2020] [Originally Added On: December 3rd, 2020]
- Rising Uptake of Big Data Analytics Software for Business to Propel Big Data and Business Analytics Market Wall Street Call - Reported Times [Last Updated On: December 3rd, 2020] [Originally Added On: December 3rd, 2020]
- HPE, a touchstone of Silicon Valley, moving headquarters to Houston to save costs, recruit talent - San Francisco Chronicle [Last Updated On: December 3rd, 2020] [Originally Added On: December 3rd, 2020]
- Several Robinhood Favorites See Selling Pressure on Wednesday - TheStreet [Last Updated On: December 3rd, 2020] [Originally Added On: December 3rd, 2020]
- Data Mining Tools Market to Reflect Impressive Growth Rate Along with Top Leading Players - The Haitian-Caribbean News Network [Last Updated On: December 3rd, 2020] [Originally Added On: December 3rd, 2020]
- Supply Chain Management: Lessons to Drive Growth and Profits Using Data Mining and Analytics | Quantzig - Business Wire [Last Updated On: December 3rd, 2020] [Originally Added On: December 3rd, 2020]
- Top 5 trends and predictions for market research in 2021 - AZ Big Media [Last Updated On: December 19th, 2020] [Originally Added On: December 19th, 2020]
- Space Mining Market Trends Analysis, Top Manufacturers, Shares, Growth Opportunities, Statistics & Forecast to 2026 - BAVIATION Business Aviation... [Last Updated On: December 19th, 2020] [Originally Added On: December 19th, 2020]
- Citi Launches Citi Fleet Card in the UK and Europe - Business Wire [Last Updated On: December 19th, 2020] [Originally Added On: December 19th, 2020]
- Facebook Accused Of Illegally Conspiring With Google - ValueWalk [Last Updated On: December 19th, 2020] [Originally Added On: December 19th, 2020]
- Data Mining Tools Market Top Manufacturers, Product Types, Applications and Specification, Forecast to 2028 - BIZNEWS [Last Updated On: December 19th, 2020] [Originally Added On: December 19th, 2020]
- INTRUSION Inc. Expands Executive Team with Focus on Amplification of New Cybersecurity Solutions - GlobeNewswire [Last Updated On: December 19th, 2020] [Originally Added On: December 19th, 2020]
- Essnova Solutions Named to Inc. 500 List of Fastest Growing Companies - Business Wire [Last Updated On: December 19th, 2020] [Originally Added On: December 19th, 2020]
- Ready Money Capital Limited Now Offers Financial Solutions for All and Sundry - PRNewswire [Last Updated On: December 19th, 2020] [Originally Added On: December 19th, 2020]
- The 3 Robinhood Stocks I'm Most Excited About - Motley Fool [Last Updated On: December 19th, 2020] [Originally Added On: December 19th, 2020]
- Data Mining Tools Market Business Growth Tactics, Future Strategies, Competitive Outlook and Forecast - BAVIATION Business Aviation News [Last Updated On: December 19th, 2020] [Originally Added On: December 19th, 2020]
- Supernova's Clients Wanted a New Data Insights Tool, So the Company Built 1 From Scratch - Built In Chicago [Last Updated On: December 19th, 2020] [Originally Added On: December 19th, 2020]