What is Buildots ? An AI construction tech company which has announced a US $ 30 million Series B round led by Lightspeed Ventures , with the participation of Buildots ’ previous investors , TLV Partners , Future Energy Ventures , Tidhar Construction Group , and Maor Investments .

What are its plans ? The investment will be used to double the size of the Buildots global team , with a focus on developing the sales and R & D departments .

Why is there such a focus on AI in construction at the moment ? Although construction currently accounts for 13 % of the world ’ s GDP , and the employment of hundreds of millions , it still lags behind in productivity compared with other traditional industries .

According to the European Commission , productivity in the construction sector has remained almost stagnant , having increased by just 1 % over the last two decades .

“ Construction is a massive market with real GDP impact , but it is still underserved by technology . We believe Buildots is the company that will change that reality ,” said Tal Morgenstern , Partner at Lightspeed Venture Partners

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