oculai has secured €2.5 million in capital as part of a seed financing round. The construction tech start-up will use the fresh funding to invest in advancing its technology and drive its widespread adoption on construction sites.
The financing round was led by High-Tech Gründerfonds, with oculai representing the 700th investment in the seed investor’s history. Other participants included Bayern Kapital, one of the country’s most experienced high-tech investors which utilised funding from the REACT portion of the Bayern Kapital Innovationsfonds EFRE, as well as France’s Axeleo Capital. They were also joined by the Leonard accelerator program and other renowned private investors. These investors include Arno Zinke, former founder and manager of Autodesk and Hexagon, Christoph Jentzsch, former founder and CEO of Slock.it and corpus.ventures, and Tobias Ortmaier, former founder and managing director of Yuanda Robotics, voraus robotik and avatera.
oculai is an emerging digitalisation and AI solution for construction firms. With the aid of cameras installed up high, the solution applies unique deep learning models to automatically track construction processes. Users gain access to functions including automated target/actual schedules, the automatic drafting of daily construction reports, and process KPIs. oculai helps to enhance transparency and productivity within construction projects and make planning easier, while also automating working processes for construction management. At present, the solution is primarily being utilised in shell construction, along with some initial infrastructure projects.
“We are delighted to continue supporting Oculai in their next phase of growth as they bring renewed accountability and transparency to the job site!” – Guillaume Bazouin, head of startup and intrapreneurs programs
“Now more than ever, the transformation of the construction industry into intelligent production systems is becoming increasingly important. That’s something we’re also seeing in the resonance our product is generating. With this fresh tailwind, we can capitalise on this momentum and make major leaps.” – Constantin Kauffmann, Co-Founder and CEO of oculai