BuildAI
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Date of Foundation
2019

BuildAI

"Enhancing Productivity through Data-Driven AI"

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The Idea origin story

BuildAI addresses construction industry challenges with its proprietary technology. Our Labour Analysis enhances site productivity using timelapse imagery and machine learning to track activities. Simultaneously, CraneCast employs telematics and hook vision tech for precise material handling. These solutions offer valuable insights, improve safety protocols, enhance efficiency, and optimize resource allocation in real-world scenarios; aiming to revolutionize the industry's sustainability & work-life balance.

The Mission

"BuildAI, the heart rate monitor of construction sites, boosts global industry productivity using an integrated AI platform."

Clients

Our customers are Contractors, Subcontractors, suppliers; future clients could include developers, insurers and financiers.

Problems we solve

Client’s problem

PitchBob’s recommendation: "BuildAI resolves issues like poor labour productivity, skilled labour shortages and supply chain delays. It bolsters safety and reduces various risks while making construction industry appealing for the new generation."

Confirmation of problem

global construction lags in digitalization, leading to low productivity rates, alarming safety statistics and tiny high risk profit margins. The inflection point has arrived after two decades of no productivity growth and a reducing margin to the point that current conditions are no longer sustainable despite larger than ever growing demand for new buildings.

Solution

We bring solution with BuildAi, where automation in measuring site data provides insights and supports improvement towards lean construction principles.

Our technologies

This solution is based on technologies

AI & Machine Learning, Computer Vision, Telematics Sensors, Data Analytics and Cloud Computing.

How it works

Our solution seamlessly gathers and synthesizes data, supplying actionable insights alongside predictive forecasts.

Value for the client

Our product ensures safer sites, improved programs resulting in more than 10X ROI for customers.

Market and strategy

Market size

The global construction technology market was valued at $9.6 billion USD in 2021 and expected to compound at 8.5% (CAGR). This will facilitate the digital disruption of a industry generating 14% of global GDP

mln/year

We estimate the market size for which our solution is designed in monetary terms as follows

Market share goal

10

% of the market

Is our goal in the next 3 years

Team

My name’s

Kristian Butcher

My key role in the product

As the Founder and CEO, I leverage my 20-year construction experience to guide our skilled team in solving key industry challenges.

Team size and key members

Our team includes data scientist Phil Wong, seasoned Product Manager Adrian Casey, 20-year experienced developer Carlton Wang, AI expert Giddeon and construction pro Toby Venables.

Competitors

Competitors

Our Advantages

BuildAI boosts safety with a second-eye view for crane operators. Its lightweight device, using vision technology captures steady data. With existing infrastructure compatibility, it offers scalable solutions in the Timelapse market and expansion potential through upselling.

Business model

Data as a service, software as a service and hardware rental/sales.

Traction

In recent months, our product achieved notable enhancements with successful labor productivity measurement, automated insight and report generation. We've harnessed Chat GPT for converse-style data interaction capabilities.

The company has successfully reached a milestone, achieving a robust valuation of $50 million, demonstrating significant progress in business growth and market traction.

Metrics

Product metrics such as login rates and user analytics reveal a consistent positive growth. Both new customer acquisitions, along with repeat projects show enduring expansion highlighting our successful market penetration strategy.

Our gross revenue has remarkably doubled annually over the past three years. Currently, we're experiencing an accelerated growth trajectory with revenues doubling each quarter.

Incorporation

Our company incorporated in

Australia

Key risks

Main risks include potential resistance to technological adoption by construction companies, data privacy concerns, and securing sufficient funding for continued development with todays challenging economic environment.

Investments

$

5550000

We raised investments

Our Investors

Strategic investors make up 50%, friend and family make up 20%, VC makes up 10% and I own 20%

Rising Investments

$

5000000

Currently, we are raising investments

$

25000000

Estimated pre-investment valuation of the company

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We’re looking for a co-founders

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Additional information

BuildAI
MVP
Date of Foundation
2019