Swapp, a British-Israeli company that leverages AI for construction planning, has raised $7 million (approx £5.1 million) in Seed funding, led by Point72 Ventures and Entrée Capital, with the participation of existing investors.
The funding will be used to continue the company’s market expansion and expand its AI capabilities.
Founded by Adi Shavit, Eitan Tsarfati, and NOAM GAT, Swapp’s AI solution enables seamless planning, collaboration, and communication between real-estate developers, architects, and engineers.
“Swapp’s AI solution is a game-changer in the field of real estate development and construction-planning,” said Eitan Tsarfati, co-founder.
Notably, the three veteran founders sold their previous venture to Autodesk, the world leader for architecture & construction software,
The company has developed a single-platform for real-estate developers and construction companies to create their entire construction planning, from feasibility assessments to detailed construction document plans, and begin work within weeks.
Can control and adjust projects
With this platform, real estate developers and construction companies can control every phase of their project planning process and readily adjust them to their budget and needs.
“We believe Swapp can reinvent architecture by automating the entire construction planning process,” said Daniel Gwak, partner at Point72 Ventures.”
Eran Bielski, General Partner at Entrée Capital, says “Our investment in Swapp reflects our belief that using AI to streamline and optimize operations will increase efficiencies for developers and general contractors in the industry.”
Eitan Tsarfati adds, “For the first time in the history of construction, real estate developers and construction companies can use a single platform to build their entire construction planning project and begin work within weeks instead of 9-12 months. We are already working with some of the biggest names in the construction industry to replace the slow, tedious, and inflexible construction planning process with our smart, efficient, and flexible, planning solution.”