Acelab, a New York-based architecture-based online platform that connects architects and manufacturers, raised $5.3 million in funding to continue building out its intelligent building supplies search platform for his fellow architects.
The round was led by Pillar VC, PJC, and Draper Associates, with participation from Alpaca, Steve Kaufer (Founder and former CEO of TripAdvisor), Erik Jarnryd (Former CEO of Harvey Building Products), Transcend Partners, Branagh Construction, Ken Lang, Klingenstein Fields, and Westview PE Fund.
“With building products being in the hundreds of thousands, it’s simply impossible for any architect or contractor to know about all of them,” Vardhan Mehta CEO of Acelab wrote to VentureBeat in an email. “But every construction project is atypical in nature – due to code requirements, budget constraints, project location or client needs. Acelab machine learning (ML)-powered search engine is the brain of the platform. It gathers all relevant info from the architect, collates it with our proprietary database, and returns the strongest fits through an easy-to-use interface.”
Company: Acelab, Inc.
Raised: $5.3M
Round: Unknown
Funding Month: August 2023
Lead Investors: Pillar VC, PJC, and Draper Associates
Additional Investors: Alpaca, Steve Kaufer, Erik Jarnryd, Transcend Partners, Branagh Construction, Ken Lang, Klingenstein Fields, and Westview PE Fund
Company Website: https://acelabusa.com/
Software Category: Collaboration Platform
About the Company: Founded in 2019, Acelab is a cloud-based collaboration platform that offers a range of tools and resources to help architecture professionals research, compare, and select building products for their projects. Acelab is designed to help architecture professionals save time and streamline their workflows by providing a centralized source of information and tools for building product research and specification tasks. The company’s mission is to improve built environment outcomes by providing building professionals with the data-driven tools they need to make informed product decisions.
Source: https://venturebeat.com/ai/acelab-raises-5-3m-to-transform-architecture-with-ml-powered-building-supplies-search/