Doxel, the software start-up providing the first computer-vision-powered predictive analytics solution for the construction industry, has announced the closing of $40 million in Series B financing – bringing its total funding to $56.5 million.

The investment, led by New York-based global private equity and venture capital firm, Insight Partners, with existing investors Andreessen Horowitz and Amplo also participated in the round.

The round will allow Doxel to scale its artificial intelligence platform and rapidly accelerate recruiting across its engineering, sales, marketing & product teams.

Company: Doxel Inc.

Raised: $40.0M

Round: Series B

Funding Month: August 2021

Lead Investors: Insight Partners

Additional Investors: Andreessen Horowitz and Amplo

Company Website: https://www.doxel.ai

Software Category: AI-Powered Project Controls platform

About the Company: Doxel leverages the first computer-vision-powered predictive analytics solution for the construction industry. By integrating into existing digital assets such as Building Information Modeling (BIM), Schedule, and Budget, Doxel empowers decision-makers with timely warnings on potential schedule delays, cost overruns, and quality issues which enables owners and General Contractors to increase control over outcomes and deliver projects with higher predictability. Doxel is an artificial intelligence and computer vision-based system that deliver productivity increases to commercial construction projects. Doxel uses autonomous devices to visualized monitor a project, then feeds this data to its proprietary deep learning algorithms to inspect the quality of installed work and measure installed quantities.

Source: https://www.webwire.com/ViewPressRel.asp?aId=277669