Kwant AI, a New York-based AI SaaS startup that brings AI technology to the field, adding efficiency and safety to the global construction industry with the System of Record of Workforce, announced that it raised a $3.9 million seed funding.
With investment from LAUNCH, Fairstead, Pearl Fund, 7BC Venture Capital, Forefront Ventures, Martinson ventures, and Serra Ventures.
Funds will be allocated to facilitate customer expansion, scaling the platform, and staff hiring.
Company: Kwant AI
Round: Seed Round
Funding Month: March 2022
Lead Investors: LAUNCH, Fairstead, Pearl Fund, 7BC Venture Capital, Forefront Ventures, Martinson ventures, and Serra Ventures
Company Website: https://www.kwant.ai/
Software Category: Construction Analytics Platform
About the Company: Kwant AI is a New York-based AI software company that focuses on supporting industrial job sites with real-time data, predictive analytics, and safe environments for a brighter future. Kwant AI is the first company to use a proprietary low-powered sensors network to automate construction site data collection to improve safety and productivity. Using artificial intelligence, Kwant.ai provides actionable analytics like schedule and cost risk, early warning signals to optimize the workforce and predict and prevent safety incidents. Kwant AI protects lives and adds over 15% toward operational efficiencies, saving huge costs for the construction industry. The solution is proven to work in large deployments such as the new airports in New York, EV factories in Detroit and Tennessee with over 10,000 construction workers using the technology daily. Kwant AI's platform supports customers, partners, and some of the largest builders in the world like Delta, DPR, Walbridge, Moretenson, Gilbane, Paric, McCarthy, Alberici, Comcast, and Wesco across airports, electric vehicle factories, roads, data centers, and commercial buildings with a portfolio value of over $60bn.