Oculai Secures €2.5 Million in Seed Round  

by Kay Aloha Villamor in March 15th, 2023

oculai, a Munich, Germany-based startup developing AI-based tech that automates process and progress monitoring for construction sites, secured €2.5 million in a seed funding round led by High-Tech Gründerfonds. 

Additional backers include Bayern Kapital and Axeleo Capital. The Leonard Accelerator program also took part, alongside renowned private investors. 

With this new funding, the plan is to accelerate the adoption of the tech on construction sites.

Constantin Kauffmann, Co-Founder and CEO of oculai: “Now more than ever, the transformation of the construction industry into intelligent production systems is becoming increasingly important. That’s something we’re also seeing in the resonance our product is generating. With this fresh tailwind, we can capitalize on this momentum and make major leaps.”

oculai has developed a solution to automate process and progress monitoring for construction sites. Currently, the solution is primarily being utilized in shell construction, along with some initial infrastructure projects.

Company: oculai GmbH

Raised: €2.5M

Round: Seed Round 

Funding Month: March 2023

Lead Investors: High-Tech Gründerfonds

Additional Investors: Bayern Kapital, Axeleo Capital, and The Leonard Accelerator program

Company Website: https://en.oculai.de/

Software Category: Data Collection Solution

About the Company: Founded by Constantin Kauffmann, Tim Sippl, and Yannik Mack (CFO/ COO), oculai is a SaaS solution for camera-based data collection on construction sites using intelligent computer vision algorithms. Using intelligent computer vision algorithms, data on the use of resources, construction work and construction progress are extracted from image material. oculai uses cameras and AI to monitor manual industrial processes. The company helps to enhance transparency and productivity within construction projects and make planning easier, while also automating working processes for construction management. 

Source: https://www.eu-startups.com/2023/03/contech-startup-oculai-secures-e2-5-million-to-optimise-on-site-monitoring/

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