Indus.ai
Machine Learning Platform for Construction.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor investor investor investor investor investor investor investor | €0.0 | round |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| investor investor investor investor | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
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Indus.ai operated as a specialized technology firm providing an artificial intelligence-powered analytics platform tailored for the construction industry. The company was founded in 2017 by Matt Man, who served as CEO, and Navin Kaminoulu, the COO. Man, a serial entrepreneur with a Master of Science in Engineering from Stanford University, focused on creating disruptive technologies for the infrastructure sector.
The core of Indus.ai's business was a software-as-a-service (SaaS) platform that utilized computer vision to analyze live video streams from cameras on construction sites. This system was designed to provide real-time visibility and actionable insights for real estate investors, developers, general contractors, and project managers. The proprietary neural network could recognize over 100 types of construction equipment and activities, transforming visual data into measurable analytics. Key applications included monitoring project progress, ensuring safety and compliance, tracking labor deployment, minimizing equipment idle time, and helping to resolve billing disputes. By automatically capturing and analyzing job site activities, the platform aimed to reduce project delays, improve billing accuracy, and optimize the use of resources like labor, equipment, and materials.
The company's business model was subscription-based, offering its analytics platform to clients. In May 2021, Indus.ai was acquired by Procore Technologies, a leading provider of construction management software. The acquisition was a strategic move for Procore to integrate Indus.ai's AI and computer vision capabilities into its own platform, enhancing its offerings with intelligent data analytics. Prior to the acquisition, Indus.ai had been a partner on the Procore App Marketplace since 2018. Following the acquisition, Procore planned to integrate the technology, and Indus.ai's solutions were no longer available to new customers. Keywords: construction intelligence, computer vision, AI analytics, project management, construction technology, jobsite monitoring, resource optimization, safety compliance, Procore acquisition, ConTech