Construction automation makes sense at first glance. It is one of the largest industries in the world. It is also one of the most expensive and often dangerous. It certainly ticks the three Ds (boring, dirty, dangerous) of automation.
we met Kewazo several years ago, and now introduces its first product, liftbot. It is an automated lifting system that raises and lowers scaffolding.
It takes about 20 minutes to install (according to the company), is battery-powered, wireless, and can reach its destination without manual intervention. Like other construction robotics companies, Kewazo got a boost during the pandemic when construction reopened, but many companies suddenly had trouble filling positions.
"Despite already existing labor shortages, foreign workers found it impossible to travel to and from their home countries", explains the co-founder and CEO Artem Kuchukov. “Many construction sites in Europe, the Middle East and Singapore suffered massively as a large percentage of their workforce was simply not there anymore. That was a big catalyst for building automation, as companies began looking for ways to stay in business without relying on an uncertain labor supply.”
Kewazo announces a Serie A $ 10 billion. The round, which brings its total collection to about 20 million dollars, has been led by Fifth Wall, with the participation of Cybernetix Ventures, Unorthodox Ventures and Nemetschek. It follows a $5 million "Pre-Series A" in September 2021.
"I think it's very helpful when companies like Kewazo disrupt our business," says Bart Gyssels, CIO of Altrad Services Benelux, in a statement linked to the news. “We will have trouble finding and keeping good staff – this will be our main focus for years and decades to come. These innovations are very useful in attracting and motivating our employees and help us offer our clients profitable and secure services.”
Kuchukov explains that despite the general optimism around building automation, getting funding in 2022 was no walk.
“However, the 2022 Series A was tougher. We started fundraising in early April, just when things were starting to slow down,” he explains. “We had a founders camp hosted by True Ventures in Napa Valley in March and no one was talking about the recession yet. But a few weeks later it started. Some of my fellow founders suggested waiting until the fall with the fundraiser, but we decided not to trust the unstable economic situation in the world."
Among the plans for money is to increase the workforce. Kewazo currently employs 26 full-time and 11 part-time workers, and plans to hire another 15 this year, primarily in business and product development.
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