AI construction company Swapp secured $7 Million

Swapp, an Israel-based Artificial Intelligence-supported construction planning company, has now secured $7 million in a seed funding round.

Swapp is founded by the Eitan Tsarfati in the year 2015. It is an AI-driven planning company that developed a single platform for real estate developers and construction companies to create their whole construction planning, from feasibility assessments to detailed construction document plans and begin work within weeks.

With the help of this platform, the real estate construction and developer companies can control every phase of their project planning process and readily adjust them to their budget and needs.

Daniel Gwak, a partner at Point72 Ventures, said, "We believe Swapp has the ability to reinvent architecture by automating the entire construction planning process. Swapp's AI-powered platform is designed to help modernize real estate development by simplifying the slow and fragmented planning process, allowing developers to create a full set of architectural plans within weeks. We are pleased to support their continued growth."

Eitan Tsarfati, Co-founder and CEO of Swapp and former General Manager of Autodesk Israel, said, "Swapp's AI solution is a game-changer in the field of real estate development and construction-planning. As an experienced Harvard graduate architect and a serial entrepreneur, Tsarfati looks to reinvent the role of architecture with Swapp's AI-based platform. For the first time in the history of construction, real estate developers and construction companies can use a single platform to build their entire construction planning project and begin work within weeks instead of 9-12 months. We are already working with some of the biggest names in the construction industry to replace the slow, tedious, and inflexible construction planning process with our smart, efficient, and flexible planning solution. This investment will help us grow our customer base and expand our AI capabilities to advance the future of construction planning."

The round was backed by the Entrée Capital and Point72 Ventures with participation from existing investors.

The company as of now has plans to use the new funds to continue to grow into the market for its construction planning platform and further advance its AI capabilities, notes the announcement.