2 AI-based construction platforms receive millions in funding

Once considered futuristic, artificial intelligence has been made more accessible and integral to contractors in recent years by several burgeoning startups, through programs such as OpenSpace and Smartvid.io. Alice, an AI-based simulation platform for construction, announced yesterday that it has closed $8 million in Series A funding round led by Merus Capital with participation from Foundamental, Blackhorn Ventures and Lightspeed Venture Partners. Founded by Stanford scholar and inventor Rene Morkos in 2018, Alice uses AI to help analyze the flows of labor and equipment throughout a jobsite. In use by firms such as DPR Construction, Mortenson and Parsons, the technology allows users to explore a variety of building plans in real-time and understand the impact of key construction decisions on project cost and duration. The firm says that its customers have cut project duration by 16% and labor costs by nearly 15%.