London-based AI startup Disperse has raised $16m (£14.9m) for its platform that captures building site data to digitally visualise a construction project.
Founded in 2015, Disperse lets construction managers monitor progress remotely, turning footage captured live on a site into a digitised version.
In an interview with TechCrunch, Disperse founder and CEO, Felix Neufeld said that while construction firms are often willing to try new technologies, these are not long-term investments and are based on “false promises from technology companies”.
Neufeld added: “We see most technology on sites quickly become either fully abandoned, or become ‘zombie software,’ which is to say that the initiatives are technically still active but are solely kept alive for perception, or contractual obligations, without fulfilling their functional purpose.”
While based in London, Disperse has expanded its UK operations to the Midlands, the North, and Ireland, as well as across the Atlantic with the launch into New York.
“So far, the bulk of our business is still in the UK where we are working with a large share of the key contractors and developers but given the momentum we have in the US and the size of the market, the US will likely surpass the UK next year,” said Neufeld.
The latest funding for Disperse was led by 2150 and featured participation from existing investors Northzone and Kindred Capital.
Disperse’s last funding round was a $15m (£13.9m) Series A investment led by Northzone.
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