Israeli Real Estate Tech Startup BeamUP Secures $15 Million In Seed Round
Tel Aviv-based AI real estate tech startup BeamUP emerged from stealth to announce the completion of a $15 million seed round to scale its sales, marketing, and operational departments as it rapidly expands globally with leading enterprise organizations.
The round was led by Israeli investment firm StageOne Ventures and US-based Ibex Investors with significant contributions from angel investors.
Founded in 2019, BeamUp’s AI platform generates digital IT, IoT, electrical, and HVAC models of facilities to reduce system and infrastructure design time. These commercial systems account for about 40 percent of a building’s entire construction cost and 40 percent of the world’s energy consumption.
BeamUP uses its proprietary AI technology to cut system and infrastructure design time from months to days, according to the announcement. The technology also lowers the risk of compliance and regulatory infractions and cuts the operational costs associated with manual processes, errors, and rework.
“Buildings and the systems within them are as complex as cities, but the tools to design and manage them have not kept up,” said Stephane Levy, CEO and founder of BeamUP. “By introducing intelligence and historic and macro-level data into this industry, BeamUP automates manual processes to prevent dangerous compliance breaches and skyrocketing costs for enterprises who manage hundreds, if not thousands, of facilities.”
“AI startups like BeamUP are enabling the $1.1 trillion commercial real estate industry to apply data to the age-old problem of the management of enterprise facilities which have a significant impact on a company’s bottom line as well as on carbon emissions,” said Gal Gitter, partner at Ibex Investors.
BeamUP is now available for Fortune 500 enterprises looking to overhaul the process of designing and maintaining their facilities around the world.