US$15m investment into AI platform for sustainable design
By Catrin Jones30 March 2022
BeamUp Ltd, an artificial intelligence (AI) design and management platform company, has been launched with a US$15 million round of seed investment led by StageOne Ventures and Ibex Investors.
BeamUp generates digital models of facilities and is said to reduce system and infrastructure design time from months to days – in addition to improving management efficiency by up to 70%.
Stephane Levy, CEO and founder of BeamUp, said, “Buildings and the systems within them are as complex as cities, but the tools to design and manage them have not kept up. 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.”
Nate Meir, partner at StageOne Ventures, commented that, “Beyond initial design and install, facilities must be managed, maintained and updated over time. Early on, we identified BeamUP as uniquely positioned to tackle both of these problems and it has been great to work with the team as they upgrade a desperately outdated ecosystem.”
Meir added that the company – which was founded in Israel in 2019 – was working with customers around the world, helping them to automate their processes to improve operations.
BeamUp said that the seed financing would be used to invest in its sales, marketing, and operational departments.