Israeli AI company Swapp raises $7 million dollars in seed money

Swapp is a company that uses a single AI platform that it developed in order to help construction companies and real estate developers to easily develop their construction plans and their budget.

JANUARY 22, 2021 10:22

Updated: FEBRUARY 16, 2021 18:25

Eitan Tsarfati CEO and Co founder of Swapp (photo credit: Courtesy) — Eitan Tsarfati CEO and Co founder of Swapp

(photo credit: Courtesy)

Swapp, an Israeli construction planning company that uses its unique Artificial Intelligence (AI) platform, announced that is successfully raised $7 million in seed money which was spearheaded by Point72 Ventures and Entrée Capital, along with its existing partners.

Swapp is a company that uses a single AI platform that it developed in order to help construction companies and real estate developers to easily develop their construction plans and their budget. The AI platform is able to streamline feasibility of assessments of the construction plans, down to the details of the plan. It can also help cut down the planning process time of construction. It is also able to help a company realize the full potential of their sites. The platform allows developers to streamline the conception, architectural design, and engineering processes, which will allow developers more control of their capital for each step of construction.

This has the potential to help with construction time and the cost per development. It will be able to cut down project planning to several weeks as opposed to the almost year-long process needed to plan a development project. The platform is a one-stop shop that provides all the tools needed to plan and maximize a project's potential.

Co-founder and CEO of Swapp, Eitan Tsarfati said that “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."

He added that Swapp "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."

Partner at Point 72 Ventures Daniel Gwak stated that “We believe Swapp has the ability to reinvent architecture by automating the entire construction planning process.”

Gwak noted that “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.”