AI-led startup Track3D raises $10 million from Ironspring Ventures, others
Track3D, a realty intelligence startup working in construction monitoring, has raised $10 million in a funding round led by US-based venture capital firm Ironspring Ventures and co-led by Zacua Ventures. Existing investors Shadow Ventures and US-based Monta Vista Capital also participated in the round.
Headquartered in the US with an office in Hyderabad, the company plans to use the fresh funding to expand into various regions, including India, Europe, and Saudi Arabia.
“We believe that very soon we will be starting in India and other regions. As a startup, focus is super important, and we wanted to have a very narrow focus on where we execute and how we scale,” Chaitanya NK, founder of Track3D, told ET.
“In five years’ time, we anticipate this to be a standard on every site, like a hard hat or a safety vest.”
– Said Chaitanya
Founded in 2022
- The company, which has close to 130 employees, has the majority of its tech team in India.
Other startups working in the field include Autodesk Construction Cloud in the US and Bengaluru-based Contineu. Track3D claims its AI-enabled features can be used across construction sites in every field. Currently, catering only to the US market, it charges 20 cents per square foot for its services.
“In five years’ time, we anticipate this to be a standard on every site, like a hard hat or a safety vest,” said Chaitanya.
“With a powerful AI-first solution purpose-built to modernise construction monitoring, the company equips jobsite decision-makers with unparalleled insight that leads to better project outcomes,” said Ty Findley, general partner of Ironspring Ventures.
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