(MENAFN- EIN Presswire)
RICHMOND, CA, UNITED STATES, September 17, 2024 /EINPresswire / -- AICrete Corp., a pioneering technology company specializing in Artificial Intelligence (AI) solutions for the concrete and aggregates industry, is pleased to announce the successful closure of a $5 million funding round. This financing brings the total Series Seed round to over $9 million since May 2022. The new funding round was led by Clear Ventures ( ) with participation from Cortical Ventures ( ) and VoLo Earth Ventures ( ) and welcomed a new investor, Pulse Fund ( ), focusing on climate tech innovations.
AICrete's AI technology not only reduces concrete costs by over $3 per cubic yard but also diminishes the CO2 footprint by 20-85 lbs per cubic yard, achieving a weighted average reduction of 42 lbs. Given that over 13 billion cubic yards of concrete are produced globally each year, with more than 500 million cubic yards manufactured in the US alone, the potential impact of AICrete's innovations on cost savings and environmental sustainability is substantial.
“At AICrete, we actively listen to the concrete and aggregates industries and to our customers. They tirelessly work around the clock to build our homes, schools, hospitals, airports, highways, water and sewage systems, power plants, water treatment centers, lakes, parks, and much more. These are literally the foundations of modern civilization, elements we often take for granted but are so crucial for our way of life.” said Parham Aghdasi, Founder and CEO of AICrete.“It is time to provide this dedicated sector with the innovative tools they have been anticipating; tools powered by AI that enable them to work more efficiently, cost-effectively, and sustainably. AICrete is committed to this mission, and with our latest round of funding, we are determined to make this vision a reality.”
AICrete delivers the only AI-powered stand-alone quality control operating system that follows concrete production throughout its entire early lifecycle. It integrates with various batch, dispatch, and truck systems to provide full traceability to quality control managers, closing the feedback loop for the first time. This leads to a flywheel effect that is instrumental in helping concrete and its raw material manufacturers produce better, more consistent, cost-effective, and sustainable products.
“AICrete's execution to date has been exemplary. It is rare to find an emerging technology company as well positioned as AICrete to be a category-defining industry leader. As evidenced by their rapidly expanding customer base, we are impressed with the robust adoption of their transformative AI solutions for the concrete and aggregates industry. AICrete has the right market opportunity, team, product suite, and resources to help the massive concrete and aggregate industry improve operations, quality, and financial results.” said Chris Rust, Co-founder and Partner at Clear Ventures.
Tenzin Seldon, Founder and Managing Partner at Pulse Fund, added,“Pulse Fund is proud to invest in and support AICrete as they transform the construction industry with AI-powered innovations that drive both economic and environmental outcomes. Parham Aghdasi and the team have paved the way for smarter, cleaner, and more efficient concrete production. This investment highlights pioneering tech that is redefining industry standards.”
With the new financing, AICrete plans to:
Bring its AI-powered operating system, AICreteOS, and extended customer support to more concrete and aggregate manufacturers within the US market.
Enhance AICreteOS to further provide more advanced data-driven business and operations intelligence.
Launch its new AI-powered hardware sensor, revolutionizing concrete and aggregate production.
For more information about AICrete and its AI-powered products, please visit AICrete's website .
About AICrete Corp.
Founded in 2020, AICrete Corp. is a leader in developing AI-driven software and hardware solutions designed to enhance the production and use of concrete and aggregates. With a focus on sustainability and innovation, AICrete's AI operating system, AICreteOS, enhances the efficiency, profitability, and environmental footprint of concrete production.
Contact:
Michael Fletcher
AICrete
+1 510-224-5722
email us here
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