Inkers Technology Bags $3 Mn To Expand Its AI-Powered Construction Management Platform

Proptech startup Inkers Technology has raised $3 Mn (INR 25.44 Cr) in its Series A funding round led by Lucky Investment Managers’ founder Ashish Kacholia.

However, it did not disclose the names of other investors who participated in the round.

The Bengaluru-based company plans to use the fresh capital to expand its AI-powered construction management platform Observance, which processes point cloud data, images, and BIM models to generate construction insights.

Founded in 2015, Inkers Technology’s Observance platform has been deployed across more than 150 construction sites in Bengaluru, Delhi NCR, Kolkata, Chennai, and Hyderabad. 

The platform has scanned over 250 Mn sq ft of construction area and processed more than 2 petabytes of data.

Observance delivers hyper-accurate as-built 3D models enriched with thermal maps, enabling faster resolution of BIM conflicts and early identification of structural defects, Inkers said in a statement.

The platform claims to scan up to 100K sq ft of construction area per hour and generate analytics, as-built models, defect reports and schedule updates within 24-48 hours.

Since its launch in early 2022, the company says it has identified more than 40K defects, ranging from water seepage to concrete issues. Clients including Colliers, Brigade, Prestige, Sobha, and GMR use the platform to minimise rework and ensure faster project execution, achieving 5-10% cost reductions.

The startup claims to have achieved operational breakeven in January 2023. The company also won several accolades including the HDFC Tech Innovation Award 2024 and Proptech AI Application of the Year at Reality+ Conclave & Excellence Awards 2023.

The funding comes amid growing investor interest in the proptech sector. In September, Bengaluru-based Flent raised INR 6.5 Cr in a pre-seed round led by WEH Ventures, while JUSTO Realfintech raised $7 Mn from Arbour Investments. HouseEazy secured $7 Mn in Series A funding led by Chiratae Ventures in August.

In July, Mumbai-based proptech startup Jugyah raised $1.5 Mn in seed funding co-led by White Venture Capital, QED Investors and Godrej Properties. The proptech sector has seen significant traction, with Truva raising $3 Mn from Stellaris Venture Capital in August, and Settl securing INR 10 Cr in its pre-Series A round earlier this year.

Inkers Technology specialises in machine learning, computer vision, video analytics, deep learning, 3D reconstruction, LiDAR scans, sensor fusion, and scan-to-BIM technologies. The company employs between 11-50 people and focuses on delivering AI solutions for the construction industry.