Pi Labs’ investment in Firmus
AI-based construction
Excited to share that we have participated in Firmus’ $4.5M Seed round, along with our new friends at Navitas Capital and Heartland Ventures.
Background
Firmus is a company based in Tel Aviv, Israel and was started by Shir Abecasis. Shir holds over 12 years of experience managing complex tech developments and operations around cybersecurity, most of which at the elite 8200 unit of the Israeli Defence Force. Her now Co-founder and CTO Reuven Amar also has 11 years of technology experience within the Israeli Defense Forces, where he was a Software Architect and a Group Leader.
The product is a SaaS solution utilising advanced computer vision and NLP for General Contractors enabling them to spot design errors during the procurement stage quickly and accurately. Design errors and iterations happen during every project and can oftentimes add an additional 3–6 months of delay to a project. Additionally, these errors today are spotted manually either internally or via outsourced consultancies. Firmus aims to be the only solution utilizing Deep-Tech to build a completely automated solution for GCs.
How did the investment come about & why we invested
We were immediately impressed by the team and the initial blue-chip GCs they were able to sign up for pilots. Furthermore, whilst operations are set up in Israel, the majority of their current clients are based in the US. This represents a much bigger market opportunity than if the Company were only to be focused on Israel and a couple of European markets. We were excited by the fact that Firmus was able to immediately enter the large US market from Israel at such a young stage of the Company.
🤝🏿 Source of intro: Shir reached out directly to Pi Labs in November 2021.
What’s next
The next chapter for the company is to continue building the product with their pilot customers to become an industry standard solution allowing contractors and owners worldwide to assess and manage design risk and opportunities in all project phases.
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