AICrete investor confidence climbs in latest funding round

Sources: AICrete Corp., Richmond, Calif.; CP staff

AICrete Corp., artificial intelligence solutions developer for concrete and aggregate producers, has closed a $5 million funding round, bringing Series Seed commitments to $9 million since May 2022. The investment positions the company to broaden the AI-powered AICreteOS operating system user base; extend customer support to more North American accounts; configure AICreteOS to provide more advanced data-driven business and operations intelligence; and, launch an AI-powered hardware sensor, billed as “revolutionizing concrete and aggregate production.”

AICrete’s AI-powered quality control platform integrates with various batch, dispatch, and fleet tracking systems to provide quality control managers full order traceability—closing the feedback loop for the first time. The result is a flywheel effect that is instrumental in helping concrete and raw material producers to deliver better, more consistent, cost-effective and sustainable products. AICrete cites the potential of its software to reduce a cubic yard of concrete’s cost and carbon dioxide footprint by $3-plus and 20-85 lbs., the latter metric representing a 42 lb./yd. weighted average.

The latest funding round includes existing investors Clear Ventures, Cortical Ventures and VoLo Earth Ventures, plus climate tech-minded newcomer Pulse Fund. “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 leader,” says Clear Ventures Partner Chris Rust. “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 improve operations, quality, and financial results.”

“Pulse Fund is proud to invest in AICrete as they transform the construction industry with AI-powered innovations that drive both economic and environmental outcomes. [AICrete CEO] 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,” adds Pulse Fund Managing Partner Tenzin Seldon.