AICrete Corp., Richmond, Calif. 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 the cost and carbon dioxide footprint of a cubic yard of concrete 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. 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.
SOFTWARE INVESTOR TAKES MINORITY SYSDYNE STAKE
A strategic investment from New York-based Insight Partners will position Sysdyne Technologies to grow its suite of ready mixed concrete batch, dispatch and delivery management Software as a Service solutions—all programmed to help producers modernize legacy processes. With its intuitive user experience and rapid deployment, the Sysdyne platform provides a competitive advantage and delivers elevated customer service.
“Our mission has always been to empower concrete producers with innovative tools that enhance operational efficiency and competitiveness,” says Sysdyne CEO Jill Zhang. “This investment will accelerate our ability to innovate and expand our platform, enabling us to continue to exceed the needs of our customers.”
“We strive to partner with founders who are driving positive change in their industries; Jill and team are doing just that,” affirms Insight Partners Principal Josh Zelman. “Sysdyne’s cloud-native platform and dedication to making customers successful are well-aligned with what we look for in great investments, and we look forward to supporting them on their growth journey.” — Sysdyne Technologies, Stamford, Conn.