See how playground construction and robotics company Kewazo raised $10 million in its Series A.

  • German startup Kewazo wants to solve the labor shortage in the construction industry.
  • Kewazo’s solution is Liftbot, a robotic lift that the company says reduces labor costs by up to 70%.
  • Insider has an exclusive copy of the presentation that Quevaso used to raise $10 million.

This is an edited, translated version of an article first published on January 26, 2023.

Technology companies are trying to solve the problem of labor shortage by automating processes in various industries.

Artificial intelligence startup Kewazo has focused its efforts on the construction industry. The company’s first product, founded in 2018, Liftbot is a robotic lift that can move materials up and down scaffolding.

The product can be installed in less than 20 minutes and work wirelessly, according to the company’s website.

Liftbot uses multiple sensors that provide real-time information to its data platform. Customers can evaluate data to optimize their operations and get help managing their projects, the website says, adding that the product can help save between 40% and 70% of labor costs.

Construction workers have some of the deadliest jobs in America, but automating the scaffolding process and taking on hazardous transportation processes, Kevazo said, improves the safety and well-being of workers.

Kewazo’s clients include the multinational construction firm Bilfinger and the industrial services firm Altrad. There are about a dozen Liftbots in use on European construction sites.

Artem Kuchukov, founder and CEO of Kewazo, said the company’s next goal is to expand in Europe and North America, as well as expand the robot’s functions.

Kewazo recently raised a $10 million Series A funding round led by US venture capital firm Fifth Wall. Early-stage Boston investor Cybernetix Ventures, Texas-based venture capital firm Unorthodox Ventures, and German software company Nemetschek also acquired stakes in Kewazo.

Existing investors also participated, including Silicon Valley-based True Ventures and German investment firm MIG Capital. This latest round brings Kewazo’s total funding to about $19 million, according to Crunchbase.

Insider has an exclusive copy of the presentation that Quevazo used to raise funds.

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