TruBuild, the AI-powered construction technology startup focused on preventing delays and unexpected costs in project delivery, has successfully closed a $1 million seed round. The round included participation fromWaʼed Ventures, the $500 million venture capital arm of Saudi Aramco, Dar Ventures, the venture arm of Dar, as well as Plug & Play Ventures, OQAL, Taz Investment, and strategic angel investors including Simon Moon, former CEO of Atkins Middle East. TruBuild received an early investment from Antler MENAP as part of the cohort in Riyadh 2023.
“We fully believe in TruBuildʼs mission to eliminate costly project changes and variations, in line with our mission to invest in impactful businesses in the construction sector.ˮ Anas Algahtani said, Wa’ed Ventures.
“TruBuild is combining the best of British construction expertise with cutting edge Saudi AI R&D to supporttherealisation of the Saudi Vision 2030 and beyondˮ Matt Jones said, Saudi British Joint Business Council.
Addressing One of Constructionʼs Most Expensive Challenges
Every year, project changes and cost overruns lead to more than $1.6 trillion in unplanned expenses worldwide, equivalent to 15% of total project costs.
TruBuildʼs AI platform works quietly in the background, analysing project data to spot risks early and provide real-time insights. It integrates directly with tools teams already use, helping project owners, consultants and contractors stay aligned, make decisions faster, and reduce back-and-forth.
“Weʼre not here to disrupt for the sake of it,ˮ said Bisrat Degefa, CEO of TruBuild. “Weʼre here to make everyday decisions easier through objective data, and to help project teams avoid the kinds of issues theyʼve faced for years.ˮ
“With the backing of thoughtful investors and strategic partners, weʼre focused on solving real pain points for teams in the field and weʼre proud to contribute to a more predictable and transparent construction process, creating the next paradigm shift in construction technology.ˮ
TruBuild is working with major organisations in Saudi Arabia, including Osool Real Estate Company.Its approach is an integral part of digital strategy, allowing Osool to procure and develop projects more efficiently.
Next Steps for TruBuild
The seed funding will be used to enhance TruBuildʼs AI platform, grow its engineering and commercial teams, and scale its impact across Saudi Arabia and abroad.
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