January 12, 2022

German startup Conxai raises €2.7m to expand no-code AI platform

Munich-based Conxai has raised €2.7m (c.£2.2m) in a pre-seed funding round to grow its no-code AI platform for the architecture, engineering, and construction (AEC) industry.

The startup’s technology aims to employ AI to unlock value from the huge amounts of under-utilised data in the industry.

The funding round was co-led by Earlybird, via its UNI-X fund, and Pi Labs. It also saw participation from A/O PropTech and Argonautic Ventures.The funds will enable Conxai to appoint new talents, scale adoption, and broaden the platform’s capabilities.

The startup is employing 3rd generation ‘Explainable AI (XAI)’ and uses transactional, sensor, and historical project data to produce a series of descriptive and prescriptive analytics.

Conxai hopes that this information will help save time, money, and improve the efficiency of the construction process, freeing users from the need to create a new point solution for each new use case.

CEO Sharique Husain explains: “Conxai will make it easier for the AEC industry stakeholders to integrate and contextualise different types and formats of project lifecycle data, and transform them into actionable and reusable knowledge to make more informed decisions, faster.

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