What is Avvir?
Founded in 2017 and headquartered in New York City, Avvir specializes in providing end-to-end construction monitoring services. The company utilizes advanced laser scanning technology combined with artificial intelligence to meticulously detect and flag errors within construction projects. This innovative approach offers construction firms a powerful tool to ensure quality, reduce costly rework, and maintain project timelines. Avvir operates within the burgeoning PropTech sector, aiming to revolutionize traditional construction practices through digital transformation.
How much funding has Avvir raised?
Avvir has raised a total of $12.7M across 3 funding rounds:
Angel/Seed
$2.5M
Debt
$150K
Other Financing Round
$10M
Angel/Seed (2019): $2.5M with participation from Khosla Ventures, Metaprop, and Localglobe
Debt (2020): $150K led by PPP
Other Financing Round (2021): $10M supported by Trust Ventures
Key Investors in Avvir
Trust Ventures
Trust Ventures is an investment firm that appears to focus on companies driving significant societal or environmental impact, aligning with Avvir's mission to improve construction efficiency and reduce waste.
Khosla Ventures
Khosla Ventures is a prominent venture capital firm known for investing in disruptive technologies across various sectors, including AI and enterprise solutions, making them a strategic partner for Avvir's technological advancements.
Metaprop
Metaprop is a venture capital firm specializing in real estate technology (PropTech), indicating a strong strategic alignment with Avvir's core business and market focus.
What's next for Avvir?
With the infusion of major enterprise-level funding and a recent strategic investment, Avvir is poised for accelerated growth and market expansion. The company's focus on leveraging AI for construction monitoring positions it to capitalize on the increasing demand for technological solutions in the building industry. Future strategic initiatives are likely to involve further development of its AI algorithms, expanding its service offerings, and strengthening its market presence both domestically and internationally. This capital will fuel innovation and solidify Avvir's role as a leader in construction technology.
See full Avvir company page
