Startup Track3D raises USD 4.3 mn for business growth

NEW DELHI: Startup Track3D, a tech platform for the construction industry, has raised USD 4.3 million (about Rs 36 crore) from investors for its business growth.

In a statement, the company said it has "secured USD 4.3 million in seed funding. The round was led by Endiya Partners, with participation from Shadow Ventures, Monta Vista Capital, and others".

This investment will drive the adoption of the company's unified reality capture data platform, designed for intelligent, comprehensive, AI-powered construction progress monitoring, it added.

Track3D, co-founded by Chaitanya Naredla, Kiran Gutta, and Vineeth Paruchuri, is the built environment's 'AI-first reality intelligence' platform.

"It serves as a central hub for all visual data, transforming reality capture data from a system of record to a system of intelligence," the statement said.

Utilising visual data from drones, 360 cameras, laser scanners, and mobile devices, Track3D said it provides actionable insights to enhance project oversight and decision-making within a single intuitive system.

"The financial support from these premiere investors is a testament to how bullish the industry is on the Track3D platform.

"Reality capture is not particularly new, but Track3D’s Reality Intelligence Platform is a first-of-its-kind unified platform that turns raw data into exponentially more valuable information with advanced AI tools," Chaitanya said.

Track3D said its platform has boosted productivity by 15 per cent, improved schedule adherence by 12 per cent, and cut rework costs by 20 per cent, winning enterprise clients like Hensel Phelps and PCI.