BeamUP secures $ 15mn seed investment
AI & ML
BeamUP secures $ 15mn seed investment
BeamUP , the AI platform that designs and manages enterprise building systems , recently launched with a US $ 15mn round of seed investment led by Israel-based StageOne Ventures and US-based Ibex Investors , as well as prominent angels including Chano Fernandez , CEO of Workday .
Working with several Fortune 100 companies , BeamUP generates digital models of facilities to reduce system and infrastructure design time from months to days and improve management efficiency by 70 %. The technology also cuts ongoing operational costs associated with manual processes , errors , and rework , reducing the risk of compliance and regulatory breaches .
CEO Stephane Levy said buildings and the systems within them are as complex as cities , but the tools to design and manage them have not kept up .
“ By introducing intelligence and historic and macro level data into this industry , BeamUP automates manual processes to prevent dangerous compliance breaches and skyrocketing costs for enterprises who manage hundreds , if not thousands , of facilities .”
“ As many companies today use AI algorithms across their businesses , they potentially face increasing internal and external demands to design these algorithms to be fair , secured and trustworthy ; yet , there has been little progress across the industry in embedding AI ethics into their practices ,” said Jesus Mantas , Global Managing Partner , IBM Consulting .
“ Our IBV study findings demonstrate that building trustworthy AI is a business imperative and a societal expectation , not just a compliance issue . As such , companies can implement a governance model and embed ethical principles across the full AI life cycle .”
Three-quarters of respondents believe ethics is a source of competitive differentiation , with more than 67 % of respondents viewing AI and AI ethics as important – indicating that their organisations outperform their peers in sustainability , social responsibility , and diversity and inclusion .
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