Swapp, an AI-powered construction planning software company, has raised $7 million in seed funding.

The funding round was led by Point72 Ventures and Entrée Capital with the participation of existing investors.

The investment will support Swapp's continued market expansion for its construction planning platform and expand its AI capabilities.

By streamlining the conception, architectural design and engineering processes, Swapp's AI platform is designed to help property developers and construction companies maximise their investments by enabling them to directly control every phase of their project planning process.

Swapp's platform supports the coordination of structural, architectural, engineering, mechanical, electrical and plumbing (MEP) plans, and produces detailed construction drawings and design models according to customers' needs and requirements, said the supplier.

Eitan Tsarfati, co-founder and chief executive of Swapp, said: “For the first time in the history of construction, real estate developers and construction companies can use a single platform to build their entire construction planning project and begin work within weeks, instead of 9-12 months.

“We are already working with some of the biggest names in the construction industry to replace the slow, tedious and inflexible construction planning process with our smart, efficient and flexible planning solution.

“This investment will help us grow our customer base and expand our AI capabilities,” said Tsarfati.

Daniel Gwak, a partner at Point72 Ventures, said: "We believe Swapp has the ability to reinvent architecture by automating the entire construction planning process.

“Its AI-powered platform is designed to help modernise real estate development by simplifying the slow and fragmented planning process, allowing developers to create a full set of architectural plans within weeks.”

Swapp is headquartered in Tel Aviv, Israel and runs a London office.

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