WakeCap Closed $1.6M Seed Round
WakeCap, the first startup aiming to disrupt the construction industry in the MENA region closed their current round of funding. Construction technology investments have been on an all-time high with a total of $1B worth of investments in 2018 worldwide and this startup has secured its seed round of $1.6M from a group of global investors including the leading construction industry player Consolidated Contractors Company (CCC), Silicon Valley based firm Graphene Ventures, Abunayyan Holding and Inspire Ventures from Saudi Arabia, SOSV, startAD Seed anchored at NYU Abu Dhabi and SeedCo Capital.
WakeCap is an IoT-based enterprise solution to improve safety and productivity at the construction site. Safety and productivity at worksites are a global issue, WakeCap is solving this at the ground level by working directly with the end users of this technology, that is the workers. WakeCap is now running multiple pilots in Dubai in partnership with large construction groups.
Hassan Albalawi, Founder and CEO at WakeCap commented, “With this investment, WakeCap is set on the path to develop the product and expand our customer base in the MENA region to achieve our goal of utilizing today’s technology and save lives at the construction field”.
WakeCap Technologies Inc. is dedicated to inventing and designing seamless solutions to connect challenging environments in order to improve the safety measures and the productivity levels at the industrial level. WakeCap Technologies Inc. is considered to be one of the first to design a wearable product that overcomes the challenges of digitizing field logistics in the construction sector. Ultimately, the mission is to disrupt the construction industry without disrupting the work.
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