WakeCap, a Dubai-based construction tech startup has added another $1.6 million to its kitty — thanks to a group of global and regional investors participating in the company’s recently wrapped up seed round. Contributors include U.S.-based Graphene Ventures and SOSV, Saudi-based Inspire Ventures, construction companies Consolidated Contractor Company and Abunayyan Holding, among others.
Launched earlier in 2018, the seed round had previously raked in $300,000 from multiple investors. WakeCap was founded by a consortium of industry heavyweights including the likes of Ishita Sood Kochhar, Hassan Albalawi, and Rene Wassenburg. The company is a provider of Internet of Things (IoT)-powered enterprise solutions that enhance productivity and improves safety measures deployed at construction sites.
The company’s flagship IoT devices are integrated with construction helmets, which adds more to its offerings as it allows project managers to closely monitor their workers’ location and attendants round the work-hours. Also, the same set up comes incredibly handy for acting swift in the wake any unwarranted incidents at construction sites such as injuries or breach of safety protocols.
WakeCap is undertaking many pilot projects in Dubai in collaboration with some of Dubai’s leading construction groups. These pilots include a partnership with Emaar’s flagship $136 million worth Opera Grand Tower in Downtown Dubai.
