Opteam, an innovative AI-driven construction management software, has announced that it has successfully closed its pre-seed round for an undisclosed amount from Plus VC, a leading venture capital firm in MENA.

 

Other strategic investors who participated in the round are Dar Ventures, the VC arm of Dar, SIAC Ventures, the VC arm of SIAC Construction, and Oraseya Capital, the VC fund of Dubai Integrated Economic Zones Authority.

 

Established in 2020, Opteam was founded by Dr Tarek Hegazy, a professor and researcher with 20 years of experience in advanced computational project management for construction, and his son Ahmed Hegazy, a software sales executive. 

 

Opteam is a first-of-its-kind solution, designed to improve how construction companies manage their data and reduce the time it takes to strategise from weeks to minutes. The software combines advanced data analytics, mobile progress tracking, and automation to support construction teams in optimising resources, reducing delays, and managing complex schedules. 

 

Opteam’s goal is to use this technology to reduce the amount of resources needed for infrastructure by 30 per cent. With a focus on real-time insights and data-driven decision-making, Opteam enables construction teams to automate a large amount of manual tasks, monitor the site with accurate updates, give real-time reporting and intelligently recover project delays, the company said.

 

The new capital will be deployed to deepen Opteam’s AI capabilities, expand its team and establish its market presence in the UAE and Saudi Arabia, the company said. 

 

Opteam’s strategy is to develop AI software that is extremely easy to use to take advantage of the construction industry’s need to adopt technology that is simple and non-intrusive, it said.

 

"We are thrilled to partner with Plus VC. Having them on board rounds off our extremely strategic group of investors, spanning key players in the construction industry in the MENA region, and the startup ecosystem,” said Ahmed Hegazy.

 

“Plus VC has a strong reputation in the startup world, known for backing and investing in disruptive companies, and we are proud to be one of them. They will be a key player in our mission to penetrate this massive industry and change how companies approach project management. Our strategy is to accelerate our growth as the sole platform for generative scheduling in construction. We are very excited to ramp up our activities and make something truly special.”

 

Dr Hegazy said: “Opteam is a tool that will finally automate so many of the manual tasks in construction. The Middle East suffers from the highest amount of time and cost overruns than anywhere else globally and is desperate for a solution. We believe that Opteam is perfectly suited to take on this challenge because we are intimately aware of the processes in construction and of the adoption challenges of technology.”

 

Hasan Haider, Managing Partner at Plus VC, said: “Opteam is breaking new ground in construction technology, addressing some of the industry’s most persistent challenges with innovative solutions. It’s a transformative tool for the construction industry, setting new benchmarks for unmatched efficiency and profitability. We are excited to collaborate with Ahmed and his team as they scale and establish themselves as pioneers in the construction tech space.”

 

Faysal Shair, Co-Founder and Director of Dar Ventures, said: “For nearly 70 years, Dar has been part of the architecture, engineering, and construction industry. Opteam has developed a strong business case by disrupting project management on construction sites, to facilitate progress and deliver better outcomes. We truly believe in Opteam's disruptive and pioneering technology and its ability to successfully manage complex schedules and resources during the construction phase of projects.” – TradeArabia News Service